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.
Is this for active members only or can retired members sign up for this life insurance?
The policies are available only to active members.
Is this Life Insurance for Retired OPERS members
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
If I already have a current policy with the employer I have will I be able to transfer it over?
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
Please call Colonial Life at 1-844-341-8803 for more information on what may be available for those over 60.
How will the employee pay for this? Direct to Colonial Life or payroll deduction?
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
In all the material related to the life insurance offer, no rates were given. Where does one find the rates for this program?
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.
Can you keep it after retirement or does it expire upon retirement?
Jim,
For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.
–Ohio PERS
I’m retiring in october, could I still purchase for me and my husband.
Michelle,
For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.
–Ohio PERS
I already have term life thru Colonial Life, Can I get whole life at my age of 62?
Debbe,
For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.
–Ohio PERS
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?
Debra,
For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.
–Ohio PERS
Once enrolled as an active member, will this insurance be able to continue when you retire?
Anne,
For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.
–Ohio PERS
I see that it has been listed that this coverage is for active members, however where do the policy stand after retirement?
Terrie,
For questions about this life insurance coverage, contact Colonial Life at 844-341-8803.
–Ohio PERS
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
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.
I did not receive an introductory letter in the mail. How can I get more information?
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
send me alerts about these subjects
thanks.
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
So it is NOT available to retirees??
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.
When will the next enrollment period be?
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.
I’AM AN ACTIVE MEMBER WITH OPERS & WE ARE LOOKING TO ADD ADDITIONAL INSURANCE , BUT HAVE NOT BEEN ABLE TO REACH ANYONE WITH THE NUMBERS GIVEN, NOR GET A RESPONSE TO MESSAGES LEFT.
Colonial Life offered term life and whole life policies to OPERS active members during an open enrollment period in the summer of 2018. During that time there was a dedicated number for OPERS active members to call and enroll, but that enrollment period has ended. The next open enrollment opportunity will be this summer.
Hi,
I am on opers disability. Do I qualify? I am 58.
Please call Colonial at 844-341-8803 for more information.
I would like to apply for life insurance. my email is rreid117@gmail.com
I am a state employee with Department of Administrative Services
Please contact OPERS through the online message center that is available through your OPERS online account or contact us by phone at 800-222-7377.