Group Life Insurance - Retired Employees

Group Life Insurance - Retired Employees
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Plan Changes
Effective September 1, 2015
There are no changes to the life insurance benefits or rates for the 2015-2016 plan year. 

You may add or increase coverage during annual enrollment with Evidence of Insurability. Rates are not changing, but if you have crossed into a new age band, your rate will increase.

RETIREE RATE CHART

Age

 of Subscriber on 9/01/11

Rate per $1,000 Coverage

< 35

$0.038

35 - 39

$0.048

40 - 44

$0.065

45 - 49

$0.100

50 - 54

$0.155

55 - 59

$0.240

60 - 64

$0.375

65 - 69

$0.670

70 and over

$0.752

Information below and resources below and to the right are effective through August 31, 2015; however, since benefits aren't changing updated materials available after September 1 will be minimal and only for purposes of additional clarification.

> Return to the Annual Enrollment page

 


 

document  RESOURCES

Dearborn National Website


mail  CONTACT

Dearborn National CUSTOMER SERVICE
(866) 628-2606 

Claims Address: 
1020 31st Street 
Downers Grove, IL 60515-5591

Current Plan Information
Effective through August 31, 2015

Group term life (GTL) insurance can help ensure financial security for your family and loved ones upon your death. UT System, through the vendor Dearborn National, provides eligible retired employees with basic GTL as part of the basic coverage package. Eligible retired employees also have the opportunity to purchase additional coverage at group rates.

Basic Group Term Life (GTL) Benefits

Basic group term life insurance in the amount of $6,000 is a part of the basic coverage package.

Voluntary Group Term Life Options

Coverage Level Benefit Amount
Retired Employee Voluntary GTL $7,000 
$10,000 
$25,000 
$50,000
Dependent Spouse Voluntary GTL* $3,000

*Retired employee must be enrolled in retired employee voluntary GTL benefits in order to elect benefits for a spouse.

When you first move from active employment to a retired employee without a break in service, you are guaranteed coverage up to the amount of voluntary GTL coverage you had in force as an active employee not to exceed a maximum of $50,000.

After your initial eligibility period to elect voluntary GTL coverage as a retired employee, evidence of 
insurability is required for any increase in voluntary GTL benefits during annual enrollment.

Evidence of insurability is required on all spouses of retired employees who elect to enroll for voluntary GTL insurance. However, this requirement will be waived if your spouse was enrolled for voluntary GTL insurance on the last day you were an active employee and there is no break in coverage.

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