Life insurance available to members
Colonial Life to offer policies, with enrollment starting in June
By Michael Pramik, Ohio Public Employees Retirement System
May 11, 2020 — The Ohio Public Employees Retirement System has announced that Colonial Life will again offer term life and whole life policies to OPERS members during an open enrollment period this year.
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 email in the next couple of weeks for information from Colonial Life with links to videos explaining the coverage options and details on how to connect with a benefit counselor to discuss coverage options and enroll.
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 1 through Sept. 30.
Our members can enroll in a policy by speaking with a local Colonial Life benefits counselor using a virtual enrollment option or over the phone with a representative at Colonial Life’s home office. The virtual enrollment option allows members the flexibility of connecting with their benefit counselor via conference call, video chat or screen-share, with one click of a link. Colonial Life benefits counselors will be available once the open enrollment period begins on June 1.
For more information, visit http://www.visityouville.com/en/opers.
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 available to retired members?
Is this for retirees also????
Vicky,
As a retiree, you may still call Colonial about obtaining life insurance through them, but it will not be guaranteed issue and 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, OPERS
thank you
does this include disabled retiree’s also? that would certainly be welcomed.
Is this for current contributing members only (i.e. not retired members drawing a pension)?
Vicki,
Retirees are not included in this guaranteed issue offering. As a retiree, you may still call Colonial about obtaining life insurance through them, but it will not be guaranteed issue and 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, OPERS
Interested
If you are interested in obtaining a policy, contact Colonial at 1-844-341-8803 during the open enrollment period on June 1 through Sept. 30.
Julie, OPERS
Can you keep your policy after you retire if you take it out prior to retirement?
For more information, contact Colonial at 1-844-341-8803 during the open enrollment period which begins on Monday, June 1 and runs through Sept. 30.
Julie, OPERS
Requesting more information about the life insurance policy.
Please call Colonial at 844-341-8803 for more information.
Julie, OPERS
CAN I GET COVERAGE FOR A SPOUSE, BUT NOT FOR MYSELF
Katty,
A representative from Colonial should be able to answer all of your questions. Please call them at 844-341-8803 for more information.
Julie, OPERS
How do I go about getting a quote?
Michelle,
Please call Colonial at 844-341-8803 for more information. Open enrollment continues through Sept. 30.
Julie, OPERS
Like to get information about this
Phyllis,
Please call Colonial at 844-341-8803 for more information.
Julie, OPERS
For older Persons like myself I have a enough Life Insurance to take care of my Wife