Attachment 11 - Questions and Answer.docx

This document contains a request for quotation for group life insurance services. The Office of the Comptroller of the Currency and the Office of Financial Research are seeking an experienced contractor to underwrite and administer their group life insurance program for active employees, retirees, and eligible dependents. There are approximately 2,580 employees and 2,510 retirees currently enrolled in the program. The contractor will amend the existing policy to provide the specified benefits and include employees and retirees transferred to the agencies from the Office of Thrift Supervision due to the Dodd-Frank Act. Supplemental life insurance coverage can be purchased from $25,000 to $500,000 or five times the employee's annual salary. Enrollment changes to supplemental coverage due to salary increases up to $50,000 can be made within 31 days. The current administrator is Metropolitan Life Insurance Company, whose five-year contract expires on June 30, 2021.