Life insurance available to members

Colonial Life to offer policies, with enrollment starting in June

By Michael Pramik, Ohio Public Employees Retirement System

May 31, 2018 — The Ohio Public Employees Retirement System has announced that the Colonial Life & Accident Insurance Co. will begin offering term life and whole life policies to OPERS members.

Enrollment will be conducted directly with the Columbia, S.C., insurer. The policies will be available to active members, their spouses and children, and may be extended to grandchildren. The voluntary insurance would be in addition to life insurance that members’ employers might offer, and OPERS members would bear the cost.

Please watch your mail in the next couple of weeks for an introductory letter from Colonial Life that explains coverage details.

The policies will be guaranteed issue, within certain limits, during this year’s initial enrollment period. That means no health questions will be asked during the initial enrollment.

The open enrollment period will be June 1 through Aug. 31. Our members can enroll online or talk with a local Colonial Life benefits counselor over the phone, and they can initiate coverage before the end of the open enrollment period.

For more information, visit the OPERS page on the Colonial Life website.

Michael Pramik

Michael Pramik is communication strategist for the Ohio Public Employees Retirement System and editor of the PERSpective blog. As an experienced business journalist, he clarifies complex pension policies and helps members make smart choices to secure their retirement.

Michael Pramik

Communication Strategist

11 thoughts on “Life insurance available to members

    • June 1, 2018 at 4:35 pm
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      The policies are available only to active members.

      Reply
  • May 31, 2018 at 4:26 pm
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    Is this Life Insurance for Retired OPERS members

    Reply
    • June 1, 2018 at 4:34 pm
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      The policies are available to active members. The voluntary insurance is in addition to life insurance that members’ employers might offer, and OPERS members would bear the cost.

      Julie, OPERS

      Reply
  • May 31, 2018 at 5:33 pm
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    If I already have a current policy with the employer I have will I be able to transfer it over?

    Reply
    • June 1, 2018 at 4:34 pm
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      Please call Colonial Life at 1-844-341-8803 for more information. They can assist you Monday, Wednesday and Thursday, 9:00 a.m. – noon and 4:00 p.m. – 7:00 p.m. EST.

      Julie, OPERS

      Reply
  • June 18, 2018 at 10:34 am
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    How will the employee pay for this? Direct to Colonial Life or payroll deduction?

    Reply
    • June 18, 2018 at 2:35 pm
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      Please call Colonial Life at 1-844-341-8803 for more information. They can assist you Monday, Wednesday and Thursday, 9 a.m.-noon and 4 p.m.-7 p.m. EST.

      Julie, OPERS

      Reply
  • June 19, 2018 at 3:52 pm
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    In all the material related to the life insurance offer, no rates were given. Where does one find the rates for this program?

    Reply
    • June 21, 2018 at 11:31 am
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      Please call Colonial Life at 1-844-341-8803 for information. They can assist you Monday, Wednesday and Thursday, 9 a.m.-noon and 4 p.m.-7 p.m. EST.

      Reply

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