About the Plan
UNM offers Group Term Life and Additional Life Insurance to benefits-eligible retirees through The Hartford. In order to retire with life insurance benefits from UNM, an employee must be enrolled in the life insurance benefit for one year immediately prior to retirement, and elect retiree life insurance coverage prior to their retirement date during the retirement application process.
Basic Coverage: Basic life insurance benefit is 100% of pre-retirement salary, adjusted to the next higher multiple of $1,000, with a minimum of $25,000 and a maximum of $150,000. The retiree contribution rate is 70% of the full premium. UNM will contribute 30% towards the full monthly premium.
Supplemental Coverage: Supplemental life insurance is additional coverage, or “tiers” of coverage beyond the basic coverage up to a maximum of 3 tiers. Each tier is the equivalent of one year’s salary, and upon retirement, is based on your pre-retirement earnings, adjusted to the next higher multiple of $1,000. The maximum coverage under both Basic and Supplemental coverage is $1,850,000. Supplemental Life Insurance is paid 100% by the retiree.
Change your Coverage with The Hartford
Review Coverage: Contact HR Benefits at 505.277.6947
Change Beneficiary: Contact HR Benefits at 505.277.6947 to request a Hartford Beneficiary Change Form.
Cancel Coverage: Please know that if you cancel coverage, you may never re-enroll. To cancel your life insurance coverage, complete the Pre-65 Decrease Coverage or Cancellation Form and fax it to Benefits at 505.277.2278 or deliver it to the HR Service Center at 1700 Lomas Blvd. NE, Suite 1400 of the John and June Perovich Business Center.