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Life Insurance/AD&D

Though it’s hard to think about, it is necessary to plan for the far future.  To help you get peace of mind now and security for your family later, Macalester College offers a plethora of life and accidental death & dismemberment insurance coverage options.

Macalester employees with a 0.50 FTE or higher are eligible for coverage.  

*No Rate Changes for 2025

Employee Voluntary Life: An open enrollment will be offered to employees

  • Employee coverage
    Can elect up to a maximum of $250,000 with no health questions, even if previously declined.
    Any amount over $250,000 requires health questions. Maximum election is $600,000.
    Dependent Voluntary Life: An open enrollment will be offered to spouses, domestic partners, and child(ren).
  • Spouse/Domestic Partner
    Can elect up to a maximum of $25,000 with no health questions, even if previously declined.
  • Child(ren) coverage
    Can elect $10,000 with no health questions.
  • Basic Life and AD&D Insurance

    Macalester provides Basic Life and Accidental Death and Dismemberment (AD&D) insurance through New York Life. This coverage is paid in full for you by Macalester College.

    Basic Life Plan Highlights

    • Employees are covered by a basic term life insurance benefit equal to one times annual earnings up to $500,000 maximum. This amount decreases at age 70 and again at age 75.
    • Accelerated Benefit: This plan will pay benefits in the event you become terminally ill as defined in the master contract.
    • Conversion and Portability: This plan is fully convertible or portable upon termination of your employment with us. Premiums become your responsibility at that time.

    Basic AD&D Plan Highlights

    • Employees are covered by an AD&D benefit equal to one times annual earnings up to $500,000 maximum. This amount decreases at age 70 and again at age 75.
    • Repatriation Benefit: Up to $5,000 may be available in the event your eligible surviving dependents require repatriation services.
    • Education Benefit: For each qualified surviving child, an education benefit may be available in the amount of 6% of the employee’s total AD&D amount up to $6,000 maximum per academic year. A maximum benefit period of six years and a maximum benefit of $24,000 apply per child.
    • Portability: This benefit is portable in the event you leave our employ. Premiums become your responsibility at that time.
  • Optional Life and AD&D Insurance

    In addition to the Basic Life and AD&D insurance provided by Macalester, faculty and staff members have the opportunity to purchase Optional Life and AD&D insurance through New York Life.  This plan is paid by you and is intended to supplement the provided Basic Life and AD&D Insurance.

    Optional Life and AD&D Insurance Plan Highlights

    • Employees may elect coverage in increments of $10,000 not to exceed $600,000.
    • New hire employees have a guaranteed issue amount up to $250,000. If employees purchase at least $10,000 during their new hire benefits enrollment, they are eligible for the guaranteed issue amount every year without having to provide an EOI, pursuant to the terms of our current contract.
    • Coverage amounts decrease at age 70 and again at age 75.
    • Survivor Financial Counseling Services: Financial counseling is available to surviving beneficiaries and terminally ill employees at no cost.
    • Portability: This coverage is portable should you leave Macalester. Certain medical conditions may cancel the portability privilege.
    • Accelerated Benefit: If you become terminally ill, you may request up to 75% of the life insurance amount not to exceed $375,000. Some limits apply.
  • Dependent Life Insurance

    Macalester offers faculty and staff members the opportunity to purchase Dependent Life Insurance through New York Life.  This plan is paid by you and intended to provide you with financial support should a covered dependent pass.

    Dependent Life Insurance Plan Highlights

    • For a flat rate of $4.50 per month employees can cover a spouse, domestic partner, and any number of dependent children.
    • Spouses and domestic partners are covered by $25,000 of term life insurance.
    • Children from birth to age 26 are covered by $10,000 of term life insurance.
      • Children age 19+, who are primarily supported by the employee and incapable of self-sustaining employment by reason of mental health or physical incapacity are covered by $10,000 term life insurance.
  • Frequently Asked Questions

    How do I change my life insurance beneficiaries?
    You can update your life insurance beneficiaries online through the Benefits Portal.

    Is my spouse automatically my life insurance beneficiary?
    Yes. By Minnesota statute, a legal spouse would always be the primary beneficiary unless they waived this right in writing. However to ensure that there would exist no confusion on your intended beneficiaries, it is highly recommended that you have a current beneficiary form on file with Employment Services.

    When can I make changes to my life insurance beneficiaries?
    Changes to Beneficiaries can be made anytime and are not limited to the Open Enrollment Period.
  • Resources

    Welcome Guide (PDF)

    Summary of Benefits

    Basic Life Insurance (PDF)

    Basic AD&D Insurance (PDF)

    Employee Voluntary Life Insurance (PDF)

    Employee Voluntary AD&D Insurance (PDF)

    Dependent Life Insurance (PDF)
  • Plan Documents

    Rate Calculations

    Rate Calculator

    Certificates of Coverage

    Basic AD&D (PDF)

    Basic Life and Dependent Life Insurance (PDF)

    Employee Voluntary AD&D (PDF)

    Employee Voluntary Life Insurance (PDF)

    Policy

    Basic AD&D Policy (PDF)

    Employee Voluntary AD&D Policy (PDF)