Employer-Paid Term Life Insurance
Employees who are members of the Virginia Retirement System (VRS) are covered automatically by the VRS Basic Group Life Insurance Program provided through Securian Financial. Life insurance is valued at two times the employee’s annual salary rounded up to the next $1,000. The School Board pays the full cost of the premium.
Optional Supplemental Life Insurance (premiums are 100% employee-paid)
Employees who are members of the Virginia Retirement System (VRS) may also purchase additional coverage for themselves, for their spouse and/or for their children. The cost of optional insurance is paid 100% by the employee. To obtain an enrollment form, view rates and calculate your premium, and obtain plan information, please click here.
If you apply for Optional Life within 31 days from the date of employment, you may select any option, up to a maximum death benefit of $400,000, without providing Evidence of Insurability (EOI).
The following options are available to newly eligible employees without providing Evidence of Insurability (EOI):
— Optional Life: Elect any available option up to $400,000
— Spouse Term Life: If you elect Option 1, your spouse will be eligible to receive up to one-half your salary (all other options will require EOI)
— Child Term Life: All coverage guaranteed (amount based upon your Optional Life election)
EOI will be required for any amounts exceeding the guaranteed limits or if any coverage is applied for outside of your initial 31-day eligibility period. EOI is also required if you want to increase coverage after transferring from one State agency to another State agency.
Employees who are members of the Arlington County Employees Supplemental Retirement System, but not VRS, are covered by the Arlington Public Schools term life insurance program. The value of this insurance is the annual salary rounded up to the next $1,000. Arlington Public Schools pays the full cost of the life insurance premium.
Securian Financial Customer Service 1-800-843-8358, or https://web1.lifebenefits.com/lb/home.htm