IUC - Shawnee State University
Plan Summary - Group Term Life and AD&D Insurance
Over
Group Life Insurance Program
Your employer provides benefit eligible employees Term Life and Accidental Death &
Dismemberment (AD&D) Insurance through Securian Financial - administered by Ochs, Inc.
HOW MUCH LIFE INSURANCE
DO YOU NEED?
Check out the life insurance calculator at
LifeBenefits.com/Insuranceneeds.
Insurance helps cover
 Funeral/burial costs
 Medical bills
 Taxes & living expenses
(i.e. mortgage, childcare)
LIFE and AD&D INSURANCE
Protect yourself and your family from the
unexpected loss of life and income during
working years. Life Insurance provides a
financial benefit to beneficiaries upon death;
AD&D Insurance provides additional financial
protection if the insured’s death or
dismemberment is due to a covered accident,
whether it occurs at work or elsewhere.
Automatically Enrolled Coverage - employer paid
Employee
Basic Term Life and AD&D
Amount varies*
according to job classification, see
certificate for details
 Includes a matching AD&D benefit
Elect Voluntary Coverage - employee paid
Employee
Term Life and AD&D
Minimum $20,000 up to
$500,000 maximum
 Elect in $1,000 increments
 Includes a matching AD&D benefit
Spouse
Term Life and AD&D
up to $250,000 maximum
 Elect in $10,000 increments
 Includes a matching AD&D benefit
Child
Term Life and AD&D
$5,000, $10,000, $15,000
or $20,000 each child
 One premium insures all eligible
children from live birth to age 26
 Includes a matching AD&D benefit
 First eligible newborn child benefit
If your spouse or child is eligible for employee coverage, they cannot be covered as a dependent. Only one employee may cover a dependent child.
*Coverage reduces to 65% beginning at age 65 (see certificate for details).
Elect
Enrolled
Elect
Elect
This is a summary of plan provisions related to the insurance policy underwritten by Minnesota Life Insurance Company. In the event of a conflict between this summary and the policy
and/or certificate, the policy and/or certificate shall dictate the insurance provisions, exclusions, all limitations and terms of coverage.
Securian Financial is the marketing name for Securian Financial Group, Inc. and its affiliates. Minnesota Life is an affiliate of Securian Financial Group, Inc.
Products are offered under policy form series MHC-96-13180.
Ochs, Inc.
A Securian Company
400 Robert Street N, Ste. 1880, St. Paul, MN 55101
F-ochs Rev 10-2019
740393
Email: ochs@ochsinc.com
Phone: 651-665-3789 • 1-800-392-7295
Web: ochsinc.com
Contact Ochs
ochs@ochsinc.com
651-665-3789 or 1-800-392-7295
ADDITIONAL FEATURES
 Waiver of Premium - If you become totally and
permanently disabled, according to the terms of
your certificate, life insurance premiums may be
waived.
 Accelerated Benefit - If an insured person
is diagnosed with a terminal illness, as defined in
your certificate, he/she may be eligible to request
early payment of the life insurance in force.
 Continuation - If you are no longer eligible for
coverage as an active employee, you may be
eligible to continue your coverage, if elected during
the limited enrolment period. Premiums may be
higher than those paid by active employees.
Contact your employer or Ochs for information.
NEWLY HIRED EMPLOYEES
A special guaranteed issue opportunity is available for
newly hired employees during their initial 31 day
enrollment period. No evidence of insurability is
required for the following guaranteed amounts:
 Employee - under 65 elect up to $150,000;
age 65 - 69 elect up to $50,000; age 70+ elect
up to $10,000
 Spouse - under age 65 elect up to $30,000; 65+
elect $10,000
 Child - all coverage
Evidence of insurability is required for elections
above the guaranteed amounts.
ANNUAL ENROLLMENT
During your employer’s designated annual enrollment
period, no evidence of insurability is required for the
following guaranteed amounts:
 Currently Insured Employees - may increase
up to $50,000 (provided the resulting amount
does not exceed the total coverage of $150,000
for under 65; $50,000 for age 65-69; or $10,000
for age 70+)
 Child - all coverage
Evidence of insurability is required for elections
above the guaranteed amounts and all other elections.
OTHER ENROLLMENT
If your policy or employer allows enrollment outside of
their designated enrollment periods, elections will
require evidence of insurability. If you experience
a family status change, check with your employer
within 31 days to confirm guaranteed issue eligibility.
Age Rate per $1,000
<25 $0.070
25-29 $0.070
30-34 $0.075
35-39 $0.096
40-44 $0.132
45-49 $0.182
50-54 $0.262
55-59 $0.430
60-64 $0.671
65-69 $1.056
70-74 $1.678
75-79 $3.045
80+ $6.131
Rates increase with age and all rates are subject to change.
MONTHLY COST
Employee or Spouse
Voluntary Term Life and AD&D
See rate grid for easy cost calculation.
ENROLL ONLINE
NOW
by the enrollment deadline.
Premiums will be automatically deducted
from your paycheck.
BENEFICIARY DESIGNATIONS
Naming a beneficiary is an important right
of life insurance ownership; this determines
who receives the death benefit. It is
recommended that you review and
update your elections
periodically.
?
DOFU 3-2018
One premium insures all eligible children.
MONTHLY COST
Child Term Life and AD&D
$5,000 $20,000
$0.89 $3.56
$10,000
$1.78
$15,000
$2.67
Age < 25 25-29 30-34
35-39 40-44
45-49 50-54 55-59 60-64 65-69 70-74*
Rate per $1,000
$0.070 $0.070 $0.075 $0.096 $0.132 $0.182 $0.262 $0.430 $0.671 $1.056 $1.678
Coverage
$10,000
0.70 0.70 0.75 0.96 1.32 1.82 2.62 4.30 6.71 10.56 16.78
$20,000
1.40 1.40 1.50 1.92 2.64 3.64 5.24 8.60 13.42 21.12 33.56
$30,000
2.10 2.10 2.25 2.88 3.96 5.46 7.86 12.90 20.13 31.68 50.34
$40,000
2.80 2.80 3.00 3.84 5.28 7.28 10.48 17.20 26.84 42.24 67.12
$50,000
3.50 3.50 3.75 4.80 6.60 9.10 13.10 21.50 33.55 52.80 83.90
$60,000
4.20 4.20 4.50 5.76 7.92 10.92 15.72 25.80 40.26 63.36 100.68
$70,000
4.90 4.90 5.25 6.72 9.24 12.74 18.34 30.10 46.97 73.92
117.46
$80,000
5.60 5.60 6.00 7.68 10.56 14.56 20.96 34.40 53.68 84.48 134.24
$90,000
6.30 6.30 6.75 8.64 11.88 16.38 23.58 38.70 60.39 95.04 151.02
$100,000
7.00 7.00 7.50 9.60 13.20 18.20 26.20 43.00 67.10 105.60 167.80
$110,000
7.70 7.70 8.25 10.56 14.52 20.02 28.82 47.30 73.81 116.16 184.58
$120,000
8.40 8.40 9.00 11.52 15.84 21.84 31.44 51.60 80.52 126.72 201.36
$130,000
9.10 9.10 9.75 12.48 17.16 23.66 34.06 55.90 87.23 137.28 218.14
$140,000
9.80 9.80 10.50 13.44 18.48 25.48 36.68 60.20 93.94
147.84 234.92
$150,000
10.50 10.50 11.25 14.40 19.80 27.30 39.30 64.50 100.65 158.40 251.70
$160,000
11.20 11.20 12.00 15.36 21.12 29.12 41.92 68.80 107.36 168.96 268.48
$170,000
11.90 11.90 12.75 16.32 22.44 30.94 44.54 73.10 114.07 179.52 285.26
$180,000
12.60 12.60 13.50 17.28 23.76 32.76 47.16 77.40 120.78 190.08 302.04
$190,000
13.30 13.30 14.25 18.24 25.08 34.58 49.78 81.70 127.49 200.64 318.82
$200,000
14.00 14.00 15.00 19.20 26.40 36.40 52.40 86.00 134.20 211.20 335.60
$210,000
14.70 14.70 15.75 20.16 27.72 38.22 55.02 90.30
140.91 221.76 352.38
$220,000
15.40 15.40 16.50 21.12 29.04 40.04 57.64 94.60 147.62 232.32 369.16
$230,000
16.10 16.10 17.25 22.08 30.36 41.86 60.26 98.90 154.33 242.88 385.94
$240,000
16.80 16.80 18.00 23.04 31.68 43.68 62.88 103.20 161.04 253.44 402.72
$250,000
17.50 17.50 18.75 24.00 33.00 45.50 65.50 107.50 167.75 264.00 419.50
$260,000
18.20 18.20 19.50 24.96 34.32 47.32 68.12 111.80 174.46 274.56 436.28
$270,000
18.90 18.90 20.25 25.92 35.64 49.14 70.74 116.10 181.17 285.12 453.06
$280,000
19.60 19.60 21.00 26.88 36.96 50.96 73.36
120.40 187.88 295.68 469.84
$290,000
20.30 20.30 21.75 27.84 38.28 52.78 75.98 124.70 194.59 306.24 486.62
$300,000
21.00 21.00 22.50 28.80 39.60 54.60 78.60 129.00 201.30 316.80 503.40
$350,000
24.50 24.50 26.25 33.60 46.20 63.70 91.70 150.50 234.85 369.60 587.30
$400,000
28.00 28.00 30.00 38.40 52.80 72.80 104.80 172.00 268.40 422.40 671.20
$450,000
31.50 31.50 33.75 43.20 59.40 81.90 117.90 193.50 301.95 475.20 755.10
$500,000
35.00 35.00 37.50 48.00 66.00 91.00 131.00 215.00 335.50 528.00 839.00
Rate Grid Private.doc
Rev 10-2019
Employee and Spouse Voluntary Term Life and AD&D Monthly Rates (based on age)
*Additional rates available upon request
Rates change according to age brackets.