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 Benefits Guide
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Group Universal Life Insurance Coverage
 
Group Universal Life Insurance Coverage is an insured policy through Minnesota Life.

 
Employee Coverage
  • You have the opportunity to elect GUL coverage in multiples of one to ten times your Total Compensation*, to a maximum of $1,500,000.
  • GUL coverage of one times your Total Compensation up to a maximum of $500,000 is guaranteed — no health questions or medical exam required — as long as you elect coverage within 45 days of your hire date or within 31 days after your date of marriage.
* Total Compensation is equal to your current base salary plus all prior year variable pay. As a new hire your Total Compensation is your current base salary.
 
Coverage for Your Spouse
Your spouse is eligible to elect GUL coverage in increments of $25,000 up to $250,000.
Spouse GUL coverage of up to $50,000 is guaranteed — no health questions or medical exam — as long as you elect coverage within 45 days of your hire date or within 31 days after marriage.
 
Cash Value Account
In addition to life insurance protection, GUL gives you the option to set aside money in the cash value account. With GUL, the money earns a fixed rate of interest and grows tax-deferred — you don’t pay taxes on any earnings unless you withdraw more than you’ve contributed.
 
Group Universal Life Insurance Rates

Age

Monthly Cost

Age

Monthly Cost

Under 25

$0.038 Per $1,000

50-54

$0.165 Per $1,000

25-29

$0.038 Per $1,000

55-59

$0.270 Per $1,000

30-34

$0.045 Per $1,000

60-64

$0.420 Per $1,000

35-39

$0.050 Per $1,000

65-59

$0.683 Per $1,000

40-44

$0.075 Per $1,000

70-74

$1.665 Per $1,000

45-49

$0.105 Per $1,000

75 over

$2.530 Per $1,000
 
GUL Online Enrollment is Easy
Log on to www.LifeBenefits.com using your User ID and initial password:
  • Your User ID and initial password
    • User ID: FC plus your six digit Ceridian Clock Number (e.g., FC123456) (Note: Your Ceridian Clock Number is provided to you by your Farm Credit HR Representative).
    • Initial Password: Your date of birth plus the last four digits of your Social Security number (e.g., MMDDYYYY####).
  • Social security number for you and your spouse
  • If you are enrolling for coverage over your guaranteed issue amount, you will need:
    • Name and address of physicians, hospitals and clinics visited in the past three years.
    • Reason for visits, diagnosis, etc.
    • Full name and Social Security number of any beneficiary you wish to designate.

Follow the instructions on the website to enroll for Group Universal Life insurance for yourself and/or your spouse and designate your beneficiaries. Online Enrollment Questions: Contact Minnesota Life at 1-800-843-8358.
 
 
 
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