Eligible Employees have the opportunity to purchase GUL insurance to help provide the additional financial protection they need to feel confident that their home, family, and finances can be protected in the event of a premature death.
The content in this portal is for informational purposes only and contains words and phrases that have special meanings. These words and phrases appear in the General Definitions section. The Certificate of Insurance (Certificate), provided to you once coverage has been issued, will contain the specific information on each benefit and additional information (including the eligibility rules for participation) can be found in the Insperity Welfare Benefits Plan Summary Plan Description (SPD).
Note: The information provided in this section is for voluntary (employee-paid) life insurance. If you want information for basic (employer-paid) life insurance, access Insperity PremierTM, or call the Insperity Contact Center at 866.715.3552.
Who is Eligible for Coverage and How Much Can You Buy?
Subject to any applicable restrictions or limitations in the GUL policy, coverage options for you and your family are summarized as follows.
Coverage for You
If you are an Eligible Employee, you may purchase coverage in the following amounts:
If you apply for coverage during a Guaranteed Issue period and your request for coverage exceeds the Guaranteed Issue levels or amounts, only the coverage amounts ABOVE the Guaranteed Issue limits will be subject to insurability requirements. Below is an example showing the amounts above Guaranteed Issue limits that would be subject to insurability requirements:
If you apply for coverage during your eligibility waiting period, coverage will be issued based on your most recent application as of your eligibility date. If you experience a change in your Covered Earnings prior to your eligibility date, your Covered Earnings verified by Insperity as of your eligibility date will be used to process your application elections.
Coverage for Your Spouse/Domestic Partner
You can purchase coverage for your eligible Spouse/Domestic Partner in the following amounts:
If your Spouse/Domestic Partner provides proof of good health, you can purchase coverage up to the lesser of $200,000 or 100% of the employee’s eligible coverage amount.
To be eligible to enroll for coverage, your Spouse/Domestic Partner must be younger than age 65. For coverage to become effective, your Spouse/Domestic Partner must not be: hospitalized, confined at home under the care of a doctor, receiving disability benefits, or unable to perform the normal daily activities of a person of the same age and sex.
Coverage for Dependent Children
If you elect GUL for yourself or for your Spouse/Domestic Partner, you may also purchase insurance for all of your dependent children from live birth to 26 years of age (or dependent children 26 years of age or older who are primarily supported by you and incapable of self-sustaining employment because of a mental or physical disability).*
Once a child no longer qualifies as a dependent, eligibility to enroll for coverage as an adult is available. Note: Employees must notify Cigna when each child is no longer eligible for coverage because Cigna does not collect personal data on children covered under the policy.
A Dependent Child(ren) may be covered under the Insured Employee or the Insured Spouse/Domestic Partner, but not under both.
For dependent child coverage to be effective, the dependent child must not be hospitalized, confined at home under the care of a doctor, or unable to perform the normal daily activities of a person of the same age and gender.
Qualified Life Events (QLE)
If a Qualified Life Event happens, the employee is eligible to enroll for an additional 1 times their Covered Earnings (up to the maximum allowed). A Qualified Life Event are defined as any of the following events:
If you have current coverage and have experienced a Qualified Life Event, please contact Cigna at 800.231.1193 for assistance.
Monthly Cost of Insurance
To determine the cost of coverage, find your age or your Spouse’s/Domestic Partner’s age in the left column of the chart below, then read across to find the monthly cost of insurance for each $1,000 of coverage. Premiums are paid with after tax dollars and do not reflect any contributions made to the CAF. Rates are subject to change but will not exceed the guaranteed maximum cost of insurance shown in your Certificate. You pay your premiums through payroll deduction unless you are on an unpaid leave of absence, in which case you will be required to pay via check.
|Age of Employee or
Spouse/ Domestic Partner*
|Monthly Cost of Insurance
(Rates per $1,000)
*Your age for calculating monthly cost of insurance will be updated on each January 1.
GUL insurance premiums and CAF contributions are paid for with after-tax dollars.
Rates are subject to change.
|Dependent Child Coverage Rates|
|$5,000 of coverage for all your dependent children||$0.90 per month|
|$10,000 of coverage for all your dependent children||$1.80 per month|
Other Benefit Features
Your GUL insurance has several options that help you maintain adequate insurance levels as your needs and circumstances change as well as save money for future retirement needs.
Automatic Increase Option (AIO)
With the Automatic Increase Option, your GUL coverage will increase automatically (up to $25,000 annually, not to exceed the maximum allowed) on each January 1, if you have qualifying salary increases. Your payroll deduction amount will also be increased to cover the higher amount of protection.
If your qualifying salary increase causes your coverage to exceed the $25,000 Automatic Increase maximum, you may be eligible for a coverage increase due to a change in Covered Earnings.
Coverage Increase due to a change in Covered Earnings
You may have additional opportunities to increase your GUL insurance outside of the Automatic Increase Option. An increase in coverage can be requested within 30 days following an increase to your Covered Earnings. The increase will not be subject to proof of good health except for any portion of the requested increase that exceeds $100,000.
Accelerated payment benefit
If you or your covered Spouse/Domestic Partner become terminally ill and the life expectancy is a year or less, you can receive a maximum of 50% of your coverage amount, potentially tax-free. The money is paid out in a lump-sum directly to you, or anyone you designate, to use however you wish. To qualify to receive the benefit, you must provide medical certification from two unaffiliated physicians that your or your Spouse/Domestic Partner’s life expectancy is 12 months or less. Cigna will send payment as soon as your request, medical certification and supporting evidence are reviewed and approved. This benefit is only available one time, and is not available for dependent children coverage. Your premium obligation continues on the full amount of coverage if this benefit is exercised.
The Cash Accumulation Fund (CAF)
Saving money isn’t easy, but the secret to saving is simple…set aside a certain amount out of each paycheck before you receive it. And you can do it painlessly with your GUL CAF. Even a small amount set aside on a regular basis can add up to significant savings over time.
You can contribute through convenient payroll deductions or lump-sum payments. The net cash value you build will earn interest that is income tax-deferred in most cases. The minimum rate will never be less than 4%—a rate of return any saver can appreciate. Under current tax law, the competitive interest you earn on your CAF is income tax-deferred as long as it remains in your account. And that means your interest compounds faster because it isn’t eroded by taxes each year.
Maximums are based on the Internal Revenue Code (IRC) limits and are subject to a 2% premium charge, which represents a portion of the state and federal tax imposed on contributions made to the fund. Since contributions are subject to very specific IRC guidelines, dependent upon your age, cost of insurance, and effective date of your Certificate, it is recommended that you contact the Cigna Customer Service Center at 800.231.1193 and a customer service representative will calculate the maximum contribution for you.
Under current tax law, the competitive interest you earn on your CAF is income tax-deferred as long as it remains in your account. And that means your interest compounds faster because it isn’t eroded by taxes each year.
Cash Accumulation Fund Growth Charts
The charts below show how rapidly the CAF can grow at the tax-deferred guaranteed minimum interest rate of 4% (Column 2) when compared to a traditional savings account earning the same, non-tax-deferred 4% interest rate (Column 5). The numbers shown below are on a cumulative basis. The charts assume that the CAF contribution, cost of insurance and deposits to a traditional savings account are paid on a monthly basis.
|$50 Monthly Contribution Scenario|
|TRADITIONAL SAVINGS ACCOUNT|
|COLUMN 1||COLUMN 2||COLUMN 3||COLUMN 4||COLUMN 5|
|YEARS||CAF 4%||TRADITIONAL SAVINGS
|AMOUNT LESS TAX
(savings - total tax)
|$100 Monthly Contribution Scenario|
|TRADITIONAL SAVINGS ACCOUNT|
|COLUMN 1||COLUMN 2||COLUMN 3||COLUMN 4||COLUMN 5|
|YEARS||CAF 4%||TRADITIONAL SAVINGS
|AMOUNT LESS TAX
(savings - total tax)
The CAF contribution scenario reflects a 2% premium charge. The traditional savings account scenarios assume a 25% tax bracket. The actual CAF interest rate can adjust quarterly but will never go below 4%. Current savings account interest rates are below 4%. Actual rates can be more or less favorable than shown. Savings account interest rates are not guaranteed, fluctuate with market conditions and vary among financial institutions. A CAF is not federally insured (FDIC). As an insurance product, it must comply with each applicable state’s specific insurance reserve requirements.
Easy access to your money
You can borrow against your CAF or make an outright withdrawal. The minimum loan or withdrawal amount is $250. You will be charged a $25 transaction fee for each withdrawal.
When you do decide to withdraw your money, you’ll only pay taxes if the withdrawal amount exceeds the amount of your total contributions (cost of insurance plus CAF contributions).
If you want to take out a withdrawal, complete the Funds Withdrawal form located in the Forms section below.
If you want to take out a loan, call the Cigna Customer Service Center at 800.231.1193 and ask for the appropriate form. You’ll be assessed 8% interest annually on the outstanding loan amount, but will continue to be credited 6% on the loan account value. You should not owe any income tax on your loan unless you cancel your coverage or your coverage lapses.
When Does Coverage Begin and End?
For You (and your Dependent(s), if applicable), coverage will begin on the later of your Benefits Eligibility Date or the date we receive the completed and signed application/payroll authorization form, if:
Otherwise, coverage will start on the date Cigna agrees in writing to cover you (and your dependents, if applicable). Proof of good health is required if you apply more than 30 days after your Benefits Eligibility Date or you apply for more than the Guaranteed Issue amount.
If you are not actively at work on the date coverage would become effective, coverage will become effective on the first day you return to an active full-time status unless you do not return to work prior to a loss and subsequent regain of eligibility, which generates a new application opportunity as defined in the certificate of coverage.
For You (and your Spouse/Domestic Partner, if applicable), coverage will end on whichever comes first:
Dependent children coverage will end on whichever comes first:
If your employment with Insperity ends, you can keep your coverage, but higher rates may apply.
Your coverage is portable, meaning you do not have to apply to continue your coverage after your employment ends. Cigna will automatically bill you directly for the cost of your GUL insurance at portable rates. Any additional contributions you make to the Cash Accumulation Fund may also be included in this payment.
You will receive your first bill within 60 days from your employment termination date. Portability rates are available upon request from the Cigna Customer Service Center.
Designating Your Beneficiary
You can designate your beneficiaries during the enrollment process and maintain your beneficiaries online once your coverage is issued by clicking on My Account.
If the listed beneficiary is a trustee or a trust, you will need to enter the trustee's name, the name of the trust and the date of the trust agreement. The trust document must be presented in order for the claim to be processed.
Need To Access Or Designate Your Beneficiaries?
Below are steps to access your beneficiary designations online:
You can also designate and/or change beneficiaries using the paper Beneficiary Designation form.
Understanding these words and phrases may be helpful as you read through the information about GUL insurance.
An employee is in active service on a day which is one of the employer’s scheduled work days if either of the following conditions are met.
An employee is in active service on a day which is not one of the employer’s scheduled work days only if he or she was in active service on the preceding scheduled work day.
Affordable Care Act (ACA)
The federal health care reform legislation that was enacted in 2010, as amended.
Applicable Large Employer (ALE)
An employer that employed, on average, at least 50 full-time employees (including full-time equivalent employees), as defined by the ACA, on business days during the preceding calendar year. Contact Insperity if you have questions concerning ALE determinations and whether you are an employee subject to these rules.
Benefits Eligibility Date
The first date you are eligible to become covered following satisfaction of any required waiting period (as provided in your enrollment materials).
For Full-Time employees, Covered Earnings is your base annual salary, plus actual earnings for the previous 12 months. For part-time employees, this is actual earnings for the previous 12 months. If the employee has been employed for less than 12 months, actual earnings will be annualized.
Covered Earnings includes commissions, piece-work and fee based work. It does not include bonuses, overtime pay, special pay or another form of extra compensation.
A person (of the same or opposite sex as the eligible employee) engaged in a spouse-like relationship with the eligible employee characterized by mutual caring and dependency. In addition, the eligible employee and domestic partner have to (a) be registered as domestic partners under any governmental law or ordinance or civil union law creating legal rights and obligations similar to marriage; or (b) satisfy all of the following requirements:
Important Note: In order to file a claim for benefits, proof of the domestic partnership as indicated above must be furnished the same as proof of a marriage. If you are applying for domestic partner coverage, it is recommended that you retain a notarized affidavit along with the documentation set forth above, or proof of your domestic partner registration, in case required for a claim submission. Claim payment may be delayed if this information is not on file with the insurer at the time the claim is made. An Affidavit of Domestic Partnership form may be found on the Insperity PremierTM Platform (portal.insperity.com), or by contacting Insperity toll-free at 866.715.3552.
The Plan administers two sets of eligibility rules – one for employees of a non-ALE company and one for employees of an ALE company, as described below and in the SPD.
Employees of a Non-ALE Company
You are an Eligible Employee if your benefits package from Insperity includes coverage under the Plan and you are:
Employees of an ALE Client Company
You are an Eligible Employee if your benefits package from Insperity includes coverage under the Plan and if you are:
Eligibility for employees of an ALE Client Company will be determined based on hours worked during the employee’s Measurement Period. Once the employee is determined by Insperity to be eligible for benefits, eligibility will be retained during the Stability Period associated with that Measurement Period (regardless of any changes in hours worked during the Stability Period).
Certain exclusions may apply. Please see the Certificate for more information.
An amount of insurance you can buy during the application period without having to provide proof of good health.
The highest amount of GUL insurance that Cigna provides to you.
Proof of Good Health
Evidence of your good health. As an example, your responses to medical questions on an insurance application.
For the purpose of eligibility for insurance, the lawful spouse of an employee.
Apply Today - Important Tips for Applying for Coverage Online
You can apply For Group Universal Life Insurance Online by using the "Apply Now" button to the right. Or, you can Complete An Application and submit to Cigna.
Important Tips For Applying For Coverage With Cigna Trusted Advisor
Complete, sign and date the enrollment application and return to Cigna at the address shown on the form or via email at DSM_CignaCustomerSupport@infymccservices.com.
If you have questions, please call 800.231.1193 to speak to a Cigna representative (Monday through Friday, 8 AM to 5 PM CST or 9 AM to 6 PM EST).
Can I keep this insurance if I leave my employer?
Do I have to provide proof of good health?
Are there any other programs I should know about?