If I resign from State service but am not old enough to start receiving a pension until sometime in the future, will I be eligible for optional life insurance coverage when my pension begins?
If you receive your pension within one year from leaving active State payroll, you will be classified as an Immediate Annuitant and would be eligible to purchase optional life insurance coverage. You would not be able to increase your optional life insurance coverage without evidence of insurability and approval from the life insurance carrier. If you receive your pension after one year from leaving active State payroll, you will be classified as a Deferred Annuitant and would only be eligible for basic life insurance coverage. You would not be eligible to purchase optional life coverage for yourself or your dependents.
