Life Insurance

Securian Financial

Life and Accidental Death and Dismemberment (AD&D) insurance, through Securian Financial/Minnesota Life Insurance Company, provide financial security to you and your family if you pass away or become seriously injured.

Plan Documents

Basic Life and AD&D Insurance

As an eligible employee, you receive Basic Life and AD&D insurance equal to your annual earnings subject to a minimum benefit of $50,000 and a maximum of $250,000. Basic Life and AD&D are provided by the State of Colorado at no cost to you.

Optional Life and AD&D Insurance

In addition to Basic Life and AD&D, you may buy Optional Life and AD&D coverage at discounted rates.

Current Optional Life participants (minimum of $10,000 of coverage) may increase their Optional Life coverage amount by up to $50,000 without having to complete the underwriting process (not to exceed the guaranteed issue maximum of $150,000).

Employees must satisfactorily complete Evidence of Insurability for coverage amounts greater than $150,000. The $50,000 per year guaranteed increase is available for employee coverage only.

How much insurance should I buy?

When deciding how much Optional Life and AD&D coverage to buy, consider the following:

  1. How much will your dependents need to pay debts, such as a mortgage, car loan, or credit card balances?
  2. How much will your dependents need to maintain their current standard of living?
  3. What kind of future do you want to provide for your dependents or others who depend on you for financial support?

Plan Costs (FY 2023-24)

Lifestyle Benefits

  • Legal, financial, and grief services
  • Travel assistance services
  • Legacy planning services
  • Beneficiary financial coaching services

Learn more about these services.

Enrollment & EOI

Enrollment and Evidence of Insurability (EOI) is completed at benefitsolver.com. This is required when you or your spouse apply for new coverage or increase coverage outside your new hire enrollment and during open enrollment.

Imputed Income

According to Internal Revenue Code (IRC) Section 79, group term Life insurance coverage in excess of $50,000 may be subject to federal taxes based on a rate table provided by the IRC. The amount of Life insurance in excess of $50,000 is multiplied by a premium rate based on age as of the end of the calendar year, which results in a monthly amount of imputed income.

Choosing a Beneficiary

You can choose any person, trust, or nonprofit as the beneficiary (recipient) of your Life/AD&D policy in the event of your death. Review your beneficiary selection periodically to ensure it reflects your current wishes. Change your beneficiary anytime at benefitsolver.com.

Spouse/Civil Union Partner

There are separate premiums for employees and spouses/civil union partners. For optional child Life insurance, eligible children may be covered up to age 26 (coverage terminates when the child turns 26 unless the child is totally disabled).

Spouses/civil union partners and eligible children added to Optional Life insurance during open enrollment must be verified by providing the appropriate documentation to your agency benefit administrator.

PLEASE NOTE: If your spouse/civil union partner or child is also a State employee, they may be covered for their own Optional Life as an employee or as a spouse/domestic partner/civil union partner or child under your plan, but not both. Double Optional Life coverage is not allowed.



State of Colorado's Securian Financial/Minnesota Life Insurance Company Group ID: 33780-G

  • Securian Financial: Visit lifebenefits.com or call 877-828-7728 to learn more
    Securian Financial contracts with Telelanguage to provide support in 150 languages. Deaf and hard-of-hearing callers can use their teletypewriter device (TTY) or dial 711 to connect with a Telecommunications Relay Service (TRS) operator.
  • PERA: Visit copera.org or call 800-759-7372
  • State of Colorado Benefits: Contact your agency's benefits administrator

The information on this page is an overview and is not intended to be a complete description of the benefits. A more detailed summary plan description for the plans can be found linked on this page. If there is a conflict between the information on this page and the official plan documents, the plan documents will govern. The State of Colorado reserves the right to modify or terminate any of the described benefits at any time and for any reason. The descriptions of these benefits are not a guarantee of current or future employment or benefits. For additional information about the specific plans available to you, please contact your agency's Benefits Administrator.