Lincoln Voluntary Term Life
The Mississippi Department of Employment Security offers voluntary group term life coverage through Lincoln Financial Group.
The plan offers life insurance in $10,000 increments, not to exceed 5 times your salary. The minimum benefit that can be elected is $10,000, the maximum benefits that can be elected is 5 times your salary or $500,000. Employees age 70 and older, maximum benefit is $50,000.
You have the choice to cover your spouse and/or any dependent children. Employee coverage must be elected for spouse and/or dependent children to be eligible for coverage. Coverage for spouse and/or children may not exceed 50% of employee elected amount.
Spouse coverage is available in $5,000 increments (maximum is 50% of employee amount). Dependent child coverage is available as follows: $250 for children age 14 days old to six months, $10,000 for child age six months old to age 19 (to age 25 if full-time student).
This coverage is “guaranteed issue” the first time it is offered to you. Future increases will be subject to underwriting.
In the event of a special enrollment event, (marriage, divorce, birth of a child, loss of coverage, etc.) employees have 31 days from the date of the event to notify Human Resources if interested in changing, adding, or terminating this benefit.
Have questions?
Contact Taylor & Sons
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