Idaho State University Persi Retirement Life Insurance: What You Need to Know

What Is the Persi Retirement Life Insurance Program?

Idaho State University's Persi retirement plan is a group life insurance benefit available to eligible retirees. It provides financial protection for the retiree's family by paying a death benefit when the retiree passes away. The program is administered by the university's Human Resources and Benefits office, and it is funded through a combination of employer contributions and retiree premiums.

Who Qualifies?

To be eligible for Persi retirement life insurance, a retiree must meet the following criteria:

• Be a full‑time, active employee of Idaho State University at the time of retirement.
• Retire under the Persi (Public Employees Retirement System) plan, typically after 20 years of service.
• Enroll within the first 30 days after retirement.
• Be in good standing with the university's retirement benefits office.

Coverage Details and Premiums

The program offers two coverage options:

• Basic coverage: $25,000 death benefit, $50 per month premium.
• Enhanced coverage: $100,000 death benefit, $200 per month premium.

Premiums are automatically deducted from the retiree's pension check. If a retiree chooses to decline coverage, the pension is adjusted accordingly.

Benefits for Retirees and Families

Key advantages include:

• Guaranteed coverage regardless of health status.
• No medical exam required.
• Flexible beneficiary designations.
• Coverage continues for the life of the retiree.

Enrollment Process

Enrollment is straightforward:

• Complete the enrollment form available through the HR portal.
• Submit the form to the Retirement Benefits Office within 30 days of retirement.
• Receive confirmation and start receiving monthly premium deductions.

Common Questions Answered

What happens if I change my beneficiary?

You can update your beneficiary information at any time by submitting a new form to the Retirement Benefits Office.

Can I cancel coverage after enrolling?

Coverage can be canceled within 30 days of enrollment without penalty. After that period, cancellation may result in a refund of unused premiums.

Is the death benefit taxable?

Generally, the death benefit paid to beneficiaries is not taxable under federal law, but beneficiaries should consult a tax professional for specific guidance.

What if I retire but later rejoin the university?

Rejoining employees must reapply for Persi retirement benefits and may need to re‑enroll in the life insurance program.

Comparison with Other Life Insurance Options

Why Persi Retirement Life Insurance Matters for Idaho State Employees

For many retirees, life insurance is a critical safety net that ensures loved ones are financially protected after their passing. The Persi program offers a low‑cost, employer‑supported option that eliminates the need for private underwriting, making it an attractive choice for those who have dedicated decades to the university.