Life Insurance Coverage for Retirees

On this page: Claims | Overview | Eligibility | Beneficiaries | Conversion | Questions

How to File a Claim

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

  1. Each named beneficiary(s) on the policy must complete a beneficiary statement, found on page 4 of the Life Insurance Claim Packet.
  2. 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, 420 N. Walnut Street, Bloomington, IN, 47404. 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 online by completing an Optional Benefit Change in the Employee Center. If you do not have access to the Employee Center, you can submit a paper Beneficiary Designation Form to IU Human Resources at the address listed on the form.

Conversion of Life Insurance

Conversion of Life Insurance for Retirees. Coverage for the difference between the amount of Basic Life Insurance coverage as an active employee and the amount of the Retiree benefit may be converted to an individual whole life policy without providing proof of good health. Supplemental Life Insurance may also be converted up to the amount of coverage you held at retirement.

You must apply for an individual policy and pay the first premium for that policy within 31 days of retirement by submitting a completed Conversion Application and your payment directly to The Standard.

The Standard makes every effort to provide a conversion offer to employees upon discontinuation of IU-sponsored Group Life Insurance coverage; however, it is your responsibility to covert 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 for conversion, the underwriter will pay the amount of Life Insurance that could have been converted to your named beneficiary.

Conversion of Life Insurance for Dependents. Retiree coverage does not include coverage for dependents. Dependents may purchase an individual policy when their coverage ends due to your retirement or the when they no longer meet the definition of a dependent for coverage under the plan. The amount of the individual policy is limited to no more than the amount at the time coverage ceased. The dependent must submit a Conversion Application and pay the initial premium within 31 days of the date on which coverage ends.

Additional Questions?

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