Individual and Family Life Insurance Annual Increase Option Period
The Individual and Family Group Life Insurance (I&F) plan offers term life insurance to employees and their spouse or domestic partner and eligible children. Each year, employees who have coverage in force on October 1st may increase coverage during the Annual Increase Option (AIO) period that is from October 7 – November 1, 2013.
All changes made during this period are effective January 1, 2014.
New for 2014 – New Maximum Coverage Levels and a New Plan Certificate
All maximum coverage levels are increasing for 2014.
|Coverage Type||2014 Maximum Coverage Level||2013 Maximum Coverage Level|
|Spouse or Domestic Partner||$150,000||$100,000|
The plan certificate has been updated for this plan. The plan certificate summarizes the main provisions of the policy. It is recommended that you print a copy of the plan certificate for your records.
Actions that May be Taken During Annual Increase Option Period
During the AIO period, covered employees may elect to increase coverage by the following amounts:
- Employee: $5,000; $10,000; $15,000 or $20,000
- Spouse/Domestic Partner: $5,000 or $10,000
- Child(ren): $2,500
Spouse/Domestic Partner or Child coverage cannot exceed your total coverage. If you have Child coverage, new dependent children are covered automatically.
You may increase, decrease or cancel your coverage during the ABE period either through eBenefits or by submitting a paper application. You may also decrease or cancel your coverage at any time during the year by submitting an application.
Your Current Coverage Level and Premiums for 2014
Premiums are not changing for 2014. You can use the Individual and Family Life Insurance premium calculator to see your current coverage level and determine your premium for 2014.
To ensure life insurance benefits are paid to the person(s) of your choosing, complete a beneficiary designation form and submit the form to UW System Administration.
Other Life Insurance Plans
Individual & Family Life Insurance is the only life insurance plan that allows changes during the Annual Benefit Enrollment Period. There is not an opportunity to enroll in or make changes to State Group Life Insurance or UW Employees Inc. Life Insurance. You may enroll in or make changes to Accidental Death & Dismemberment Insurance at any time.
See the UW System Administration Life Insurance site for more information about life insurance plans available to you.