Contact For Retiree Life Insrance

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Contact For Retiree Life Insrance

Postby Jeaskew » Fri Jun 04, 2021 5:05 pm

Hello,

I am trying to complete my estate planning and I am unable to find anywhere online our Basic (not supplemental) Life Insurance Policy, I have a paper copy of the Summary Plan Description Last Updated 03/31/2016 but I have no idea where I got it from
or if it has been updated since then. I am able to access the ADP App that shows I have a policy and my beneficiary but that's about it. It does not have any policy information or tell me what my policy value is at this time. I have also gone into the Metlife Avaya Website and it allowed me to register but there is no policy or document information. So frustrating!!!

If anyone has been able to get this information I would appreciate you sharing your source/ contact information.

Thanks,

Jo-Ellen
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Re: Contact For Retiree Life Insrance

Postby dlbritton » Fri Jun 04, 2021 7:06 pm

i believe the Basic Life amount is 1 times final annual salary. It is probably indexed downward by 10% of the original amount yearly starting at age 66 until 70 when it will be 50% of the original amount. I worked in HR info systems supporting benefits but it has been 20 years since I left Avaya so the details are a little fuzzy.

If you receive a W2 for COGLI then you have more than $50,000 insurance coverage.
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Re: Contact For Retiree Life Insrance

Postby tfelix » Fri Jun 04, 2021 11:53 pm

I logged onto the ADP website and was able to see what my current life insurance (basic) benefit was as of today. If you click on "Forms and Plan Documents" and then "Summary Plan Descriptions" and then the weblink they provide, and then "retired salaried employee" (if that is you), and then "Life Insurance", and then go to page 12 "Amount of Coverage Available"...you will see a description of how your original amount of benefit gets reduced each year. You will need to know the original amount of your benefit to figure out the final amount available (at age 70) as it is reduced each year starting at age 66.
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