You generally have the greatest need for life insurance during your working years, when your family relies heavily on your paycheck. However, you may continue to have financial obligations after you retire. Life insurance may help relieve those financial obligations, but there are certain coverage changes that take place as you age.

Before age 70, you may choose Optional Life coverage up to $100,000 in multiples of $1,000. Once you select your coverage amount, you may only increase it if you provide evidence of insurability. The maximum is always $100,000 under age 70.

On the 1st of the month following your 70th birthday, your coverage will automatically reduce to $60,000. Between 70 and 80, the coverage maximum is $60,000. After age 80, your coverage will automatically reduce to $30,000.

You can buy more coverage than you had at retirement, later increase your coverage, or enroll for the first time in Optional Life coverage after retirement if you provide evidence of insurability. You must choose a coverage amount in multiples of $1,000, and you may increase up to $100,000 if you are younger than age 70 and $60,000 if you are between ages 70 and 80.