for AT&T employees and retirees to communicate.. and learn about our upcoming events, about mistakes,or problems and What if's..on our retirement or upcoming retirement
Saturday, August 25, 2007
Insurance
Per HR1 you can keep your Life and supplemental insurance only until you reach 65 and at that time Med Life will determine if you are still a good risk after a phyiscal and of course more money
I just found out something I have wondered about forever. The annuity the company offers has a "pop up" feature. In otherwords; I want 100% survivorship for my spouse...my monthly payment is about $400 less than it would be for just me. If my spouse passes before me, my monthly payment would "pop up" to where it would be had it just been me. I always thought it was a gamble that my spouse would outlive me and I would just have to live with the lesser amount, but this is not true. And, BTW, no, I'm not taking the annuity! This is strictly a FYI!
Great site Shark! I received a letter after my retirement stating that I needed to call benefits and change my insurance. It was a little alarming at first, but just as you said in your post, the insurance company and Benefits both assured me that no changes needed to be made until I reach age 65. The letter was a little deceiving.
Thanks for the site, phoneshark. I believe it will be very helpful to us. I retired in 2002, took a lump sum, now with Washington Mutual who invest through Hartfort. I have been very happy with them.
probe61196,if you feel you need a monthly amount for life or a set number of years , there are private companies that will provide this and when you die money goes to your beneficiaries instead of the company and I know we talked about this but this is for the post
5 comments:
There are other life insurance options that I am exploring now and will post later as I learn more
I just found out something I have wondered about forever. The annuity the company offers has a "pop up" feature. In otherwords; I want 100% survivorship for my spouse...my monthly payment is about $400 less than it would be for just me. If my spouse passes before me, my monthly payment would "pop up" to where it would be had it just been me. I always thought it was a gamble that my spouse would outlive me and I would just have to live with the lesser amount, but this is not true. And, BTW, no, I'm not taking the annuity! This is strictly a FYI!
Great site Shark! I received a letter after my retirement stating that I needed to call benefits and change my insurance. It was a little alarming at first, but just as you said in your post, the insurance company and Benefits both assured me that no changes needed to be made until I reach age 65. The letter was a little deceiving.
Thanks for the site, phoneshark. I believe it will be very helpful to us. I retired in 2002, took a lump sum, now with Washington Mutual who
invest through Hartfort. I have been very happy with them.
probe61196,if you feel you need a monthly amount for life or a set number of years , there are private companies that will provide this and when you die money goes to your beneficiaries instead of the company and I know we talked about this but this is for the post
Post a Comment