Insurance_Group_Life_Disability_-_Current_Rates.pdf

This document contains current insurance premium rates for the City of St. Petersburg, Florida's group life, accidental death and dismemberment (AD&D), supplemental life, and long-term disability insurance plans. The City is seeking proposals from qualified insurance carriers to provide fully insured group coverage including Basic Group Term Life/AD&D, Voluntary Supplemental Life for employees and spouses, Child(ren) Voluntary Supplemental Life, Voluntary Personal AD&D, and Long-Term Disability (LTD) plans. The RFP specifically requests proposals from insurance providers rather than brokers, with the objective of obtaining the most advantageous coverage at the lowest long-term net cost to the City and its eligible employees, retirees, and dependents.

The document presents the current rate structure serving as baseline information for bidders. Basic Employee Life Insurance is priced at $0.11 per $1,000 of coverage monthly, while AD&D coverage ranges from $0.50 to $6.00 monthly for employee-only plans and $0.75 to $9.00 for family coverage, depending on the benefit amount selected (from $25,000 to $300,000). Supplemental Life Insurance is rated at $0.29 per $1,000 for employees, $0.22 per $1,000 for spouses, and $0.12 per $1,000 for dependent children. Basic Retiree Life Insurance is priced at $4.58 per $1,000 of coverage monthly, and Management Long-Term Disability Insurance is rated at $0.19 per $100 of covered salary up to $200,000 annually. The document does not specify response deadlines, award dates, contract term, renewal options, or set-asides.