Life Insurance
Marshall University offers three life insurance options through Securian, third-party administrator under PEIA; Basic Life, Optional Life, and Dependent Life. Coverage begins the first day of the month following enrollment and employment.
Basic Life Insurance
- Available to Benefits-eligible employees
- Term insurance has no cash or loan value
- Policy doubles in cases of accidental death
- Enrollment period is the month of hire.
- An employee may enroll for the basic life insurance policy only, even if not enrolled for medical insurance
- A statement of health form to PEIA is required for approval of insurance coverage after the initial enrollment period
How to enroll in Basic Life Insurance:
- For new employees or existing employees new to PEIA, you can enroll online through the Manage My Benefits link
- For employees who have had PEIA in the past, you will use the paper form
- How to change your beneficiary. Online through Manage My Benefits or paper form
Optional Life Insurance
- Available to Benefits-eligible employees
- There are 18 options available by the employee’s age.
- An employee may choose optional life insurance during the month of employment.
- PEIA offers up to $500,000 of optional life insurance which is also decreasing term coverage.
- However, if an employee chooses more than $100,000 of coverage, he or she will be required to complete an Evidence of Insurability Application form.
- Active employees may increase their optional life insurance at any time by submitting an Evidence of Insurability form and being approved by the life insurance carrier.
- This is term insurance that has no cash or loan value.
- Premiums, which are based on the amount of coverage selected, the age of the employee, and tobacco use status, are paid by the employee. Tobacco-free rates are available to those who submit an affidavit stating that the policyholder does not use tobacco.
- Active Employees, tobacco free, tobacco user
- Retired Employees, tobacco free, tobacco user
How to enroll in Optional Life Insurance:
- For new employees or existing employees new to PEIA, you can enroll online through the Manage My Benefits link
- For employees who have had PEIA in the past, you will use the paper form
- How to change your beneficiary. Online through Manage My Benefits or paper form
Dependent Life Insurance
- Available for eligible spouse and dependent children.
- There are five plans available that range from $5,000 to $40,000 for a spouse and $2,000 to $15,000 for each eligible child.
- The regular enrollment period is the month of hire.
- Premiums are paid by the employee.
How to enroll in Dependent Life Insurance:
- For new employees or existing employees new to PEIA, you can enroll online through the Manage My Benefits link.
- For employees who have had PEIA in the past, you will use the paper form.
