Basic Life Insurance and AD&D, Supplemental Life Insurance and AD&D, and Retiree Survivor Benefits

Description

This request for proposal is asking for qualified and experienced carriers to propose benefits that duplicate our current coverages for life insurance, AD&D and survivor benefits. The assessment of an appropriate carrier will be based upon the ability and willingness to provide competitive stand-alone and/or bundled pricing; offer a multi-year rate commitment; guarantee “no loss of coverage” on the transition date; provide administrative support to the city’s benefits division and be able to provide substantial amounts of life insurance on a guaranteed issue basis. Performance guarantees shall be included in the proposal particularly with regards to claim decision and appeal timing, Certificate(s) of Coverage production, Evidence of Insurability (EOI) determination, turn-around time, etc. The city reserves the right to eliminate any and all proposals from consideration for any reason. The proposals submitted shall be in complete accordance with, without limitation, this request for proposal, all codes, requirements and specification referenced therein.