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, 2023 – The Ohio Public Employees Retirement System has announced that the Colonial Life & Accident Insurance Co. will offer term life and whole life policies to OPERS members for the sixth consecutive year in 2023.

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.

This year’s open enrollment period will be June 1-Sept. 22.

OPERS members can enroll in a policy only through a session with a licensed benefits counselor – either through a virtual meeting or over the phone. 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.

Three Colonial Life digital postcards scheduled to be emailed to OPERS members in 2023 contain more information about virtual enrollment. The policies will be guaranteed issue, within certain limits, during this year’s open-enrollment period.

For more information, refer to the first of three planned digital postcards. You also can listen to a recorded webinar that provides additional details on the 2023 open enrollment period and the voluntary benefits that are available.

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.