Special Enrollment Period for VRS Optional Life Insurance Underway
A One-time Opportunity for Members to Enhance Their Optional Group Life Insurance, Occurring Now through Nov. 30th
VRS, working with Securian Financial, is offering a one-time opportunity for members to enhance their optional group life insurance protection without medical underwriting during a special enrollment window until November 30, 2022.
- Members who do not currently participate in the VRS optional group life insurance program will have a one-time opportunity to enhance life insurance protection without answering health questions. Normally, new hires have just 31 days to apply for optional life insurance without proof of good health. Those who missed that opportunity may enroll in the Optional Group Life Insurance Program for the first time for additional coverage equal to 1x your creditable compensation. If you were previously denied coverage due to medical underwriting, you will be able to take advantage of this one-time opportunity to apply without proof of good health.
- Members who already participate in the VRS optional group life insurance program can increase existing coverage by one level (e.g., if their current coverage is 1x compensation, they can increase to 2x) not to exceed the lesser of 4x compensation, or $400,000, without answering health questions.
Active employees may apply for higher levels of coverage, but must complete a health questionnaire.
How to Apply
VRS members will receive more information via email and direct mail regarding this special enrollment opportunity. Employees who are interested in applying for increased coverage can easily apply for optional group life insurance by accessing their myVRS account, available through www.varetire.org.
Once logged in to myVRS, select "Life Insurance" under the "My History tab" and then the "Visit Securian" button. Once enrolled, members can change coverage online using the secure link to Securian through myVRS.
For life insurance benefit and coverage questions, contact Securian’s Richmond branch office at 1-800-441-2258 or send an email to [email protected].