Group Life Insurance - Retired Employees

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Plan Information
Effective September 1, 2016

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
$100,000
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 $100,000.

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.

RETIRED EMPLOYEE RATE CHART

 

Age of Subscriber

Rate per $1,000 Coverage

15 - 34

$0.037

35 - 39

$0.047

40 - 44

$0.063

45 - 49

$0.097

50 - 54

$0.150

55 - 59

$0.233

60 - 64

$0.364

65 - 69

$0.650

70 - 74

$0.752

75 - 79

$0.932

80 and over

$1.634

 


 

Resources

Contact

Dearborn National
CUSTOMER SERVICE 
(866) 628-2606  

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