RFP_31786-00193_Amendment_One_Schedule_Update.docx

This is an amendment to the Request for Proposals issued by the State of Tennessee Department of Finance and Administration, Division of Benefits Administration for life and accidental death and dismemberment (AD&D) insurance services (RFP 31786-00193). The amendment provides a schedule update to the original RFP timeline. The solicitation seeks a single contractor to provide three integrated, fully-insured insurance products: voluntary term life insurance (employee-paid), voluntary AD&D insurance (employee-paid), and basic term life with basic AD&D insurance (employer-paid through minimum premium arrangement) to eligible employees of State Government and State Higher Education agencies and their dependents. The original proposal due date was November 13, 2026 at 2:00 p.m. Central Time, with a pre-response conference scheduled for August 31, 2026. The contract term runs from January 1, 2028 through December 31, 2032, with a claims run-out period extending through June 30, 2034. The Notice of Intent to Award is expected January 28, 2027.

Evaluation of responses will be based on 100 total points, with cost proposal weighted at 50 points, technical qualifications at 40 points, and general qualifications at 10 points. Respondents must hold a current Tennessee Certificate of Authority and demonstrate at least six years of experience providing life and AD&D insurance to at least five employer accounts, with at least one account serving a minimum of 10,000 members. Cost proposals will be evaluated using guaranteed monthly premium rates for each coverage type and contract year, with premium rates constrained so that ported coverage premiums cannot exceed active employee rates by more than 20 percent for any age bracket. The incumbent carrier is Minnesota Life Insurance Company (Securian Financial) with policies 34175 (Voluntary Term Life), 34294 (Basic Term Life & AD&D), and 34295 (Voluntary AD&D). Historical enrollment data indicates basic term life and basic AD&D coverage of approximately 68,000 to 72,000 employees with total coverage volumes ranging from $10.2 billion to $11.2 billion monthly; voluntary term life enrollment of 12,132 employee lives, 5,094 spouse lives, and 8,143 child rider lives as of June 2026.