Basic Life Insurance
Mason automatically provides a life insurance benefit through Securian Financial for full and part-time Faculty and classified staff (50% appointment time or greater) effective on your employment date. The benefit is equal to two times your annual salary for a natural death and four times your annual salary for an accidental death. Mason pays the entire premium. A benefit amount above $50,000 is subject to taxes, per IRS regulations.
Please visit the Virginia Retirement System website for more information on the Basic Life Insurance Plan.
Optional Life Insurance
Designed to supplement the basic group life insurance coverage, Virginia Retirement System Optional Life, also underwritten by Securian Financial, gives you the opportunity to purchase additional insurance for you and your family. The plan offers limited guaranteed issue within 31 days of employment. This plan is available to full and part-time Faculty and classified staff (50% appointment time or greater). You pay the premiums through payroll deduction.
Please visit the Virginia Retirement System website for more information on the Optional Life Insurance Plan.