Retiree Life Insurance

How to File a Claim

To file a claim under this policy, the named beneficiary(ies) on the policy must follow the steps below:

Each named beneficiary(s) on the policy must complete a beneficiary statement, found on page 4 of the Life Insurance Claim Packet (English | Spanish).
Once the death certificate is available, send both the beneficiary statement(s) and a copy of the death certificate to IU Human Resources by email to (preferred); by fax to 812-855-3409; or by mail to ATTN: Retiree Life Claim, 2709 E. 10th Street, Ste 321, Bloomington, IN, 47408. Legible copies are accepted. Originals will not be returned.

Please allow up to 30 days for claims processing after the beneficiary statement(s) and death certificate are submitted. Follow-up information will be sent to the named beneficiary(ies) by U.S. mail.

Overview

Participation in IU-sponsored Basic and Supplemental Life Insurance ends on the day your employment terminates (retirement). Coverage for your dependents terminates at the same time. If you terminate with IU Retiree Status, the university provides a Retiree Life Insurance benefit for you; however, there is no coverage for your dependents.

The amount of Retiree Basic Life Insurance is $6,000 for those terminating with IU Retiree status January 1, 2003, or after.

For those retiring prior to January 1, 2003, the amount of Basic Life Insurance is determined by your annual wage just prior to your retirement. For questions regarding your retiree life insurance amount, contact AskHR at (812) 856-1234 or .

Eligibility

Former employees with IU Retiree Status are automatically covered by the Retiree Life Insurance benefit, with premiums fully paid by the university.

Naming and Updating Beneficiaries

Beneficiary changes can be made at any time by submitting a paper Beneficiary Designation Form to IU Human Resources at the address listed on the form.

Converting/Porting Employee Policy

Coverage for the difference between the amount of active Basic Life Insurance and the amount of Retiree Life Insurance may be converted or ported to an individual policy without providing proof of good health. Supplemental Life Insurance may also be converted up to the amount of coverage you held at the time of termination. Two options are available, and each has its own rates and eligibility criteria. Review the applications carefully to make sure you understand all of these criteria.

Conversion—All former employees have the option to convert the difference to an individual whole life policy. To convert to an individual policy, you must submit a completed Conversion Application and pay the initial premium for the policy within 31 days of your insurance ceasing under the IU-sponsored Employee Group Life policy.
Portability—Former employees under age 65 have the option to port the difference to an individual term life plan. This type of plan is less expensive initially, but the premiums increase with age. To port to an individual policy, you must submit the Portability Application and pay the initial premium for that policy within 31 days of your insurance ceasing under the IU-sponsored Employee Group Life policy.

The Standard makes every effort to provide a conversion offer to employees upon discontinuation of IU-sponsored Employee Group Life coverage; however, it is your responsibility to covert/port your policy in a timely manner whether or not a conversion offer is extended at the time of termination.

If you pass away during the 31 days allowed, the underwriter will pay the amount of Life Insurance that could have been converted/ported to your named beneficiary.

Additional Questions?

For questions about retiree status contact IU Human Resources ( or 812-856-1234).