Life Insurance
Life Insurance
Life insurance financially protects you and / or your loved ones in the event of your passing. That may mean paying daily expenses, managing debt, or paying for education.
If you are enrolled in a UVA retirement plan (VRS, ORP, or MCRP), if you are Housestaff, or a Postdoctoral Fellow, you already have basic life insurance coverage at no cost to you. Find out more about your specific plan details below, and the option to purchase additional coverage.
Life Insurance for VRS Members
VRS members are enrolled in the VRS Basic Group Life Insurance Program - administered by Securian - at no additional cost. If you would like additional life insurance (for yourself, your spouse, and dependents), you can purchase Optional Group Life Insurance.
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Your insurance provider
- For information about program features, forms, and other resources, see VRS Life Insurance Benefits
- If you have questions, contact VRS at 800.441.2258
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Basic Group Life Insurance
Features include the following:
- Natural death benefit is twice annual salary, rounded to the next highest thousand
- Accidental loss of one or more limbs, or of eyesight, benefit twice annual salary
- Accidental death coverage is four times annual salary
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Optional Group Life Insurance
VRS members may also purchase additional life insurance. The amount of coverage corresponds with the selected employee option. Click here to learn more about levels of coverage and life insurance maximums.
Features include the following:
- Eligibility for you, your spouse, and dependents
- No evidence of Insurability is required if the form is received within 31 days (spousal coverage is up to .5X with no EOI)
- Four tiered options for coverage
This video summarizes Optional Group Life Insurance.
This link includes forms for enrollment, change, EOI, and beneficiary requests.
Life Insurance for ORP and MCRP Members, Housestaff, and Postdoctoral Fellows
ORP and MCRP members, as well as Housestaff, are enrolled in Group Term Life Insurance with Accidental Death & Dismemberment through The Standard. ORP and MCRP members, as well as Housestaff, can secure additional life insurance (for themselves, their spouses, and dependents) by purchasing Supplemental Life with Accidental Death & Dismemberment.
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Your insurance provider
If you have questions, contact The Standard at 1.800.843.7979.
The following resources have detailed information:
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Group Term Life Insurance with Accidental Death and Dismemberment (AD&D)
Features include the following:
- Equivalent to your annual salary in group life insurance
- Accidental Death and Dismemberment (AD&D)
- Identity theft protection
- Will preparation
- Beneficiary assistance
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Optional Group Life Insurance
Salaried, benefits eligible employees may purchase supplemental life. See additional information about this benefit below.
Features include the following:
- Your coverage
Buy additional coverage in multiples of salary, increments of 1x, 2x, 3x, or 4x, up to the $500,000 maximum, with evidence of insurability required over 3x salary - Spouse coverage
Increments of $25,000 up to a maximum of $100,000 (cannot exceed your coverage), with evidence of insurability required for requests over $50,000. Please note you cannot cover a spouse who is also a benefitted employee of UVA. - Dependents
$10,000 up to age 26 at a rate of .120 per $1,000 of coverage, or $1.20/month (all eligible children are covered, and premium does not increase per child)
Employee/Spouse Rate Variations (based on employee’s age)
Age Rate per $1,000 in coverage Reduction based on age 29 and under
$0.063
n/a
30–34
$0.068
n/a
35–39
$0.075
n/a
40–44
$0.101
n/a
45–49
$0.147
n/a
50–54
$0.210
n/a
55–59
$0.318
n/a
60–64
$0.468
n/a
65–69
$0.797
65%
70–74
$0.797
50%
75 and up
$0.797
35%
- Your coverage
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Additional Resources