Life Insurance

Employees who do not currently have Supplemental Life Coverage may elect to purchase the first level of coverage ($20,000) with no medical questionnaire required.  Employees with current supplemental coverage can increase their coverage by one level without completing a medical questionnaire.  Employees who wish to obtain additional life insurance above $20,000 or more than one level above their current coverage must complete the MetLife Evidence of Insurability Statement (medical questionnaire).  Rates for Supplemental Life Insurance are based on the employee’s age and the amount of coverage.   Please see the Life Insurance rate sheet for more information.

Employees who wish to sign up for spouse coverage or dependent coverage will require a statement of health questionnaire to be completed by the employee.  Spouse coverage is available in the amount of $10,000.00.  The cost is $2.84 a month.  Dependent coverage is available in the amount of $5,000.00.  Dependent coverage is available for children ages 15 days through age 19, or 25 if a full time student.  The cost is $.90 a month.

Employees should make sure their beneficiaries are up-to-date.  If you have had one of your beneficiaries die or you want to change the beneficiary due to marital or personal reasons, please change your beneficiaries.   Employees can change their beneficiaries at any time during the year by completing and sending in a new beneficiary form.

Basic Benefit

Knox County Schools provides employees with a life insurance benefit at no cost to the employee. The benefit is 1 ½ times the employees’ annual salary. The minimum benefit is $20,000.00 and the maximum benefit is $50,000.00.

Supplemental Insurance

Additional supplemental coverage may be added by the employee within the first 31 days of employment or within 30 days of a qualifying event. The employee will pay the additional cost. The additional cost can be determined by viewing the Supplemental Life Insurance Rates table. Employees can also increase their supplemental life insurance one level during open enrollment/annual transfer (October 15 – November 15 each year).

Child Coverage

Employees may obtain $5,000 of coverage for their children during their first 31 days of employment or within 30 days of a qualifying event. Employees pay one premium regardless of the amount of children they have on the form. As an example, a monthly employee with three children pays $.90 a month. A monthly employee with one child pays $.90 a month. Children are covered from 15 days until the age of 19 or it can be extended to the age of 25 if they are a full time student.

Children with Disabilities older than 19 or 25

If a child is disabled, they can be covered after the age of 19 or 25. Additional paperwork must be completed in order to be covered.

Spouse Coverage

Employees may obtain $10,000.00 of coverage for their spouses if they submit paperwork during the first 31 days of employment or within 30 days of a qualifying event.

Late Applicants

Employees who did not sign up for coverage during their first 31 days of employment can apply for any of the supplemental life insurance coverage by completing the Life Insurance Enrollment/Change Request form and by also completing the Evidence of Insurability form. Both forms must be completed and sent to Employee Benefits for further processing before it can be submitted to the life insurance carrier.

Claims

Employees or beneficiaries should contact Employee Benefits regarding the death of a covered individual. Employee Benefits must have a certified Death Certificate in order to process the claim. Please let Employee Benefits know as soon as the death occurs to stop additional premiums from coming out of the payroll check.

Beneficiaries

Beneficiaries can be changed at any time. It is important that employees change their beneficiaries when their marital status changes or circumstances change. As an example, if the beneficiary is not changed an ex-spouse could receive the life insurance benefit even though there is a new spouse.