Life Insurance
Retiree Life insurance
Chubb is phasing out retiree life insurance through Prudential. As the chart below shows, the benefit will be reduced by 25% each year until it is fully eliminated by 2026. Beginning in 2025, your coverage will be reduced to 25% of your original benefit amount.
| Retiree life insurance | Coverage amount (% of coverage) |
|---|---|
| Pre-2023 | 100% |
| 2023 | 75% |
| 2024 | 50% |
| 2025 | 25% |
| 2026 | 0% |
For example, if you currently have $5,000 in retiree life insurance coverage, that amount will be $2,500 in 2025. There will be no coverage beginning in 2026.