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Optional Retiree Life Insurance

Summary Information Only

 
This Web page presents summary information only. Any error or omission here is unintentional and will be resolved in favor of plan documents or applicable federal or state law or rule.


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Plan Description and Rates

 
You may enroll in continuation coverage within 60 days after your retirement date. You may enroll in conversion coverage within 60 days of the date your coverage ends. Generally, you may enroll for up to 50 percent of the amount of life insurance coverage you had on the day before your retirement date. NOTE: Special conditions apply to Standard Life insurance coverage if you converted or ported coverage you had as an employee. Contact Standard and your payroll office to ensure your life insurance information is correct.
 
The benefit amount will decrease by percentages as you age, beginning at age 65, with coverage decreasing by 35% at age 65, by 50% at age 75 and by 65% at age 75.
 
If you are retiring and your spouse or domestic partner is also a state employee, you can roll over your current optional life insurance coverage premium to the other employee's payroll deduction. Click here to download the Transfer Premium Payment form.
 
To enroll in conversion or continuation coverage, you must complete the Retiree Life Insurance Application and submit it directly to The Standard. Call The Standard for more information at: 1-800-242-1888.
Retiree Life Insurance Monthly Premium Rates
Age >
Under 50
50 – 54
55 – 59
60 – 64
65 – 69
70 – 74
75 - 79
80-84
85+
AMOUNT
 
 
 
$10,000
$2.70
$4.05
$4.95
$6.75
$13.50
$22.50
$33.75
 $51.30
$73.80
20,000
5.4
8.1
9.9
13.5
27
45
67.5
102.6
147.6
30,000
8.1
12.15
14.85
20.25
40.5
67.5
101.25
153.9
221.4
40,000
10.8
16.2
19.8
27
54
90
135
205.2
295.2
50,000
13.5
20.25
24.75
33.75
67.5
112.5
168.75
256.5
369
60,000
16.2
24.3
29.7
40.5
81
135
202.5
 
442.8
70,000
18.9
28.35
34.65
47.25
94.5
157.5
236.25
359.1
516.6
80,000
21.6
32.4
39.6
54
108
180
270
410.4
590.4
90,000
24.3
36.45
44.55
60.75
121.5
202.5
303.75
461.7
664.2
100,000
27
40.5
49.5
67.5
135
225
337.5
513
738
110,000
29.7
44.55
54.45
74.25
148.5
247.5
371.25
564.3
811.8
120,000
32.4
48.6
59.4
81
162
270
405
615.6
885.6
130,000
35.1
52.65
64.35
87.75
175.5
292.5
438.75
666.9
959.4
140,000
37.8
56.7
69.3
94.5
189
315
472.5
718.2
1033.2
150,000
40.5
60.75
74.25
101.25
202.5
337.5
506.25
769.5
1107
160,000
43.2
64.8
79.2
108
216
360
540
820.8
1180.8
170,000
45.9
68.85
84.15
114.75
229.5
382.5
573.75
872.1
1254.6
180,000
48.6
72.9
89.1
121.5
243
405
607.5
923.4
1328.4
190,000
51.3
76.95
94.05
128.25
256.5
427.5
641.25
974.7
1402.2

 

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