The State of Indiana offers five types of coverage: basic, supplemental, voluntary AD&D, spouse dependent life, and child dependent life insurance. Take the time to review your finances and consider which option and coverage amount is best for you and your family.
Within your Open Enrollment event you can make the following changes without going through underwriting:
- Electing Voluntary AD&D and Child Only Dependent Life insurance (if you are currently enrolled in Basic Life and AD&D insurance).
- Child Only Dependent Life insurance may be elected in increments of $5,000 up to and including $20,000 for your children.
- Decreasing your coverage level or dropping any of your life insurance plans.
- Updating your beneficiary information and/or allocation amounts.
Some life insurance changes require Evidence of Insurability (EOI). EOI is required to enroll or increase your coverage level of basic, Supplemental Life, and Spouse Dependent Life policies.
The EOI application can be completed online at any time. On average the application takes 10 to 30 minutes to complete. Instructions on how to submit EOI through Securian can be found at www.in.gov/spd/openenrollment/files/EOI-Instructions.pdf. Once submitted, Securian reviews your application and informs both you and INSPD Benefits of its decision. If approved, SPD Benefits makes the appropriate changes to your life insurance plans and starts the premium deductions.
New Supplemental Life Options with Evidence of Insurability (EOI)
For 2025, the maximum amount of Supplemental Life coverage is increasing from $500,000 to $750, 000. To apply, please complete the online Evidence of Insurability (EOI) process at www.lifeBenefits.com/SubmitEOI. You may request any amount in increments of $10,000 up to $750,000, if you are enrolled in Basic life insurance. Premiums are based on the amount of coverage and your age. Please note, individuals age 65 and older are limited to $200,000 or less of Supplemental life coverage. If approved, State Personnel Benefits will automatically enroll you in the requested coverage.
Reminder: Supplemental life insurance is offered to most employees in increments of $10,000 up to and including $750,000, regardless of salary level. Employees reaching age 65 or older on or before December 31, 2024, are limited to $200,000 of supplemental life insurance coverage. Employees reaching age 65 during the plan year are automatically reduced to $200,000 of supplemental life insurance coverage and their payroll deductions are adjusted accordingly.
Beneficiary Changes
You may change your beneficiary information at any point during the year. For instructions on how to update your beneficiary information yourself, view the Self-Service Beneficiary Change - Quick-Step Guide. You may also contact the Benefits Hotline at 317-232-1167 or 877-248-0007 for assistance.
If you make a beneficiary change within your Open Enrollment those changes will go into effect on January 1, 2025.