While the CDSP provides death benefits to workers and enrolled dependents, you may still have the need for additional insurance. Concordia Plan Services offers supplemental group life insurance through Minnesota Life, the administrator of the CDSP death benefits. Active workers can obtain additional insurance for low premium rates for themselves and their dependents.

Supplemental Life Cost

Supplemental Life rates are based on the covered individual's age at the time of enrollment and are charged per $1,000 of coverage. Rates are subject to change.

Enrollment

Purchasing Supplemental Life

Generally, current assets less income replacement need and additional expenses equal the amount of coverage needed. For income replacement needs, calculate total annual expenses, and estimate the number of years the family will need the replacement income. Calculate any additional expenses such as funeral and child education, and add that with the income replacement need. For current assets, add any personal savings, life insurance or other assets in place with expected Social Security benefits. Subtract the current assets from the total of income replacement and additional expenses to calculate the additional life insurance need.