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Life insurance, offered by Standard Insurance Company, provides your surviving family members with the funds to meet existing financial obligations, such as unpaid medical bills, funeral expenses, mortgage payments, and other debts (credit cards, car loans, etc.)

The Board provides all employees with $25,000 in group term life insurance. Eligible employees may purchase additional life insurance in amounts equal to up to 5 times their annual salary not to exceed $500,000. No medical underwriting is required for a request of $150,000 or less. If more than $150,000 is requested, the Evidence of Insurability form linked below must be completed and submitted to the Standard for consideration using the following options:

  • Email the completed forms to MUSC@standard.com
  • Fax to (971) 321-5996
  • Mail to Standard Insurance Company, Medical Underwriting, 900 SW 5th Ave Portland, OR 97204

Employees may also purchase dependent term life insurance to cover their spouse and children subject to the same evidence of insurability requirements described above.

Please make sure that your beneficiary designation is up to date. Remember you can have one or more beneficiaries named for your Life Insurance policy. Please see the link below for a blank Beneficiary Form if you need to update or assign a beneficiary. Once the form is filled out you can return it to the Risk Management office, or you can simply login to the OCSD benefits administration system at www.mybensite.com/okaloosa to enroll in life insurance benefits. It is very important that you elect one or more beneficiaries to designate who will receive the proceeds from your life insurance policy.

ADDITIONAL SERVICES

As part of Group Basic Life Insurance from The Standard, employees are now eligible for two new services – Emergency Travel Assistance and The Life Services Toolkit. Employees enrolled in Group Basic Life Insurance will automatically have these services now, with no additional forms to fill out.

  • Emergency Travel Assistance - As an eligible participant in The Standard's life insurance, you and your immediate family are covered members for the Assist America services, including:
    • medical consultation, evaluation, and referral
    • hospital admission
    • critical care monitoring
    • prescription assistance
    • legal and interpreter referrals
    • emergency medical evacuation
  • Life Services Toolkit - Group Life insurance through your employer gives you assurance that your family will receive some financial assistance in the event of a death. But coverage under a group Life policy from Standard Insurance Company (The Standard) does more than help protect our family from financial hardship after a loss. We have partnered with Health Advocate to offer a lineup of additional services that can make a difference now and in the future. We offer services to help you now and services for your beneficiary.

LINKS

Active Member Frequently Asked Questions

What is Basic Life Insurance?

  • The District pays the premium for every employee to have $25,000 in term life insurance if they are under the age of 70 and $10,000 if they are 70 or older.

What is Voluntary Life Insurance?

  • Voluntary (Optional) Life is additional term life insurance paid for by the employee. The amounts are based on multiples of the employee's salary up to 5 times or $500,000, whichever is lower subject to underwriting (Evidence of Insurability).

How much Voluntary Life am I approved for without completing underwriting?

  • This year as a special offer, the Standard is allowing coverage up to $150,000 or 5 times your salary, whichever is lower.

How do I elect more Voluntary Life?

  • Go online to www.mybensite.com/okaloosa. You must download, complete, and mail in an Evidence of Insurability form on the Voluntary Life page if you are electing more than $150,000.

How much will I pay for Voluntary Life?

  • Rates are calculated by salary and age. See page 28 of your Benefit book for rates by age per thousand in coverage.

What happens when I turn 70?

  • Board-paid Basic Life coverage is reduced to $10,000 with an option to buy an additional $10,000 of Voluntary Life at a rate of $37.80 per month for active employees and $46.80 per month for retirees.

Can I keep my life insurance after I retire?

  • You may continue your Basic and Voluntary Life Insurance. The Basic Life rate for $25,000 in coverage is $18.75. If you are over 70 when you retire, the rate for $10,000 in Basic Life is $10.21. Voluntary Life rates increase a great deal from what employees pay when they are active because they are moving to a higher risk group.