Enhance your life insurance protection with voluntary AD&D coverage

4-minute read

Voluntary Accidental Death and Dismemberment (AD&D) Insurance through the Texas Employees Group Benefit Program (GBP) provides additional financial protection in the event that a covered accident results in an insured person’s loss of life, limb or sight—whether that accident occurs at work or elsewhere.

• In the event of accidental death, this benefit is paid on top of your Basic Term Life Insurance and any Optional Term Life Insurance benefits—not in place of them. Your beneficiary would receive both the life and AD&D benefit amounts.
• For dismemberment or loss of sight, a percentage of the benefit amount is paid to the employee, according to the severity of the loss.
• The AD&D benefit is payable at the full coverage amount even if you/your beneficiary gets payment from another source due to the accident, such as Worker’s Compensation or payment from a lawsuit.

The GBP’s Basic Term Life Insurance and Optional Term Life Insurance include an AD&D benefit that matches the amount of your term life insurance. (Every employee enrolled in GBP health insurance automatically is gets $5,000 of Basic Term Life Insurance coverage, including $5,000 of AD&D coverage. Employees can pay an additional monthly premium for Optional Term Life Insurance that includes a matching level of AD&D coverage.)

On top of the AD&D benefit that matches your term life insurance, you can purchase Voluntary AD&D Insurance. You have the choice of enrolling for Voluntary AD&D for yourself or for yourself plus your dependents. If you choose the employee + family option, they will be insured for a percentage of the amount you chose for yourself.

Coverage levels

For active employees under age 70:
Choose a benefit from $10,000 to $200,000 in increments of $5,000.

Dependent coverage (if you elect employee + family):
Your spouse: 50% of your amount

Each child:

• 5% of the employee’s amount if there is a spouse who is eligible for GBP AD&D insurance as an employee or
• 10% of the employee’s amount if there is no spouse who is eligible for GBP AD&D insurance as an employee

Cost

The current monthly premium per $1,000 of coverage is $0.02 for the employee only, or $0.04 for the employee + family. For example, if you elected $75,000 of coverage, the current cost per month is:

• $1.50 for employee-only coverage or
• $3.00 for employee + family coverage.

Please keep in mind that costs could change for Plan Year 2025 (starting Sept. 1, 2024). Plan Year 2025 rates will be available in late May, after the Employees Retirement System of Texas (ERS) Board of Trustees votes on them.

How to enroll

You may enroll for voluntary AD&D coverage for yourself and dependents

• during Summer Enrollment,
• within 31 of a qualifying life event such as marriage or a new child or
• within 31 days of starting work at an agency or higher education institution that participates in the GBP.

You do not need to go through evidence of insurability to enroll. And once your coverage is effective, you never have to re-enroll to continue your coverage. You can increase, decrease or drop your coverage during your annual Summer Enrollment phase or within 31 days of a qualifying life event.

Learn more

Visit Securian Financial’s website to learn more about your life and AD&D insurance program.

Questions?

Contact Securian Financial’s Austin service office at austinbranchoffice@securian.com or (877) 494-1716.

This information is related to the insurance policy issued by Minnesota Life Insurance Company to the Employees Retirement System of Texas. In the event of a conflict, the policy and/or certificate shall dictate the insurance provisions, exclusions, all limitations and terms of coverage. All elections or increases are subject to the actively-at-work requirement of the policy.

Insurance products are issued by Minnesota Life Insurance Company. The company is headquartered in St. Paul, MN. Securian Life is solely responsible for the financial obligations under the policies or contracts it issues.

Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries. Minnesota Life Insurance Company is a subsidiary of Securian Financial Group, Inc.