Benefits at a Glance
Employees have the choice to increase their Employee, Spouse and Child Group Term Life Insurance to the amounts shown on the Rates tab.
Rates
Employee & Spouse
Employee and Spouse Rates are listed below, and are age banded. This allows for a more robust benefit offering for Group Life Insurance.
| Age | Employee & Spouse Rate per $10,000 |
Spouse $5,000 |
| Under 25 | $.70 | $.35 |
| 25 – 29 | $.80 | $.40 |
| 30 – 34 | $1.00 | $.50 |
| 35 – 39 | $1.10 | $.55 |
| 40 – 44 | $1.40 | $.70 |
| 45 – 49 | $2.30 | $1.15 |
| 50 – 54 | $3.90 | $1.95 |
| 55 – 59 | $6.30 | $3.15 |
| 60 – 64 | $7.70 | $3.85 |
| 65 – 69 | $13.30 | $6.65 |
| 70 – 74 | $20.80 | $10.40 |
Children
| Coverage | Rate |
|---|---|
| $10,000 | $1.30 |
| $20,000 | $2.60 |
Additional Plan Benefits
Accidental Dealth and Dismemberment matches the life amount for dealth with a benefit schedule for dismemberment.
Waiver of Premium for active employees who are disabled prior to age 60, continues coverage until retirement, recovery or age 70. 9 month waiting period for filing the WOP.
Accelerated Death Benefit allows terminally ill insureds with a 12 month or less life expectancy to accelerate up to 100% of the face amount.
Portability is available to continue coverage when terminate, retire, or other non-medical leave, with increased rates until age 70.
Conversion to an Individual Policy.
Additional Lifestyle Benefits
Ochs Inc, through Securian Financial offers additional services at no cost to employees. This is in addition to the Employee Assistance Program offered with Voya Financial.
Flyer of Available Support Options
There is no additional fee or enrollment for these resources. Just access them as you need them. Lifestyle Benefits are automatically available to active U.S. employees insured with Securian Financial. Your spouse and insurance-eligible children can also use these resources, even if they are not insured with us.
Enrollment & Guarantee Issue
| Minimum | Maximum | Guarantee Issue |
Future GI Amount* |
|
|---|---|---|---|---|
| Employee | $10,000 | $250,000 | $250,000 | $10,000 |
| Spouse | $5,000 | $50,000 | $50,000 | EOI after new hire enrollment |
| Child(ren) | $10,000 | $20,000 | $20,000 | $20,000 |
* Future GI Amount is during a subsequent Annual Enrollment, Employees may increase $10,000 without Evidence of Insurability if there is current coverage in force. There is no Guarantee Issue for future enrollments for Spouse Coverage, Child(ren) are always Guarantee Issue.
There are no age reductions for Supplemental Life Coverage.
Certificate of Coverage
Employee Certificate of Coverage – Minnesota Life/OCHS 1/1/2019 – 12/31/2023
