ITEM NUMBER: 6.E.
School Board Regular Meeting
- Meeting Date:
- 08/13/2018
- Prepared By:
- Tom Sager
Item Type:
Action
Subject:
Act on 2018-2019 Employee Life Insurance Renewal
Background:
Mankato Area Public School’s employee life insurance was sent out for bids through a formal Request for Proposal process. The current rate is 11.4 cents per thousand per month. Madison National Life quoted a matching plan with a three year rate guarantee of 10.9 cents per thousand per month. Supplemental term life coverage remains at 20 cents per thousand per month. Both the base and supplemental include accidental death and dismemberment coverage.
Recommended Action:
The administration recommends acceptance of the Madison National Life insurance plan effective September 1, 2018.