Voluntary Group Term Life Insurance Premium Calculator
Employees can purchase additional insurance for themselves, eligible spouse and/or child(ren) at group rates through the Voluntary Group Term Life Insurance (VGTLI) program. If you are unsure whether you are eligible for this benefit, go to Benefit Eligibility. For additional information on this benefit, including timing for enrollment opportunities, see the life insurance page.
Premium Calculator for Employee/Spouse Coverage
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Premiums for Child(ren) Coverage
Maximum amount of insurance for a dependent child up to age 26 is $20,000.
Coverage Amount | Monthly Rate | Biweekly Rate |
---|---|---|
$5,000 | $0.40 | $0.20 |
$10,000 | $0.80 | $0.40 |
$15,000 | $1.20 | $0.60 |
$20,000 | $1.60 | $0.80 |
Note: Minnesota Life Insurance Company underwrites the Minnesota Life Voluntary Group Term Life Insurance coverage. This benefit is intended to be a brief outline of benefits available to you and your eligible dependents.
It does not include all the terms of coverage. The entire terms are contained in the Application, Policy, Certificate, and/or Trust Agreement. In the event of a conflict among the Policy, Certificate, and/or Trust Agreement and this document, the Policy, Certificate, and/or Trust Agreement will prevail. This product may not be available in all states.
This is intended to be an overview. Refer to the Plan Document for complete information. In the event the information on these pages differs from the Plan Document, the Plan Document will govern.