Open Enrollment occurs: May 8-24, 2019
Eligible retirees have an opportunity to enroll in, cancel, or make changes to a variety of health insurance plans.
Details on the specific plan changes and options are found on the Open Enrollment page.
About the Plan
UNM offers Group Term Life, Additional Life, Spouse Life and Child 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 Standard
Review Coverage: Log into The Standard Ready Enroll system or call 844.573.0229.
Change Beneficiary: Log into The Standard Ready Enroll system or call 844.573.0229 to request a Beneficiary Change Form.
Cancel Coverage: Please know that if you cancel coverage, you may never re-enroll. Methods for cancellation include: