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PERA Life Insurance Program
PERA offers
an optional group decreasing-term life insurance plan administered by
Unum called Plan 1. Coverage with Plan 1 is based on age and allows
the member to purchase units of coverage to meet their life insurance needs.
In addition, the plan provides Accidental Death and Dismemberment (AD&D)
benefits, life insurance coverage for spouses and eligible children, and an
accelerated benefit option. Unum provides free survivor financial
counseling to members, inactive members, and their survivors.
On January 1, 2010, the Denver Public Schools Retirement System (DPSRS) merged with Colorado PERA and as of January 1, 2010, DPSRS ceased to exist. As of January 1, 2010, DPSRS accounts are now PERA member contribution accounts under the DPS benefit structure and DPSRS members are eligible for the PERA life insurance program.
See the
Life Insurance Program Highlights for more information on
Plan 1.
Closed Plans
PERA's life insurance program also includes a number of "closed
plans." New members cannot enroll in these closed plans, but
these plans continue if you are already enrolled. Unum
administers closed plans for which you are paying monthly
premiums. PERA administers closed plans for which no premiums
are being paid: New York Life paid-up or
waiver plans, and Anthem Life and Prudential waiver plans. For
more information, contact PERA's Customer Service Center at
303-832-9550 or 1-800-759-7372.
Enrollment
As a PERA member,
you may enroll within 90 days of beginning PERA membership or during open enrollment
each year (April 1 through May 31), without
Evidence of Insurability (EOI).
If you apply for
life insurance and you are not within 90 days of beginning PERA membership
or it is outside of open enrollment, Unum will send you
an EOI form to complete. Once Unum reviews your EOI
form, they will notify you if you are enrolled.
After you
retire, you are not eligible to enroll in life insurance. If you
would like coverage in retirement, you should enroll during open
enrollment (April 1 through May 31) the year prior to
retirement.
You may
enroll online by clicking on the "Account Access" icon and
entering your PERA Personal Identification Number (PIN). From
your account page, choose the "Inquiry" dropdown menu and select
"Life Insurance." You will see the link to the Unum Web
site.
Premium Payment
As an active member, your premium will automatically be deducted from your
paycheck by your employer.
If you are an
inactive member, you will pay Unum by check or through automatic deductions from your
bank account. Contact Unum to set up premium payments at 1-866-277-1649.
In retirement, your premium(s) will automatically be deducted from your monthly
retirement benefit.
Beneficiary Election
You elect your beneficiary(ies) when you enroll in the program. Once
enrolled, if you need to change beneficiaries, click on the "Account Access" icon and enter your PERA PIN.
From your account page, choose the "Inquiry" dropdown menu and select "Life
Insurance." You will see the link to the Unum Web site. You may
also request that a beneficiary form be mailed to you by calling Unum at
1-866-277-1649.
To change
your beneficiary(ies) for plans administered by PERA, you may
print a PDF of the Life Insurance Beneficiary Change Form
from this Web site under Tools/Forms/Pubs or you may request one be mailed to you by
calling PERA at 303-832-9550 or 1-800-759-7372.
Canceling Coverage
You may cancel Unum coverage by clicking on the "Account Access"
icon and entering your PERA Personal Identification Number (PIN). From your
account page, choose the "Inquiry" dropdown menu and select "Life
Insurance." You will see the link to the Unum Web site. You may
also cancel your life insurance by sending a written request to cancel to
the following address:
Unum
NA Administrative Services–B136
2211 Congress Street
Portland, ME 04102-9997
Filing a Claim
To file a life insurance claim for a policy administered by Unum, contact Unum at 1-866-277-1649. To file a claim for a policy
administered by PERA, contact PERA's Customer Service Center at 303-832-9550 or 1-800-759-7372.
Termination of Employment
If you terminate employment, you may continue your life insurance coverage as long as you do not refund your account and you continue to make premium payments
to Unum by check or through automatic deductions from your
bank account. If you leave employment, contact Unum to set up
premium payments at 1-866-277-1649.
Continuation of Insurance if You Refund Your Account
If you refund your account and want to continue your
life insurance coverage, contact Unum directly at
1-866-277-1649 for information on portability or conversion
options.
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