UNSPSC 64122005: Whole life insurance policy

A type of life insurance policy that pays a benefit on the death of the insured and also accumulates a cash value.

UNSPSC 64122005 Whole life insurance policy is a Commodity code under which state and local governments procure group life insurance, ancillary life and disability coverage, and related broker or administrative services for municipal, county, and special-district workforces. Recent solicitations show state and local buyers purchasing fully insured and self-insured group term life, voluntary supplemental life, accidental death and dismemberment (AD&D), short-term and long-term disability, and hospital indemnity insurance, often bundled with dental, vision, flexible spending accounts, and COBRA administration. The code also captures broker-of-record and employee benefits consulting services where vendors serve as primary advisors to public agencies on plan design, carrier selection, and ongoing management. Issuing bodies include city human resources departments, county commissioners and administrators, independent school districts, special-purpose districts (regional hospital systems, housing authorities, transit commissions), and state agencies. Counties and municipalities dominate the activity, with school districts and specialized authorities participating selectively. Florida and Texas cities show the highest recent volume, with additional activity in Georgia, South Carolina, Colorado, and Connecticut.

Representative recent opportunities reflect the breadth of this code's real-world scope. The City of Holly Hill, Florida issued RFP 26-HR-01 (due April 8, 2026) seeking comprehensive broker services for medical, dental, vision, firefighter cancer, and life insurance benefits for 109 active employees and 53 retirees—a model brokerage-of-record procurement with weighted evaluation criteria and mandatory pre-proposal conference. Catoosa County, Georgia solicited RFQ 2026-21 (due October 22, 2026) for broker services covering approximately 430 employees across plan design, negotiation, and carrier liaison, with Georgia licensing and E-Verify compliance required. Brevard County, Florida issued RFP 1-26-12 (due July 28, 2026) for a single carrier to consolidate group life, disability, and new supplemental health products (accident, hospital indemnity, critical illness) effective January 1, 2027, with current annual premiums totaling $2,114,474.84 for mandatory lines. The City of Madison, Wisconsin posted RFP 1500102026BG (due August 31, 2026) seeking basic life/AD&D, voluntary life/AD&D, short-term disability, and long-term disability coverage for 3,103 active employees, 230 early retirees, and 1,232 post-65 retirees, with a local-vendor preference of 5 points and effective date of July 1, 2027. The State of Illinois Central Management Services issued a non-competitive renewal notice (26-416CMS-BENF4-B-51318) for MetLife life insurance coverage valued at $561 million total ($261 million basic life, $300 million optional life) for a five-year term through June 30, 2031. Activity spans one-year contracts with renewal options through multi-year agreements; firm rate guarantees of three or more years are common. Evaluation typically weights cost heavily (30–50 points), with technical merit, claims administration, customer service, and network adequacy scoring between 40–70 points combined across responsive criteria.