Consider your life insurance options as a retiree

A&M Systems Group term life and AD&D insuranceRetiree options

Insurance products issued by: Minnesota Life Insurance Company

Your coverage in retirement Retirement brings many decisions and choices that can seem overwhelming. Your family’s financial security is important and your group life insurance program is an important part of your plan. This is a summary of your retiree group life insurance available from A&M System.

Make sure your beneficiaries are up-to-date!By naming a beneficiary, you are able to ensure that your life insurance benefit is passed on to those you want to help the most. Events such as marriage, birth/adoption of children, divorce or death may dramatically change the intent of how you would want your life insurance benefit paid.

Enroll Go to workday https://sso.tamus.edu

Questions?Call Securian Financial at 1-877-443-5854

Your basic and optional coverages

Basic coverage (automatically enrolled)

Basic term life and AD&DIf you have health coverage with A&M Systems:

Term life: $7,500

AD&D: $5,000

Child life: $5,000 for each eligible dependent child

Monthly cost: Employer paid

Alternate basic term life (ABL) and AD&DIf you have health coverage outside A&M Systems:

Term life: Up to $50,000

AD&D: $5,000

Child life: $5,000 for each eligible dependent child

Monthly cost: Employer paid (age reductions apply)

Basic term life and AD&DIf you have no health coverage:

Term life: $7,500

AD&D: $5,000

Child life: $5,000 for each eligible dependent child

Monthly cost: $0.564 per $1,000 per month (retiree-paid)

Optional coverages

Optional life $1,000 increments

• Maximum coverage: Under age 70: $100,000 Age 70-80: $60,000 Over age 80: $30,000

• Not available to retirees covered under alternate basic life (ABL)

• Age reductions apply the first day of the month following your birthday

Dependent term life

Option A (only current optional life participants):Under age 70: $50,000

Age 70-80: $30,000

Over age 80: $15,000

Enrolled children: $10,000

Option BEnrolled spouse and children: $5,000 term life and a matching $5,000 AD&D

Option C (only current ABL participants):• Enrolled spouse: 50% of retiree's ABL coverage

• Enrolled children: 10% of retiree's ABL coverage

Spouse considerations • Coverage cannot exceed 100% of a retiree's

optional life amount

• A spouse is not eligible for coverage if he/she is enrolled for coverage as a retiree

• Based on retiree's age

Child considerations• Children are eligible from live birth to 26

• A child may only be covered by one parent

• Maximum coverage: lesser of 50% or $15,000

Optional AD&D

Retiree plan: $10,000 increments

• Maximum coverage: Under age 70: $200,000 Age 70 and over: $60,000

• Maximum child coverage: $25,000

Family plan: (percent of retiree's principal sum):• Spouse (with children): 50%

• Spouse (no children): 60%

• Each child (with spouse): 10%

• Each child (no spouse): 15%1 At age 80, ABL coverage reduces to $30,000.

This is a summary of plan provisions related to the insurance policy issued by Minnesota Life Insurance Company to Texas A&M. In the event of a conflict between this summary and the policy and/or certificate, the policy and/or certificate shall dictate the insurance provisions, exclusions, all limitations, and terms of coverage. All elections or increases are subject to the actively at work requirement of the policy. Products offered under policy form series MHC-96-13180.42 and 02-30428.42.Securian Financial is the marketing name for Securian Financial Group, Inc., and its affiliates.

Here’s the easy math to your monthly premium:Total coverage you need $

÷ 1,000 $

x your rate $

= Monthly premium $

How much life insurance do I need? Check out our life insurance calculator at LifeBenefits.com/insuranceneeds

Monthly cost of coverageRetiree and spouse rates shown per $1,000 per month and increase with age.

Optional retiree term life

Age Non-tobacco Tobacco

Under 25 $0.050 $0.100

25-29 0.050 0.100

30-34 0.050 0.100

35-39 0.060 0.120

40-44 0.070 0.140

45-49 0.120 0.240

50-54 0.200 0.400

55-59 0.360 0.720

60-64 0.560 1.120

65-69 0.760 1.520

70-74 1.430 2.860

75 and over 2.000 4.000

Dependent term life option A — spouse

Age Non-tobacco Tobacco

Under 25 $0.050 $0.060

25-29 0.060 0.072

30-34 0.080 0.096

35-39 0.090 0.108

40-44 0.100 0.120

45-49 0.150 0.180

50-54 0.230 0.276

55-59 0.430 0.516

60-64 0.660 0.792

65-69 1.270 1.524

70-74 2.060 2.472

75 and over 2.000 4.000

Dependent term life

Option A — Children $0.06 per $1,000 per month

Option B — Spouse and children $1.37 per $1,000 per month

Option C — Spouse $0.282 per $1,000 per month

Option C — Children $0.0564 per $1,000 per month

Retiree voluntary AD&D

Retiree $0.028 per $1,000 per month

Retiree and family $0.046 per $1,000 per month

All rates are subject to change.A tobacco user is defined as an individual who has used tobacco in any form during the past 3 months or is currently using nicotine in any form. If a tobacco status is not designated, premiums will be deducted at tobacco rates.

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400 Robert Street North, St. Paul, MN 55101-2098 ©2018 Securian Financial Group, Inc. All rights reserved.

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