Life Insurances

Minnesota Life

February 2010 2APRIL 2010

Questions to Consider

How many people depend on you for support?

Do you have a mortgage to pay off?

Do you have other debts to pay (e.g. car payment,

bank loan, or credit cards)?

How much will you pay for your children’s education?

Are your current assets adequate to cover these

expenses?

February 2010 3APRIL 2010

Employee Group Term Life

Coverage Available 1x, Benefit Salary (capped at

$300,000) 2x,3x,4x,5x,6x,7x, 8x, or 9x

Benefit Salary- max $500,000 Enhanced Accelerated Death

Benefit – lump sum up to 100% of life insurance if given 12 months or less to live

Total Disability - Waiver of Premium

Total Disability - One Year Continuance

Premiums - Pre-tax Based on Selected

Coverage, Benefit Salary & Benefit Age

Imputed Income - Coverage over $50,000

February 2010 4APRIL 2010

Employee Group Term Life

Coverage will be based on Benefit Salary

Amount is rounded up to the next higher $1,000

Age 65 or older, the value of the coverage is reduced

February 2010 5APRIL 2010

Spouse Life Option

Coverage Amounts

- $ 6,000 - $60,000 - $200,000 - $12,000 - $100,000 - $250,000 - $30,000 - $150,000

Coverage cannot exceed value of Employee Life Coverage

Subject to Age Discrimination in Employee Act/Age Reduction (ADEA)

Rate Structure Based on Employee’s Age

Must have Employee Life in order to select Spouse Life

February 2010 6APRIL 2010

Child Life Option

Coverage Amounts

- $ 3,000 - $15,000 - $ 6,000 - $20,000 - $10,000

Coverage cannot exceed value of Employee Life Coverage

Coverage can begin at live birth. There shall be automatic coverage of

$3,000 for a newborn child if the child dies within 30 days of birth, but prior to

you enrolling in child life coverage.

February 2010 7APRIL 2010

Medical Underwriting

New Employees

Enrolling For the First Time

EMPLOYEE LIFE Life Medical Underwriting Requirements

Enrolling in 1 times pay

(capped at $300,000)

NONE

Enrolling in 2, 3, 4, 5, 6, 7, 8, or 9 times pay Coverage over $200,000 Minnesota Life Evidence of Insurability online form and Amplified Blood Test required

SPOUSE LIFE Life Medical Underwriting Requirements

Enrolling in coverage $30,000 or less NONE

Enrolling in coverage over $30,000 Minnesota Life Evidence of Insurability online form required. Amplified Blood Test required for coverage $150,000 or greater

CHILD LIFE Life Medical Underwriting Requirements

Enrolling for the first time in any level NONE

February 2010 8APRIL 2010

Medical Underwriting Current Employees

Current employees may change coverage levels due to a Qualifying

Event

• Increases in coverage levels will require Medical Underwriting

Employees selecting coverage, requiring Medical Underwriting, will

receive the “Guaranteed” level of coverage initially

Employees, whose “Requested” level of coverage is approved:

• Coverage and Premium will change the first of the month after the

date of vendor’s approval

• Reduces the need for refund of premiums