Coverage for Yourself
State retirees who retire directly from State service may:
- Continue life insurance at the same coverage level, subject to the age-related reduction schedule;
- Reduce life insurance coverage to a minimum of $10,000, also subject to the age-related reduction;
- Cancel life insurance coverage; or
- Convert to an individual policy.
You cannot increase your life insurance coverage or add new dependents to your life insurance coverage when you retire or at any time after retirement. If you reduce or cancel life insurance coverage, you will not be permitted to increase coverage or re-enroll in the State Life Insurance plan. There cannot be a break in life insurance coverage between active employment and retirement.
Coverage for Your Dependents
As a retiree, you may choose to continue, reduce, or cancel your dependent life insurance coverage for any dependents that were covered under the life insurance plan while you were an active employee.
Your dependent’s life insurance can never be more than half of your life insurance coverage amount. Spouse or children who had life insurance as the dependent of a deceased retiree can only continue life insurance coverage through a conversion policy.
Automatic Reduction of Benefits for You and Your Dependents
As a retiree, life insurance benefits for you and your dependents will reduce automatically based on your age, according to the reduction schedule below. Premium changes due to an automatic reduction of benefits for you and your dependents will begin the first of your birthday month.