Retiree Life Insurance

Retiree Supplemental Life Benefits

Supplemental Life Insurance

Retirees can elect the lesser of 3 times your Annual Earnings on the day prior to your retirement or 100% of the amount of Additional Supplement Life Insurance in effect on the day prior to your retirement. Any amount higher than the Lesser of 3x Pay or the amount in effect immediately prior to retirement will be subjected to reduction. Basic life and Basic Ad&d are not eligible to continue into retirement. You may port these two plans by completing a portability application and mailing it on to The Standard. Applications can be found on Windstreambenefits.com under the tools and forms tab.

The Supplemental Rates are as follows:

Age at end of year Per $1,000 of coverage
 50-54 $0.60
55-59 $0.92
60-64 $1.36
65-69 $2.30
70 -74 $4.26
75-79 $6.79
80+ $7.49

Spouse Supplemental Life Insurance

Retirees must elect additional supplemental life in retirement to enroll in spouse life coverage.  Employee must elect spouse life Insurance in multiples of $1,000. The maximum amount is 50% of the amount of your additional supplemental life insurance. Any spouse life amount higher than the 50% supplemental life will be subjected to reduction Premiums are based on employee’s date of birth using the table above. Rates are based on the employee’s age, not the spouse’s age.

The Spouse Life Rates are as follows:

 

Age at end of year Per $1,000 of coverage
50-54 $0.60
55-59 $0.92
60-64 $1.36
65-69 $2.30
70 -74 $4.26
75-79 $6.79
80+ $7.49

Child Supplemental Life Insurance

Child Life Volume may be continued at the same amount the retiree had as an active employee (up to $25,000) or at a reduced amount in $5,000 increments. Premium is the same regardless of the number of children. The retiree must be enrolled in retiree supplemental life insurance to have child life insurance. Child supplemental life coverage will end at the time the child attains age 26.

The Child Life Rates are as follows:

Volume Monthly Rate
$5,000 $0.40
$10,000 $0.80
$15,000 $1.20
$20,000 $1.60
$25,000 $2.00

Supplemental Accidental Death and Dismemberment

Employees are offered the Supplemental Ad&d tier coverage(s) below if plan is carried as an active.

Volume Monthly Rate
Employee only $30,000 $0.45 per month
Employee plus spouse $30,000 plus an additional 15K for spouse $0.90 per month

Supplemental AD&D coverage ends:

  •  Retiree-only coverage ends on the 1st day of the month in which the retiree reaches age 70.
  • Spouse coverage ends on the 1st day of the month in which the spouse reaches age 70, or when the Retiree no longer has coverage.

Porting or Converting Life Insurance are also options. You can port your basic life, supplemental, and child life plans that you carried as an active employee. Please read Port and Conversion at a Glance under Helpful Tools

If you want to carry more than three times your salary that is allowed under the retiree benefit rules, you can choose to port your life insurance into an individual policy with our life insurance provider, Standard Life Insurance Company. Please reach out to Standard for individual rates and complete the portability or Conversion application posted under Helpful tools.