Life insurance available to members

Colonial Life to offer policies, with enrollment starting in June

By Michael Pramik, Ohio Public Employees Retirement System

May 30, 2019 — The Ohio Public Employees Retirement System has announced that the Colonial Life & Accident Insurance Co. will again offer term life and whole life policies to OPERS members during an open enrollment period this year. It’s an effort to help members plan for their future and provide financial stability for their family when they pass away.

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 email in the next couple of weeks for information from Colonial Life that explains coverage details. Enrollment will be conducted directly with Colonial Life.

The policies are currently being offered with guaranteed issue during this year’s enrollment period. Guaranteed issue is available only up to certain limits, and eligibility questions still apply.

The open enrollment period will be June 3 through Aug. 30. Our members can enroll over the phone with Colonial Life, 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

16 thoughts on “Life insurance available to members

  • May 30, 2019 at 11:43 am
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    Is there some reason that the rates aren’t published? Why do I have to meet or talk with a representative?

    Reply
    • May 30, 2019 at 2:07 pm
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      Rates are based on a variety of factors, so your premium may be different from someone else’s. For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.

      Julie, OPERS

      Reply
  • May 30, 2019 at 3:27 pm
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    Can‘t open and read PDF documents on my phone and can‘t always get to library. Can format be changed?

    Reply
    • May 30, 2019 at 3:44 pm
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      Susann, please call Colonial Life at 844-341-8803 for assistance in accessing those documents.

      Julie, OPERS

      Reply
    • May 31, 2019 at 9:11 am
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      Debra, please call Colonial Life at 844-341-8803 for more information about to purchasing insurance.

      Julie

      Reply
  • May 31, 2019 at 1:06 pm
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    Does the term “active” mean this is only available to working members and not retired members? Thanks..

    Reply
    • May 31, 2019 at 2:06 pm
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      Yes, Tim, the insurance is being offered to actively working OPERS members. Sorry for the confusion.

      Julie

      Reply
  • June 4, 2019 at 12:01 pm
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    Is this insurance available to retired members who are currently rehired in OPERS position and paying into OPERS ?

    Reply
    • June 7, 2019 at 3:34 pm
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      Re-employed retirees can obtain insurance through Colonial, but you may find it is cost prohibitive. Generally the older you are, the higher the rate. But call Colonial to find out for yourself. Their number is 844-341-8803.

      Julie, OPERS

      Reply
  • June 7, 2019 at 8:05 am
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    If purchased while active member, will coverage be cancelled at retirement or will Colonial Penn offer to continue coverage at different rate/term?

    Reply
    • June 12, 2019 at 12:05 pm
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      Please call Colonial Life at 844-341-8803 for more information.

      Reply
  • June 10, 2019 at 4:55 pm
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    Why is it only available to active members?

    Reply
    • June 12, 2019 at 11:33 am
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      Retirees can obtain insurance through Colonial but you may find it is cost prohibitive. Generally the older you are, the higher the rate. Please call Colonial at 844-341-8803 for more information.

      Julie

      Reply

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