- 2023 Benefits
- Norfolk Redevelopment and Housing Authority - 2023
- Additional Benefits 2023
- Basic/Optional Life Insurance 2023
Basic/Optional Life Insurance 2023
VRS Basic Group Life Insurance
NRHA provides Basic Life Insurance through the Virginia Retirement Services (underwritten by Minnesota Life) to eligible employees. The Basic Life Insurance benefit is equal to two (2) times your eligible annual salary, rounded to the next highest thousand. Coverage is automatic upon employment and paid by NRHA for eligible employees. No medical examination is required. The plan carries a conversion option upon termination of employment for reasons other than retirement. It is important for you to know that there is imputed income on any NRHA provided Employee Life Insurance coverage over $50,000. This is required by government tax regulations. This imputed income is taxable and you therefore must pay taxes on this amount. For more information click here.
The Virginia Retirement System (VRS) administers the Group Life Insurance Plan. Minnesota Life provides the coverage. Certificate of Insurance for Group Life If you have questions about your life insurance coverage, contact Securian’s Richmond Office using any of the options below: firstname.lastname@example.org ;1-800-441-2258; P.O. Box 1193, Richmond, VA, 23218-1193. For inquires contact VRS at 1-888-827-3847 Mon-Fri from 8:30 to 4:00pm. VRS Website - Information about VRS
To add or change your beneficiaries visit: MyVRS Portal
Optional Life Insurance
NRHA offers Optional Life Insurance through Securian Financial (Minnesota Life) to you, your spouse and your dependent children at an age based group rate fully paid by you. Certificate of Insurance for Group Life. Optional Life Insurance is available to newly hired employees without Evidence of Insurability for Options 1-8 coverage (up to guaranteed issue $400,000), if selected within the first 30 days of hire. Employees can also enroll/make changes at any time during the year. Optional group life insurance provides benefits for natural and accidental death or dismemberment. Employees pay the premiums through payroll deduction.
Optional Life Insurance Special Enrollment Period (October 1, 2022 to November 30, 2022):
- For employees not previously enrolled in VRS Optional Group Life Insurance, you are eligible to enroll during the Special Enrollment Period effective (October 1, 2022 to November 30, 2022)—Open Enrollment with same Guaranteed Issue (Options 1 – 8)as previously available only to new hires without answering health questions (EOI).
- Members who already participate in the VRS Optional Group Life Insurance program can increase their existing coverage by one level (e.g., if their current coverage is 1x compensation, they can increase to 2x) not to exceed the lesser of 4x compensation, or $400,000, during the Special Enrollment Period (October 1 to November 30, 2022) without answering health questions (EOI).
- The maximum coverage options increased to 8x, however, coverage amount remains unchanged at $800,000 for individuals and $400,000 for spouses.
To take advantage of the Special Enrollment visit https://myvrs.varetire.org/login/. Once logged in/registered, click My History, Life Insurance, and then the Visit Securian button.
To Enroll and Make Changes
You can apply for, add, decrease, or terminate Optional Life Insurance at any time during the year. Complete the Group Life Insurance Application (VRS-39) and if electing more than the guaranteed issued, complete the Evidence of Insurability Form or visit https://myvrs.varetire.org/login/. Once logged in/registered, click My History, Life Insurance, and then the Visit Securian button.
If you are unable to log in here are the forms required: Optional Group Life Insurance Enrollment Application (VRS-39) Evidence of Insurability Form. To make changes here are the forms required: Request for Change Under the Optional Group Life Insurance Form (VRS-39a) Evidence of Insurability Form
Colonial Life Insurance
NRHA offers a voluntary elective supplemental whole life insurance option via Colonial Life Accident and Insurance Company. Colonial Life Insurance offers NRHA Full Time employees the choice of term, universal, or whole life insurance options with coverage available for the employee, spouse, and children. These plans are portable and can be continued if you retire or leave your job. Make an appointment with your Colonial Benefits Counselor, Sue Brosemer, and let her help you choose the right life insurance policy for you and your family:
Sue Brosemer, Benefits Counselor, Colonial Life Insurance Co., Cell: (757)651-8413 Fax: (804)642-5899 email@example.com
HAI Life Insurance
NHRA offers a group life insurance automatically to all active full-time employees with a benefit of $5000.
If you have questions on how to obtain life insurance through NRHA, contact David Campbell at firstname.lastname@example.org.