UNSPSC 84131601: Life insurance

UNSPSC 84131601 Life insurance is a Commodity code. State and local governments procure group term life insurance, accidental death and dismemberment (AD&D) coverage, and supplemental or voluntary life products through this code, typically as employer-sponsored benefits for active employees, retirees, and dependents. Coverage structures range from fully insured to self-funded arrangements, with carriers or third-party administrators handling enrollment, claims processing, underwriting, and premium administration. Recent solicitations show a steady stream of requests across school districts, municipalities, county governments, state agencies, and specialized public entities seeking carriers or benefit administrators capable of managing guarantee-issue enrollment, waiver-of-premium determinations, integration with payroll and benefits platforms, and compliance with public-sector procurement requirements including HUB/MBE/WBE certifications where applicable.

Issuing bodies under this code include Texas municipalities (Central Health in Travis County, City of Waxahachie, City of Lewisville, City of Burleson, Manor ISD, City of Orlando), Florida counties and cities (Okaloosa County, City of Holly Hill, New Smyrna Beach Utilities), Colorado and Georgia counties (Boulder County, Athens-Clarke County), school districts across multiple states (Amity Regional School District in Connecticut, St. Louis Public Schools, City Colleges of Chicago, Tempe Elementary School District, Gwinnett County Public Schools, Clarke County School District), the State of Illinois through its Central Management Services agency, and specialized state agencies such as the Texas A&M University System, Mississippi Transportation Commission, and Employees Retirement System of Texas. Geographic activity centers on Texas, Florida, Georgia, Colorado, Illinois, Connecticut, Missouri, and Mississippi, with no dominant single jurisdiction—procurement activity is distributed across state and local bodies of varying sizes. Recent representative opportunities include Central Health's June 2026 RFP for hospital indemnity insurance covering 2,300 employees (due July 13, 2026), the State of Illinois renewal of MetLife life insurance valued at $561 million covering a five-year term (June 2026 notice), the Texas A&M University System's May 2026 RFP for group life and AD&D claims administration for 42,285 employees and retirees (due May 4, 2026), the City of Waxahachie's May 2026 RFP for basic life, voluntary life, and disability coverage for 475 employees (due May 29, 2026), Amity Regional School District's April 2026 RFP for student accident insurance covering 2,205 students (due May 21, 2026), and Boulder County's two-phase April–May 2026 procurement for group life and disability coverage for 2,300 employees beginning January 1, 2027. Evaluation criteria commonly emphasize cost or pricing (40–50%), customer service and claims administration quality (15–30%), implementation capabilities, underwriting and renewal processes, financial stability, and references. Most contracts are awarded for one-year initial terms with multiple one-year renewal options, though longer initial terms (two to five years) appear in state and large-district procurements. Set-asides and preferences vary; Texas entities frequently require HUB certification and good-faith MBE/WBE effort, while Illinois and some other states reference specific disadvantaged-business programs. Pricing is submitted net of commissions in virtually all recent solicitations, and carriers must demonstrate AM Best ratings of A or higher, maintain professional liability insurance, and comply with state licensing and HIPAA requirements.