Life Insurance - Pricing Model (Attachment 1).xlsx

XLSX spreadsheet 41 KB Posted Sep 29, 2020

Attached to: Life Insurance Services Federal contract opportunity
Solicitation number: 9531CB20R0042
Issued by: Consumer Financial Protection Bureau

About this file

Written by GovTribe AI · Dec 27, 2023

This spreadsheet and solicitation request life insurance services for the Consumer Financial Protection Bureau. The spreadsheet provides estimated enrollment figures and pricing templates for basic life, accidental death and dismemberment, optional employee and spouse life, optional family life, and 24-hour personal accident insurance coverage for CFPB employees. The coverage would be provided through a single carrier over a base year and four option years. Responses to the solicitation are due by October 13, 2020 and should be emailed to the points of contact listed. Questions about the solicitation are due by October 2, 2020.

The spreadsheet details estimated enrollment by insurance type and age brackets for the base year and each option year. Pricing templates require respondents to provide bi-weekly rates per $1,000 of coverage and resulting bi-weekly and annual premiums. The total evaluated price will be the sum of premiums for the base year and four option years. The solicitation is seeking a life insurance carrier to provide the specified employee benefits to CFPB staff.

View the file

Other files for this federal contract opportunity

Other files attached to Life Insurance Services, newest first.
File	Type	Posted
9531CB20R0042-Amendment0001.pdf	PDF	Oct 5, 2020
9531CB20R0042.pdf	PDF	Sep 29, 2020

On GovTribe

Work with this file on GovTribe

Download the original file
Contacts named in this file
Similar government files
Ask GovTribe AI about this file

Try for free Login

Text version

The file's text, extracted by GovTribe without its formatting.

Base Year

			Base Year	1/1/2021 - 12/31/2021
		Type of Insurance
		Basic Insurance	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

		Basic Life	$157,655,920.00		$0.00	$0.00
		Basic AD&D	$157,655,920.00		$0.00	$0.00
		Total Basic Life + AD&D	$157,655,920.00	$0.000	$0.00	$0.00
		Note: CFPB will pay Contractor based on total combined Basic Life & AD&D Rate.
		Optional Employee Life
		Age Ranges	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

Under 35	$4,600,000	$0.00	$0.00
35-39	$16,450,000	$0.00	$0.00
40-44	$16,600,000	$0.00	$0.00
45-49	$17,500,000	$0.00	$0.00
50-54	$14,700,000	$0.00	$0.00
55-59	$12,475,000	$0.00	$0.00
Age 60 and older	$10,300,000	$0.00	$0.00

		Optional Spouse Life
		Age Ranges	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

Under 35	$938,000	$0.00	$0.00
35-39	$5,961,500	$0.00	$0.00
40-44	$6,159,000	$0.00	$0.00
45-49	$7,023,000	$0.00	$0.00
50-54	$6,987,000	$0.00	$0.00
55-59	$5,620,000	$0.00	$0.00
Age 60 and older	$3,645,000	$0.00	$0.00

		Optional Family Life
		Age Ranges	Number of units – one unit equals $5,000 for spouse plus $2,500 per child	Bi-Weekly Life Rate per Unit/Multiple	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

		Under 35	29		$0.00	$0.00
		35-39	154		$0.00	$0.00
		40-44	137		$0.00	$0.00
		45-49	202		$0.00	$0.00
		50-54	129		$0.00	$0.00
		55-59	135		$0.00	$0.00
		Age 60 and older	79		$0.00	$0.00
		24-Hour Personal Accident
		Optional Self
		Benefit Amount	Number of employees - only elections	Self Bi-Weekly Unit Price	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

		$50,000	18		$0.00	$0.00
		$75,000	2		$0.00	$0.00
		$100,000	13		$0.00	$0.00
		$125,000	1		$0.00	$0.00
		$150,000	8		$0.00	$0.00
		$175,000	1		$0.00	$0.00
		$200,000	21		$0.00	$0.00
		$225,000	0		$0.00	$0.00
		$250,000	17		$0.00	$0.00
		$300,000	10		$0.00	$0.00
		$350,000	4		$0.00	$0.00
		$400,000	5		$0.00	$0.00
		$450,000	1		$0.00	$0.00
		$500,000	44		$0.00	$0.00
		24-Hour Personal Accident
		Optional Family
		Benefit Amount	Number of employee + family elections	Family Bi-Weekly Unit Price	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

$50,000	12		$0.00	$0.00
$75,000	3		$0.00	$0.00
$100,000	24		$0.00	$0.00
$125,000	6		$0.00	$0.00
$150,000	9		$0.00	$0.00
$175,000	2		$0.00	$0.00
$200,000	16		$0.00	$0.00
$225,000	1		$0.00	$0.00
$250,000	18		$0.00	$0.00
$300,000	16		$0.00	$0.00
$350,000	1		$0.00	$0.00
$400,000	4		$0.00	$0.00
$450,000	2		$0.00	$0.00
$500,000	158		$0.00	$0.00
		Base Year Total (Sum of all Sub-Totals, above)		$0.00

Option Year 1

			Option Year 1	1/1/2022 - 12/31/2022
		Type of Insurance
		Basic Insurance	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

		Basic Life	$162,385,597.60		$0.00	$0.00
		Basic AD&D	$162,385,597.60		$0.00	$0.00
		Total Basic Life + AD&D	$162,385,597.60	$0.000	$0.00	$0.00
		Note: CFPB will pay Contractor based on total combined Basic Life & AD&D Rate.
		Optional Employee Life
		Age Ranges	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

Under 35	$4,600,000	$0.00	$0.00
35-39	$16,450,000	$0.00	$0.00
40-44	$16,600,000	$0.00	$0.00
45-49	$17,500,000	$0.00	$0.00
50-54	$14,700,000	$0.00	$0.00
55-59	$12,475,000	$0.00	$0.00
Age 60 and older	$10,300,000	$0.00	$0.00

		Optional Spouse Life
		Age Ranges	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

Under 35	$938,000	$0.00	$0.00
35-39	$5,961,500	$0.00	$0.00
40-44	$6,159,000	$0.00	$0.00
45-49	$7,023,000	$0.00	$0.00
50-54	$6,987,000	$0.00	$0.00
55-59	$5,620,000	$0.00	$0.00
Age 60 and older	$3,645,000	$0.00	$0.00

		Optional Family Life
		Age Ranges	Number of units – one unit equals $5,000 for spouse plus $2,500 per child	Bi-Weekly Life Rate per Unit/Multiple	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

		Under 35	29		$0.00	$0.00
		35-39	154		$0.00	$0.00
		40-44	137		$0.00	$0.00
		45-49	202		$0.00	$0.00
		50-54	129		$0.00	$0.00
		55-59	135		$0.00	$0.00
		Age 60 and older	79		$0.00	$0.00
		24-Hour Personal Accident
		Optional Self
		Benefit Amount	Number of employees - only elections	Self Bi-Weekly Unit Price	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

		$50,000	18		$0.00	$0.00
		$75,000	2		$0.00	$0.00
		$100,000	13		$0.00	$0.00
		$125,000	1		$0.00	$0.00
		$150,000	8		$0.00	$0.00
		$175,000	1		$0.00	$0.00
		$200,000	21		$0.00	$0.00
		$225,000	0		$0.00	$0.00
		$250,000	17		$0.00	$0.00
		$300,000	10		$0.00	$0.00
		$350,000	4		$0.00	$0.00
		$400,000	5		$0.00	$0.00
		$450,000	1		$0.00	$0.00
		$500,000	44		$0.00	$0.00
		24-Hour Personal Accident
		Optional Family
		Benefit Amount	Number of employee + family elections	Family Bi-Weekly Unit Price	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

$50,000	12		$0.00	$0.00
$75,000	3		$0.00	$0.00
$100,000	24		$0.00	$0.00
$125,000	6		$0.00	$0.00
$150,000	9		$0.00	$0.00
$175,000	2		$0.00	$0.00
$200,000	16		$0.00	$0.00
$225,000	1		$0.00	$0.00
$250,000	18		$0.00	$0.00
$300,000	16		$0.00	$0.00
$350,000	1		$0.00	$0.00
$400,000	4		$0.00	$0.00
$450,000	2		$0.00	$0.00
$500,000	158		$0.00	$0.00
		Option Year 1 Total (Sum of all Sub-Totals, above)		$0.00

Option Year 2

			Option Year 2	1/1/2023 - 12/31/2023
		Type of Insurance
		Basic Insurance	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

		Basic Life	$167,257,165.53		$0.00	$0.00
		Basic AD&D	$167,257,165.53		$0.00	$0.00
		Total Basic Life + AD&D	$167,257,165.53	$0.000	$0.00	$0.00
		Note: CFPB will pay Contractor based on total combined Basic Life & AD&D Rate.
		Optional Employee Life
		Age Ranges	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

Under 35	$4,600,000	$0.00	$0.00
35-39	$16,450,000	$0.00	$0.00
40-44	$16,600,000	$0.00	$0.00
45-49	$17,500,000	$0.00	$0.00
50-54	$14,700,000	$0.00	$0.00
55-59	$12,475,000	$0.00	$0.00
Age 60 and older	$10,300,000	$0.00	$0.00

		Optional Spouse Life
		Age Ranges	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

Under 35	$938,000	$0.00	$0.00
35-39	$5,961,500	$0.00	$0.00
40-44	$6,159,000	$0.00	$0.00
45-49	$7,023,000	$0.00	$0.00
50-54	$6,987,000	$0.00	$0.00
55-59	$5,620,000	$0.00	$0.00
Age 60 and older	$3,645,000	$0.00	$0.00

		Optional Family Life
		Age Ranges	Number of units – one unit equals $5,000 for spouse plus $2,500 per child	Bi-Weekly Life Rate per Unit/Multiple	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

		Under 35	29		$0.00	$0.00
		35-39	154		$0.00	$0.00
		40-44	137		$0.00	$0.00
		45-49	202		$0.00	$0.00
		50-54	129		$0.00	$0.00
		55-59	135		$0.00	$0.00
		Age 60 and older	79		$0.00	$0.00
		24-Hour Personal Accident
		Optional Self
		Benefit Amount	Number of employees - only elections	Self Bi-Weekly Unit Price	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

		$50,000	18		$0.00	$0.00
		$75,000	2		$0.00	$0.00
		$100,000	13		$0.00	$0.00
		$125,000	1		$0.00	$0.00
		$150,000	8		$0.00	$0.00
		$175,000	1		$0.00	$0.00
		$200,000	21		$0.00	$0.00
		$225,000	0		$0.00	$0.00
		$250,000	17		$0.00	$0.00
		$300,000	10		$0.00	$0.00
		$350,000	4		$0.00	$0.00
		$400,000	5		$0.00	$0.00
		$450,000	1		$0.00	$0.00
		$500,000	44		$0.00	$0.00
		24-Hour Personal Accident
		Optional Family
		Benefit Amount	Number of employee + family elections	Family Bi-Weekly Unit Price	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

$50,000	12		$0.00	$0.00
$75,000	3		$0.00	$0.00
$100,000	24		$0.00	$0.00
$125,000	6		$0.00	$0.00
$150,000	9		$0.00	$0.00
$175,000	2		$0.00	$0.00
$200,000	16		$0.00	$0.00
$225,000	1		$0.00	$0.00
$250,000	18		$0.00	$0.00
$300,000	16		$0.00	$0.00
$350,000	1		$0.00	$0.00
$400,000	4		$0.00	$0.00
$450,000	2		$0.00	$0.00
$500,000	158		$0.00	$0.00
		Option Year 2 Total (Sum of all Sub-Totals, above)		$0.00

Option Year 3

			Option Year 3	1/1/2024 - 12/31/2024
		Type of Insurance
		Basic Insurance	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

		Basic Life	$172,274,880.49		$0.00	$0.00
		Basic AD&D	$172,274,880.49		$0.00	$0.00
		Total Basic Life + AD&D	$172,274,880.49	$0.000	$0.00	$0.00
		Note: CFPB will pay Contractor based on total combined Basic Life & AD&D Rate.
		Optional Employee Life
		Age Ranges	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

Under 35	$4,600,000	$0.00	$0.00
35-39	$16,450,000	$0.00	$0.00
40-44	$16,600,000	$0.00	$0.00
45-49	$17,500,000	$0.00	$0.00
50-54	$14,700,000	$0.00	$0.00
55-59	$12,475,000	$0.00	$0.00
Age 60 and older	$10,300,000	$0.00	$0.00

		Optional Spouse Life
		Age Ranges	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

Under 35	$938,000	$0.00	$0.00
35-39	$5,961,500	$0.00	$0.00
40-44	$6,159,000	$0.00	$0.00
45-49	$7,023,000	$0.00	$0.00
50-54	$6,987,000	$0.00	$0.00
55-59	$5,620,000	$0.00	$0.00
Age 60 and older	$3,645,000	$0.00	$0.00

		Optional Family Life
		Age Ranges	Number of units – one unit equals $5,000 for spouse plus $2,500 per child	Bi-Weekly Life Rate per Unit/Multiple	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

		Under 35	29		$0.00	$0.00
		35-39	154		$0.00	$0.00
		40-44	137		$0.00	$0.00
		45-49	202		$0.00	$0.00
		50-54	129		$0.00	$0.00
		55-59	135		$0.00	$0.00
		Age 60 and older	79		$0.00	$0.00
		24-Hour Personal Accident
		Optional Self
		Benefit Amount	Number of employees - only elections	Self Bi-Weekly Unit Price	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

		$50,000	18		$0.00	$0.00
		$75,000	2		$0.00	$0.00
		$100,000	13		$0.00	$0.00
		$125,000	1		$0.00	$0.00
		$150,000	8		$0.00	$0.00
		$175,000	1		$0.00	$0.00
		$200,000	21		$0.00	$0.00
		$225,000	0		$0.00	$0.00
		$250,000	17		$0.00	$0.00
		$300,000	10		$0.00	$0.00
		$350,000	4		$0.00	$0.00
		$400,000	5		$0.00	$0.00
		$450,000	1		$0.00	$0.00
		$500,000	44		$0.00	$0.00
		24-Hour Personal Accident
		Optional Family
		Benefit Amount	Number of employee + family elections	Family Bi-Weekly Unit Price	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

$50,000	12		$0.00	$0.00
$75,000	3		$0.00	$0.00
$100,000	24		$0.00	$0.00
$125,000	6		$0.00	$0.00
$150,000	9		$0.00	$0.00
$175,000	2		$0.00	$0.00
$200,000	16		$0.00	$0.00
$225,000	1		$0.00	$0.00
$250,000	18		$0.00	$0.00
$300,000	16		$0.00	$0.00
$350,000	1		$0.00	$0.00
$400,000	4		$0.00	$0.00
$450,000	2		$0.00	$0.00
$500,000	158		$0.00	$0.00
		Option Year 3 Total (Sum of all Sub-Totals, above)		$0.00

Option Year 4

			Option Year 4	1/1/2025 - 12/31/2025
		Type of Insurance
		Basic Insurance	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

		Basic Life	$177,443,126.91		$0.00	$0.00
		Basic AD&D	$177,443,126.91		$0.00	$0.00
		Total Basic Life + AD&D	$177,443,126.91	$0.000	$0.00	$0.00
		Note: CFPB will pay Contractor based on total combined Basic Life & AD&D Rate.
		Optional Employee Life
		Age Ranges	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

Under 35	$4,600,000	$0.00	$0.00
35-39	$16,450,000	$0.00	$0.00
40-44	$16,600,000	$0.00	$0.00
45-49	$17,500,000	$0.00	$0.00
50-54	$14,700,000	$0.00	$0.00
55-59	$12,475,000	$0.00	$0.00
Age 60 and older	$10,300,000	$0.00	$0.00

		Optional Spouse Life
		Age Ranges	Estimated Monthly Volume	Bi-Weekly Life Rate per $1,000	Bi-Weekly Premium
((Column C/$1,000) multiplied by Column D)	Yearly Premium

(Column E multipled by 26)

Under 35	$938,000	$0.00	$0.00
35-39	$5,961,500	$0.00	$0.00
40-44	$6,159,000	$0.00	$0.00
45-49	$7,023,000	$0.00	$0.00
50-54	$6,987,000	$0.00	$0.00
55-59	$5,620,000	$0.00	$0.00
Age 60 and older	$3,645,000	$0.00	$0.00

		Optional Family Life
		Age Ranges	Number of units – one unit equals $5,000 for spouse plus $2,500 per child	Bi-Weekly Life Rate per Unit/Multiple	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

		Under 35	29		$0.00	$0.00
		35-39	154		$0.00	$0.00
		40-44	137		$0.00	$0.00
		45-49	202		$0.00	$0.00
		50-54	129		$0.00	$0.00
		55-59	135		$0.00	$0.00
		Age 60 and older	79		$0.00	$0.00
		24-Hour Personal Accident
		Optional Self
		Benefit Amount	Number of employees - only elections	Self Bi-Weekly Unit Price	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

		$50,000	18		$0.00	$0.00
		$75,000	2		$0.00	$0.00
		$100,000	13		$0.00	$0.00
		$125,000	1		$0.00	$0.00
		$150,000	8		$0.00	$0.00
		$175,000	1		$0.00	$0.00
		$200,000	21		$0.00	$0.00
		$225,000	0		$0.00	$0.00
		$250,000	17		$0.00	$0.00
		$300,000	10		$0.00	$0.00
		$350,000	4		$0.00	$0.00
		$400,000	5		$0.00	$0.00
		$450,000	1		$0.00	$0.00
		$500,000	44		$0.00	$0.00
		24-Hour Personal Accident
		Optional Family
		Benefit Amount	Number of employee + family elections	Family Bi-Weekly Unit Price	Bi-Weekly Premium
(Column C multiplied by Column D)	Estimated Annual Premium

(Column E multiplied by 26)

$50,000	12		$0.00	$0.00
$75,000	3		$0.00	$0.00
$100,000	24		$0.00	$0.00
$125,000	6		$0.00	$0.00
$150,000	9		$0.00	$0.00
$175,000	2		$0.00	$0.00
$200,000	16		$0.00	$0.00
$225,000	1		$0.00	$0.00
$250,000	18		$0.00	$0.00
$300,000	16		$0.00	$0.00
$350,000	1		$0.00	$0.00
$400,000	4		$0.00	$0.00
$450,000	2		$0.00	$0.00
$500,000	158		$0.00	$0.00
		Option Year 4 Total (Sum of all Sub-Totals, above)		$0.00

Total Evaluated Price

		Base Year Total	$0.00
		Option Year 1 Total	$0.00
		Option Year 2 Total	$0.00
		Option Year 3 Total	$0.00
		Option Year 4 Total	$0.00
		Total Evaluated Price
(Sum of all Five Years)	$0.00

File details come from the government source that posted it. Updated Sep 29, 2020.