If you do not have a beneficiary designated for your State life insurance coverage, you are strongly encouraged to provide this important information!
What do I need to do?
Complete the BENEFICIARY DESIGNATION FORM and mail it directly to Minnesota Life at the address on the bottom of the form. After submission of this form, you will receive a confirmation from Minnesota Life through U.S. postal mail.
Why is a beneficiary important?
Your beneficiary designation is your statement of who you want to receive your life insurance benefits. Without a beneficiary designation, in the event of your death, benefits can be delayed and may exclude those you wished to receive benefits. Having a beneficiary designation on file will ensure that your insurance benefits will be distributed more quickly, and to the individuals you specified.
What if I didn’t sign up for life insurance?
As a benefits-eligible employee you are automatically enrolled in State of Illinois’ basic term life insurance in an amount equal to your annual salary. Please note that up to $50,000 of life insurance is tax exempt, and amounts in excess of $50,000 are taxed as imputed income.
Questions?
See the State Group Life Insurance web page or contact University Payroll and Benefits (UPB).
Mail the completed form to: Minnesota Life Ins. Company, Springfield Branch Office, PO Box 2327, Springfield, IL 62705-2327
