Do you know who you have listed as your beneficiary? As a benefits-eligible employee, you automatically receive State of Illinois' basic term life insurance in an amount equal to your annual salary. Please note that up to $50,000 of life insurance is tax exempt, and amounts in excess of $50,000 are taxed as imputed income.
Today is a good time to review/update your beneficiary designation.
Why is a beneficiary important?
Your beneficiary designation is your statement of who you want to receive your life insurance benefits. Without a beneficiary designation, in the event of your death, benefits can be delayed and may exclude those you wished to receive benefits. Having a beneficiary designation on file will ensure that your insurance benefits will be distributed more quickly, and to the individuals you specified.
Plan Information and Questions
See additional information on the State Group Life Insurance on NESSIE or contact UPB with any questions.
- Email: benefits@uillinois.edu
- Urbana: 217-333-3111
- Chicago: 312-996-6471
- Springfield: 217-206-7144 or 217-206-7211
