Employee and Retiree Service Center → Retirees → Benefits → Life Insurance
Information on this page is valid through December 31, 2017. For benefit details and changes effective January 1, 2018, please visit our 2018 Retiree Benefits web page.
Life Insurance for Retirees
At retirement, you may either elect to continue your basic employee term life insurance coverage or to cancel your coverage. If you elect to cancel your coverage, you are not permitted to reenroll.
At retirement, the amount of life insurance in force is 42.5 percent of your active employee basic term life insurance amount. For each of the next four years, on the anniversary of your retirement, the life insurance amount will reduce by 7.5 percent of the active life amount. On the fourth anniversary of your retirement, the life insurance amount becomes 12.5 percent of the active life amount and will remain at that level for your lifetime as long as the premiums are paid.
Update your life insurance beneficiaries (PDF)
Submit this form to update your life insurance beneficiaries. Be sure to mark "change of beneficiary only" in Section II and fill in all new beneficiary information in Section VII. Keep a copy of this form for your records.
Accelerated Death Benefit
MCPS life insurance plans offer an accelerated death benefit. This benefit provides a payment of up to 75 percent of your life insurance benefit if your life expectancy is 12 months or less, and the payment can be used for any purpose. Any remaining life insurance benefits will be paid to your beneficiary after your death. To apply for the accelerated death benefit, the retiree/insured and the attending physician complete the forms below. Once they are completed, the retiree/insured submits both forms to the Employee and Retiree Services Center (ERSC). Learn more about this benefit.