What would your loved ones do without you? Colorado PERA’s optional life insurance program is an affordable way to help them pay the bills if you pass away during your working years. This coverage can continue into retirement as long as you enroll while you’re still working.

You are guaranteed coverage without a health exam or medical questions if you enroll during the open enrollment period from April 1 through May 31. 

Under the decreasing-term life insurance program, administered by Unum, you’ll pay lower premium payments than with a typical whole life insurance policy and your loved ones will receive a pre-determined benefit amount upon your death. 

Your benefit amount decreases as you age, which can be beneficial for covering liabilities that generally decrease as you age, such as a mortgage.

Premiums will be deducted automatically from your paycheck while working or from your retirement benefit once you retire (premiums increase when you retire), so you don’t have to worry about making monthly payments on your own. Your coverage also includes additional benefits:

• Your spouse and children (up to age 21) are automatically covered. 
• You may receive benefits for certain serious injuries, like loss of sight or hearing. 
• You may have access to your life insurance benefit early if you’re diagnosed with a terminal illness. 
• You and your family can get free life planning and legal assistance in the event of a terminal illness or death.

​You can enroll online by logging into your PERA account using your User ID and password, or you can print the form and mail it to Unum. ​

Get the financial protection you need for as little as $7.75 per month.