Changes in Life Insurance Benefits
Thanks to recent legislation, all eligible state workers who are not enrolled in a state health plan will soon receive a basic term life and basic special accident life insurance benefit at no cost.
The policy takes effect on Jan. 1, 2008, and all employees who meet the eligibility criteria are required to fill out the Beneficiary Designation Form, which was mailed to employees last month. All Knoxville area employees should return the form to the Payroll Office at P115, Andy Holt Tower as soon as possible.
To receive the benefit, employees must be classified as regular and work a minimum of 75 percent time. The face value of the basic term life coverage is $20,000 and $40,000 for basic special accident coverage for employees younger than 65 years. Face value is decreased accordingly for employees 65 and older. Additional information about the benefit can be found at http://payroll.tennessee.edu/.
If you did not receive the designation form or have questions, please call the Payroll Office at (865) 974-5251.