If you participate in the Long Term Care Insurance plan, you may elect converted coverage. This means that the same coverage you had while you were employed can be continued on a direct pay basis. You must request converted coverage within 31 days of the date your group coverage ends and pay premiums directly to UNUM. An Election for Conversion Coverage form will be sent to you by the Human Resource Office upon retirement.
Retiree Life Insurance Option
If your life insurance ends due to retirement, you may have the option to purchase the Retiree Life Option without submitting evidence of insurability. You must apply for this option within 60 days of the date your active insurance ends. The benefit amount is 50% of the amount of your active employee Optional Life Coverage. The benefit amount reduces to 65% of the retiree amount when you are age 65; to 50% of the retiree amount when you are age 70; and to 35% of the retiree amount when you are age 75.
For additional information, call the Human Resource Office at 541.885.1120.