Visit Our YouTube Channel Email icon Visit Us on Facebook 
Home > Retirees > Insurance

  • Retiree Dependent Term Life Insurance

    Life insurance coverage available for eligible dependents. Retiree Dependent Term Life Insurance pays you $2,500 in the event of your dependent's death. Requires you to pay a monthly premium of $3.05. This amount covers all eligible dependents.

    Minnesota Life is the insurer for Dependent Term Life Insurance starting January 1, 2012.

  • Texas image 

  • How to enroll when you retire

    Sign into your account and select Election Update to make changes within 31 days of your retirement date.

    During Annual Enrollment, log in to your account and select Benefits Enrollment to make changes.

    If you need assistance, contact ERS.

  • Is Evidence of Insurability required?

    You can apply to sign up your dependent's for Dependent Term Life insurance through EOI within the first 31 days of retirement.

    A newly acquired dependent or a newly eligible dependent may be enrolled without Life EOI within the first 31 days of becoming a GBP-eligible dependent.

    Retirees can remove a dependent from or waive Dependent Term Life Insurance at any time.

    If you have Dependent Term Life Insurance on the day you retire from state employment, you may keep it in retirement as long as your dependents remain eligible.

     

  • Claims

    • Viatical Settlement Option

      If your dependent is diagnosed with a terminal condition, you may enter into a Viatical Settlement  that pays a percentage of the benefit now.

    • Policy Claim

      You must report a death to ERS to file a claim.

    • Conversion Privilege

      Your spouse may convert his or her Dependent Term Life Insurance policy to an individual life insurance policy. Not available to children.

    • Accelerated Life Benefit

      Apply to receive lump sum payment if your dependent is diagnosed with terminal illness.