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

33 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 5, 2018 at 1:31 pm
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    Please call Colonial Life at 1-844-341-8803 for more information on what may be available for those over 60.

    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
  • June 26, 2018 at 12:40 pm
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    Can you keep it after retirement or does it expire upon retirement?

    Reply
    • June 29, 2018 at 3:04 pm
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      Jim,

      For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.

      –Ohio PERS

      Reply
  • June 26, 2018 at 2:59 pm
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    I’m retiring in october, could I still purchase for me and my husband.

    Reply
    • June 29, 2018 at 3:04 pm
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      Michelle,

      For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.

      –Ohio PERS

      Reply
  • June 26, 2018 at 3:24 pm
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    I already have term life thru Colonial Life, Can I get whole life at my age of 62?

    Reply
    • June 29, 2018 at 3:03 pm
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      Debbe,

      For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.

      –Ohio PERS

      Reply
  • June 27, 2018 at 7:24 am
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    If I purchase a policy and then retire in a couple of years will the policy terminate at the time of my retirement or can I continue to pay the premiums and get the coverage?

    Reply
    • June 29, 2018 at 3:02 pm
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      Debra,

      For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.

      –Ohio PERS

      Reply
  • June 27, 2018 at 8:36 am
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    Once enrolled as an active member, will this insurance be able to continue when you retire?

    Reply
    • June 29, 2018 at 3:01 pm
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      Anne,

      For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.

      –Ohio PERS

      Reply
  • June 27, 2018 at 8:56 am
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    I see that it has been listed that this coverage is for active members, however where do the policy stand after retirement?

    Reply
    • June 29, 2018 at 3:00 pm
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      Terrie,

      For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.

      –Ohio PERS

      Reply
  • July 2, 2018 at 1:04 pm
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    For questions about this life insurance coverage, contact Colonial Life at 844-341-8803
    Seems like you don’t have any answers to these questions, Why are you involved in Life insurance if you aren’t going to get involved

    Reply
    • July 5, 2018 at 4:40 pm
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      We are providing the opportunity to purchase insurance; however, we’re not selling insurance because OPERS is not in the insurance business. Therefore, we refer all questions to Colonial Life.

      Reply
  • July 18, 2018 at 2:19 pm
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    I did not receive an introductory letter in the mail. How can I get more information?

    Reply
    • July 18, 2018 at 4:34 pm
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      Colonial Life can provide more information. Please call them at 1-844-341-8803 — they can assist you Monday, Wednesday and Thursday, 9 a.m.-noon and 4 p.m.-7 p.m. EST.

      Julie, OPERS

      Reply
  • July 24, 2018 at 8:57 pm
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    send me alerts about these subjects
    thanks.

    Reply
    • July 26, 2018 at 9:24 am
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      I’m glad you like it. You can subscribe to the blog and receive an email notification each time we post a new one. Go to the blog front page at https://perspective.opers.org/. Look for the blue box on the right-hand side about the middle of the page. Enter your email address and hit the ‘Subscribe’ button.

      Julie, OPERS

      Reply
  • August 21, 2018 at 9:00 pm
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    So it is NOT available to retirees??

    Reply
    • August 23, 2018 at 2:24 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 bear the cost.

      Reply
  • September 5, 2018 at 10:39 am
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    When will the next enrollment period be?

    Reply
    • September 12, 2018 at 4:41 pm
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      Colonial Life can provide more information. Please call them at 1-844-341-8803 — 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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