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.
- Just like getting an annual physical, it is a good idea to also check your benefits annually. You can do this by navigating to Workday and checking to make sure the benefits you previously selected continue to meet the needs of you and/or your family.
- While basic life insurance is established when your initial retirement plan is selected when you first begin your career at UVA, you can add or modify additional life insurance options throughout the year, not just during Open Enrollment.
- For ORP and MCRP participants enrolled with The Standard, you have the opportunity only during Open Enrollment to apply for additional Life and AD&D insurance up the Guarantee Issue Amount without providing medical evidence of insurability:
- If you are insured for an amount less than the Guarantee Issue Amount, medical evidence of insurability will be waived if you apply for an increase in your life insurance by no more than one Annual Earnings increment, up to the Guarantee Issue Amount.
- All amounts over the Guarantee Issue Amount are subject to medical evidence of insurability. (For example, if you are currently insured for 1x Annual Earnings, you may only elect up to 2x Annual Earnings without medical evidence of insurability, up to the Guarantee Issue Amount.)
- For more information: