Life Insurance

• For information about program features, forms, and other resources, see VRS Life Insurance Benefits
• If you have questions, contact VRS at 800.441.2258

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

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

This link includes forms for enrollment, changes, EOI, and beneficiary requests. 

If you have questions, contact The Standard at 1.800.843.7979.

The following resources have detailed information:

• The Standard Life Insurance Policy Document
• Coverage Highlights
• Beneficiary Assistance
• Travel Assistance
• Identity Theft Assistance
• Insurance Estimator for UVA Employees

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

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)

• Insurance Estimator for UVA Employees
• Coverage Highlights
• Beneficiary Assistance
• Travel Assistance
• The Standard Life Insurance Policy Document
• Life Services Toolkit - provides additional services for members with ORP Life coverage, including identity protection, wills, and estate planning. Type in "assurance" for user name.
  • Life Services Toolkit flyer
• Evidence of insurability, medical questionnaire
   

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.

WDA offers step-by-step assistance directly in Workday. You can also review the Open Enrollment Workday Job Aid on the Workday Central webpage (behind NetBadge), "Happening Now" section.

A summary of how to review and elect your benefits in Workday is below:

• Navigate to Workday.
• In your Workday Inbox, click on the message titled "Open Enrollment Change: [Your Name] on 01/01/2024"; click on "Let's Get Started."
• Open Enrollment in Workday is organized into "tiles" for each benefit; you will see two sections, one for Health Care and Accounts, and one for Insurance. Each section has multiple tiles. You will start with Health Care and Accounts.
• You will have three edit options at the bottom of every tile:
  • Manage to make changes to a benefit you already have
  • Enroll to add a new benefit
  • View to see a benefit that is not editable in Workday (more on this further down)
• Select a tile and choose the edit option for that tile.
• Once you've selected or waived a benefit in the Health Care and Accounts section, click on Confirm and Continue -- this will take you to a separate window to select or waive eligible dependents for that benefit. Dependents previously enrolled who are eligible will show up automatically, you just need to select or waive each one of them.
• Click Save to update the benefit tile. This does NOT submit your elections, it just saves the individual benefit tile details you've selected. 
• Repeat the above process for all six Health Care and Accounts tiles.
• Workday now offers you a status update on which benefits you’ve touched: "Reviewed," "Updated" or blank if you haven't touched a benefits tile yet.

• Once you've completed the Health Care and Accounts section, move on to the Insurance section. You will see multiple tiles under Insurance.
• Select a tile and choose the edit option for that tile.
• Please note that some life insurance benefits are VIEWABLE in Workday but not changeable. Each of these tiles will direct you to where you need to go to make changes. Some of these changes may be outside of Workday.​
• Once all your benefits have been reviewed and edited as needed, attach any required documents such as birth certificate for new dependents, then click on Review and Sign -- here you can read the summary of what's you elected.
  • New Basic Health participants: Sign and submit the HSA Terms and Conditions authorization form on the Review and Sign page. This document authorizes Fidelity to open your HSA and is required to receive the 2024 employer contribution.
  • New Dependents: If you added new dependents during Open Enrollment (spouse or children), upload required documentation into Workday. You will see a Spousal Affidavit on the Review and Sign page.
• Click on the I Accept box, then click on Submit to complete your Open Enrollment process.
• Print this page or save it as a PDF.

You can make changes to your elections as long as the Open Enrollment period is open, even after you have submitted your elections.

• From the Benefits app in Workday, click on Change Open Enrollment
• You will be making changes to what has been previously submitted. Any changes made will need to be resubmitted. If you do not resubmit, the changes will be deleted and the previous submission will remain in effect.
• Move through the same tiles to elect or waive coverage.
• Once changes are complete, electronically sign at the bottom of the last page and press the Submit button.
• Print the new confirmation of benefits elections or save as a PDF.

Look for additional tasks in Workday related to your Open Enrollment elections:

• Dependents and Beneficiaries: If you changed your dependents or beneficiaries in Workday, look for possible additional action items in your Workday Inbox.