Virginia Tech pays the premium for all full-time and part-time, regular and restricted faculty employees and all full-time and part-time, regular and restricted classified and university staff employees. The program is administered through the Virginia Retirement System with Minnesota Life as the insurance carrier. The coverage is the current annual salary rounded up to the nearest thousand and doubled. In cases of accidental death, a double indemnity clause provides the beneficiary double the amount of insurance. No enrollment forms are required.
Optional supplemental life insurance is available through Minnesota Life for yourself and eligible family members. Employees are not required to provide evidence of insurability if they apply for optional life insurance within 31 days of the date they were hired. Evidence of insurability is required if an employee applies after the 31st day; wishes coverage over $300,000; or later wishes to increase coverage.