The PEBB Program provides life insurance to eligible members through Metropolitan Life Insurance Company (MetLife). As a PEBB retiree, you may be eligible to purchase retiree term life insurance on a self-pay basis or continue your employee life insurance coverage under the Portability or Conversion provisions. Learn more on MetLife's website.
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Manage your retiree term life insurance
As a PEBB retiree, you may be eligible for enroll in PEBB retiree term life insurance on a self-pay basis. If eligible PEBB retirees have the option to purchase $5,000, $10,000, $15,000, or $20,000 of coverage.
How much does PEBB retiree term life insurance cost?
Your cost depends on the amount of coverage you select and your age. The monthly premiums increase as you reach a new age bracket. Your coverage does not decrease as you age.
Retiree term life insurance is available to subscribers who:
- Meet PEBB retiree eligibility requirements,
- Were enrolled in PEBB or SEBB Program basic life insurance as an employee,
- Are not on a waiver of premium due to disability, and
- Return the required forms to the PEBB Program no later than 60 days after the date their PEBB employee or SEBB employee basic life insurance ended. For elected and full-time appointed officials, the PEBB Program must receive the required forms no later than 60 days after the official leaves public office.
Your dependents are not eligible for retiree term life insurance and you cannot have a break in life insurance coverage.
To enroll in PEBB retiree term life insurance
The PEBB Program must receive these forms no later than 60 days after your PEBB or SEBB employee basic life insurance ends, or no later than 60 days after the date you leave public office if you are an elected or full-time appointed official. If you enroll when you become eligible, insurance becomes effective the first day of the month following the date your PEBB or SEBB employee basic life insurance coverage ended.
What happens to my PEBB retiree term life insurance if I start working again?
If you are enrolled in retiree term life insurance and return to work, becoming eligible for the employer contribution toward PEBB or SEBB employee basic life insurance, you can choose whether to keep or cancel your retiree term life insurance.
If you cancel retiree term life insurance when you return to work, you may be eligible to elect retiree term life insurance when your PEBB or SEBB employee basic life insurance ends. If you wish to enroll in retiree term life insurance again, the required forms must be received as described in WAC 182-12-209.
If your PEBB employee life insurance ends due to retirement, you may have an opportunity to continue all or part of your coverage through a portability or conversion option. If you are eligible for these options, MetLife will send you information and an application. For more information, please contact MetLife at 1-877-275-6387.
You have the option to convert if your retiree term life insurance:
- Ends because:
- The group policy ends, provided you have been enrolled in life insurance for at least 5 continuous years; or
- The group policy is amended to end all life insurance for an eligible class of which you are a member, provided you have been enrolled for at least 5 continuous years; or
- Is reduced due to a change to this group policy.
If you decide not to convert a reduction in the amount of your retiree term life insurance as described above, you will not have the option to convert that amount at a later date.
Retirees enrolled in retiree term life insurance through MetLife can take advantage of MetLife’s comprehensive suite of services including Will Preparation and Estate Planning Services at no additional cost. Learn more on MetLife's website.
Who can I name as my beneficiary?
You can name any beneficiary you wish when you complete the MetLife retiree enrollment/change form, or anytime during the year through MyBenefits, or submitting a completed beneficiary form to MetLife. If you die with no named living beneficiary, payment will generally be made in accordance with the plan certificate. To obtain a plan certificate, visit MyBenefits or call MetLife at 1-866-548-7139.
What if I become disabled?
If you become disabled after the effective date of this insurance, you must continue making premium payments to keep your insurance in force.
How do my survivors file a claim?
If you die, your beneficiary should call MetLife at 1-866-548-7139. Your beneficiary should also notify the PEBB Program of your death. We may share this information with the Department of Retirement Systems to better serve your survivors.
To cancel your retiree term life insurance you must submit a written request or complete MetLife’s Retiree Cancellation Form and send it to:
MetLife Recordkeeping Center
PO Box 14406
Lexington, KY 40512-4406
Note: Cancelling retiree term life insurance is permanent. You may not reapply to retiree term life in the future, unless you regain eligibility.