Management life insurance 2025

The City of Jersey City in Hudson County, New Jersey, is seeking proposals from life insurance companies to provide Life and Accidental Death and Dismemberment (AD&D) Insurance for eligible management employees through a competitive Request for Proposals (RFP) process. The procurement is specifically targeting a one-year insurance contract effective July 1, 2025, with potential renewal options for two additional one-year terms. The insurance coverage will be three times an employee's annual earnings, rounded to the next higher $1,000, with a maximum coverage of $425,000 for both Life and AD&D insurance, subject to reduction schedules based on employee age (35% reduction at age 65 and an additional 15% at age 70). Proposers must match current plan designs, submit rates for the July 1, 2025 effective date, and provide details on any value-added services included in the policy. The proposal submission is paper-only and requires original signatures, with all forms and addenda acknowledgments included. Proposals are due by April 24, 2025, at 4:00 pm, and the City Council will vote to accept a proposal within 30 days of receipt through a "fair and open" process under the New Jersey Local Unit Pay-to-Play Law.

The RFP will be awarded through a competitive process that requires proposers to comply with equal employment opportunity provisions and Americans with Disabilities Act requirements. While no specific set-aside designations for disadvantaged enterprises are explicitly mentioned, proposers must submit various administrative forms and certifications as part of their response. The procurement does not specify an exact budget range or award value, but the coverage is designed for full-time management employees across the city's workforce. No incumbent vendor information is provided in the available documentation. The selection will be based on a comprehensive evaluation of proposed rates, plan design compatibility, coverage terms, and additional value-added services. Potential vendors must carefully review all RFP documents, acknowledge all addenda, and ensure complete compliance with submission requirements to avoid being deemed non-responsive.