Frequently Asked Questions
If you and your spouse are both PERS retirees, you can only be covered for yourself and not as a dependent of your spouse.
Does my coverage under the group policy
have cash value?
No. Group term life insurance does not accrue
cash value or dividends.
How are benefits paid?
The benefit amount will be paid to the designated
beneficiary.
Are there any exclusions?
Accidental Death Exclusions
The loss must occur as a direct result of an injury;
and the loss must occur within 365 days of the
accident causing the injury. We will not pay a
benefit for a loss which, directly or indirectly, in
whole or in part, is caused by or results from any
of the following: (1) intentionally self-inflicted injury,
suicide or any attempt thereat while sane or insane
(while sane in Colorado and Missouri) (2) declared
or undeclared war or act of war; (3) military or
combat activities while serving in the armed
forces, National Guard, or organized reserve corps
in any state, country, or international authority;
(4) sickness, disease, bodily or mental infirmity or
medical or surgical treatment thereof, or bacterial
or viral infection, regardless of how contracted.
This does not include bacterial infection that is
the natural and foreseeable result of an accidental
external bodily injury or accidental food poisoning.
(5) flight in, boarding or alighting from an Aircraft
or any craft designed to fly above the Earth’s
surface: a. except as a fare paying passenger on
a regularly scheduled commercial airline; b. being
flown by the Covered Person or in which the
Covered Person is a member of the crew; c. being
used for: i. crop dusting, spraying or seeding,
giving and receiving flying instruction, firefighting,
sky writing, sky diving or hang-gliding, pipeline
or power line inspection, aerial photography or
exploration, racing, endurance tests, stunt or
acrobatic flying; or ii. any operation that requires
a special permit from the FAA, even if it is granted
(this does not apply if the permit is required only
because of the territory flown over or landed on);
d. designed for flight above or beyond the earth’s
atmosphere; e. an ultra-light or glider; f. being
used for the purpose of parachuting or skydiving;
g. being used by any military authority, except
an Aircraft used by the Air Mobility Command or
its foreign equivalent; (6) the Covered Person’s
intoxication as determined according to the laws
of the jurisdiction in which the accident occurred;
(7) voluntary ingestion of any narcotic, drug,
poison, gas or fumes; (8) driving while intoxicated
or driving under the influence of a controlled
substance; (9) riding or driving as a professional
in any kind of race for prize money or profit. See
your Certificate of Insurance for details.
Life Exclusions
The only situation not covered is suicide
within two years after the effective date of this
coverage. There will be a refund of premiums paid.
When does my coverage end?
Term life coverage ends automatically on the
earliest of the following: 1) The date the policy
is terminated; 2) The premium due date after
the Member is no longer a member of the
Policyholder; 3) the date the grace period ends
if all premiums due have not been paid; the
premium due date next following your attainment
of age 120.
Spouse coverage will automatically end on the
earliest of the following: 1) the date your coverage
terminates; 2) the premium due date after the
spouse ceases to be an eligible dependent.
If your term life insurance ends, you may be
eligible to convert the terminated coverage to
certain types of individual life insurance policies
without providing evidence of insurability.
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556069
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