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When a retiree enrolls in medical coverage with ERS, they are automatically enrolled in Basic Term Life. This plan provides $2,500 of Basic Term Life and $2,500 of Accidental Death and Dismemberment insurance. The policy is payable to the retiree's named beneficiary upon the retirees death. The AD&D benefit is payable to the named beneficiary if the retiree sustains an accidental injury that results in death.
In addition, a retiree may choose to elect additional Optional Term Life up to a $10,000 maximum if they were enrolled as an active employee in Election I Group Term Life insurance. Persons retiring on or after September 30, 1997, will have the option of maintaining the amount of Optional Term Life in force on the date of retirement, not to exceed two times the most recent September 1 annual salary to their retirement date. The retiree is responsible for premium payment. The Optional Term Life is also payable to the retiree's named beneficiary.
A named beneficiary is anyone the retiree wishes to be the beneficiary of their life insurance. A signed, dated and witnessed Retiree Life Insurance Beneficiary Designation form must be on file with ERS. If the retiree has not named a beneficiary, then the life insurance will be issued to the immediate family member or executioner of the estate or as written under the laws of the state.
Reporting the Death (Beneficiary or Human Resources Office)
Handling the Death Claim
ERS or Group Life and Health will handle all correspondence related to the beneficiary's claim. A certified copy of the Death Certificate as officially filed must be submitted with the claim form. If claim is approved, Group Life and Health pays the death benefit to the designated beneficiary. If the claim is denied, the beneficiary is notified of the denial. The claim payment is usually processed and mailed to the beneficiary home address in 4 to 6 weeks.