The State of Florida offers eligible employees term life insurance, including an accidental death and dismemberment benefit, underwritten by The Prudential Insurance Company of America. The insurance is available to full-time and part-time State employees.

• State of Florida Basic Group Life Insurance Plan, Prudential
  
  • Coverage and Premiums
  • Tax Treatment
  • Accidental Death and Dismemberment
  • Accelerated Death Benefits
  • Conversion Privileges
    
• State of Florida Optional Life Insurance Plan, Prudential
  
  • Enrollment Information
  • Portability
  • Rates
  • Your Monthly Cost
    
• Supplemental Life Insurance, Gabor
  
• Life Insurance FAQ’s

State of Florida Basic Group Life Insurance Plan, Prudential

• COVERAGE and PREMIUMS
  • For most employees, including full-time Career Service and University employees, coverage is 1.5 times base annual earnings and the employee pays 20% of the premium.
    
  • For Senior Management Service, University Senior Management (non-faculty), Selected Executive Service, Legislative employees, and employees of other certain classes, coverage is double the base annual earnings and the State of Florida pays the full premium as an additional employee benefit.
    
  • Coverage amounts will be reduced by 50% at age 70 for all active employees.
    
  • Part-time employees should contact the Human Resources Benefits Section to determine coverage level and premium.
    
  • Death benefits will be paid to the designated beneficiary(ies), a designation that may be changed at any time during the year. If a beneficiary is not designated in writing, the insurance proceeds will be paid to the policyholder’s estate. Payments made to an estate, however, may result in a reduction in total benefits due to taxes and probate costs.
    
  • To enroll in basic state life insurance, fill out this form and return to Benefits.
    
    
• TAX TREATMENT
  
  
  • Employees must include in income (taxable earnings) the cost of group life insurance provided directly or indirectly by the employer only to the extent that such cost exceeds the cost of $50,000 of coverage for such insurance and the amount (if any) paid by the employee toward the purchase of such insurance.
    
  • The cost of group term life insurance for purposes of this exclusion is not based on the employer’s actual cost of providing such coverage, but is determined under the IRS uniform table method. The amount that must be included in income is determined by a calculation based on amount of coverage, cost of coverage, and age of the covered person. That amount is then added to the employee’s actual taxable income to determine income tax liability.
    
  • Those employees who have higher earning levels with correspondingly higher coverage levels, or who occupy positions in classes for which the full premium for the Basic Term Life Plan is paid by the State, may wish to review their tax liability
    
    
• ACCIDENTAL DEATH and DISMEMBERMENT
  
  
  • The basic life insurance coverage also includes an additional benefit of accidental death and dismemberment coverage. Life insurance enrollees are eligible for significant benefits which will be paid in the event of accidental deaths or certain injuries. Payment amounts vary from 25% to 100% of the coverage amount depending upon the severity of the injury, but no more than 100% of the insured’s coverage amount is payable for all losses due to the same accident. Participants may also be eligible to receive benefits for the loss of use of limbs, in instances where no amputation is required.
    
    
• ACCELERATED DEATH BENEFIT
  
  
  • The Accelerated Death Benefit, or "living benefit option," may provide covered members an advance benefit in the event of a terminal illness diagnosis that will result in death within a two-year period.
    
  • Covered members may be eligible for up to 80% of their life insurance benefits, with a maximum of $50,000.
    
  • Upon death, the balance of the life insurance benefit will be paid to the named beneficiaries. (NOTE: if participants have the Optional Life Insurance, the benefits under the basic and optional plans will be coordinated so that only a maximum of $50,000 is paid to the enrollee. The balance of the benefit will be paid to the beneficiaries upon the death of the enrollee.)
    
    
• CONVERSION PRIVILEGES
  
  
  • Life insurance coverage will be discontinued under the following circumstances:
    
    • when employment with the State is terminated, when an employee becomes ineligible for coverage, or when an employee fails to pay the required premium contributions.
      
  • At that time, the employee has the option of converting some or all of the life insurance to an individual contract. Regardless of age or health, an employee may purchase a standard life insurance plan, provided the conversion request and premium payment are made to Prudential within 31 days of group plan termination.
    
  • Interested employees should contact The Prudential Insurance Company of America directly for the conversion forms and applicable premium information.
    

State of Florida Optional Life Insurance Plan, Prudential

• Enrollment Information
  
  • State employees who enroll in the basic term life insurance plan also have the opportunity to purchase additional term life insurance. They may add coverage by selecting amounts from one to five times their base annual earnings, up to a maximum of $500,000. Although this is an "employee-pay-all" benefit, the premiums are competitive.
    
  • At the time they are first hired, employees may purchase coverage in increments from one to five times their base annual earnings on a guaranteed-issue basis. This means that they may do so without medical underwriting, that is, they do not need to present evidence of insurability at the time of initial employment.
    
  • If they later wish to add coverage during an Open Enrollment Period, they may increase the amount of their benefit by an amount equal to their base annual earnings without medical underwriting. If they wish to increase the amount of their benefit by more than their base annual earnings, they will be subject to medical underwriting.
    
  • Those employees who decline optional life coverage when first hired but subsequently wish to enroll during Open Enrollment will also be subject to medical underwriting. In cases in which underwriting is required, the Prudential Insurance Company of America will conduct an underwriting review and coverage may be declined based on individual medical factors.
    
  • The brochure published by The Prudential Insurance Company of America has additional information about the State Group Life Insurance Program and can be obtained from the Human Resource Benefits Section.
    
  • To enroll in Optional Life Insurance, fill out this form and return to Benefits.
    
    
• Portability
  
  • Optional Life Insurance is portable if you are under the age of 70 and leaving state employment for reasons other than disability or retirement. Optional Life Insurance is also convertible to a permanent plan of insurance with Prudential. The rates for porting the optional group term insurance are available through Prudential.
    

Note: Most of the forms on this site are in PDF format, unless otherwise indicated, and require Adobe's Acrobat Reader, which you can obtain from the following link: