Protect Your Assets and Investments

Life Insurance

This webpage is now closed. Please visit the current Open Enrollment website for current Open Enrollment information. 

If you have questions about your benefits or would like to make changes to your benefits outside of the Open Enrollment period and due to a qualified life event, please contact the HR Solution Center at AskHR@virginia.edu.

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), or 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.

Key Takeaways

  • Review benefits - Just like getting an annual physical, Open Enrollment is the perfect time of year to check your benefits and see if they still cover your health and financial needs. 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.
  • Life insurance can be modified all year - While basic life insurance is established when your initial retirement plan is selected as you begin your career at UVA, you can add or modify additional life insurance options throughout the year, not just during Open Enrollment.
  • VRS participants - VRS members may purchase additional life insurance directly with the vendor outside of Workday. The amount of coverage corresponds with the selected employee option. Learn more about levels of coverage and life insurance maximums. No evidence of insurability is required if the form is received within 31 days of your date of hire (spousal coverage is up to .5X with no EOI).
  • ORP and MCRP participants - For ORP and MCRP participants already enrolled in the Supplemental Employee and/or Spouse Life 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 (up to 3x salary or <$500k for employee, and up to $50, for spouse) without having to complete the medical evidence of insurability (EOI): 
    • 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:

Learn More

  • Play Video

    Supplemental Life Insurance

    Learn about supplemental life insurance for Medical Center Retirement Plan (MCRP) and Optional Retirement Plan (ORP) participants, and the option to increase supplemental life insurance without medical evidence of insurability only during Open Enrollment.

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.

  • 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

  • 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
    More about Basic Group Life Insurance

  • Optional Group Life Insurance

    VRS members may also purchase additional life insurance.  The amount of coverage corresponds with the selected employee option. Visit the VRS Group Life Insurance webpage 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

    See forms for enrollment, changes, EOI, and beneficiary requests at the Securian Financial webpage. 

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.

FAQs

  • What happens to my life insurance if I leave UVA?

    That depends.

    If simply separating from UVA, you would lose the life insurance benefit.

    If you were to go onto disability, there are options to continue based on your retirement plan and disability vendor.

    If you retire, life insurance is maintained, but the details vary depending on your retirement plan (VRS, ORP, or MCRP):

    • If you are in the Virginia Retirement System (VRS) and have Basic Life insurance with Minnesota Life, your insurance continues after you retire at no cost to you if you meet both of the following requirements:
      • You are at least 55 years old
      • You have at least five years of continuous service as an employee, or are age 50 with 10 years of service (including five years of continuous service as an employee)
        • The insurance amount reduces by 25% annually starting January 1 following 12 months of retirement, and on every January 1, thereafter until coverage reaches 25% of its value at your retirement.
        • If you are eligible to retire but defer receipt of your annuity, reduction begins on January 1 following the first 12 months from the date you separate from service. At its fully reduced level, you will have approximately half of your preretirement compensation in life insurance.
        • If you retire due to disability, your life insurance also continues and does not begin to reduce until you reach age 65. Beginning January 1 of the first full year following the date you reach 65, your insurance begins to reduce at the rate of 25% annually until your coverage reaches 25% of its value at retirement.
        • If you took either a service or disability retirement before July 1, 2001, your basic group life insurance reduces 2% each month until it reaches 25% of its value at retirement.
        • Although accelerated death benefit and the right to voluntary irrevocable assignment continue into retirement, accidental death and dismemberment (AD&D) coverage ceases.
    • If you are a Medical Center employee or an Optional Retirement Plan (ORP) enrollee and enrolled in life insurance with The Standard, your retiree life insurance provides a death benefit of $10,000 payable to your designated beneficiaries upon your death. The death benefit amount stays level for the rest of your life. 
      • The Standard plan also allows you, at retirement, to convert part or all of the basic and supplemental insurance you have as an active employee.
Thank you for consistently working to improve information and communication Kellie Gildersleeve, Billing and Insurance Manager, Student Health and Wellness

Having trouble finding what you’re looking for?

We strive to make the information on every webpage clear and easy to find. For benefits questions or concerns, or questions about Open Enrollment, please contact the HR Solution Center by phone at 434.243.3344, or by email at AskHR@virginia.edu.

Please let the HR Communications team know if you're having trouble finding what you're looking for on these webpages, so we can improve your experience on this page in the future. 

For previous Open Enrollment email communications, see the right sidebar box on this page labeled "Open Enrollment Emails."

 

*Note for Postdoctoral Fellows: The Open Enrollment process for all Postdoctoral Fellows (non-UVA employees) is managed through UVA Human Resources. For additional information specific to Postdoctoral Fellows, contact Corinne Clasbey or Rachel Short.