Anyone happen to know if life insurance is available to buy through AT&T as a retiree in 2023 like we can purchase now?
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Why would you pay any premium to AT&T? They have insurance but mostly "self insured" through their trust fund. Figure out what your family may need if you were gone - mortgage, college, etc. Check out Selectquote, very helpful reasonable rates and I had a heart issue. Or you could check out Dave Ramsey's site I think they have Zander insurance. Cancel AT&T mobile service and jump on over to T-Mobile or what ever carrier works in your area. AT&T has no concern over you as an employee why would you give them another dime. AT&T Directv just cancelled Newsmax and had cancelled OAN - out the door it goes.
" In other words if you have some illness it may disqualify you from normal insurance that's what group is good for."
This is sound advice for sure, as through AT&T payroll deduction supplemental you can have quite a bit of coverage in place with no medical exam. That said, if you do go over a certain amount (for me it was 10X salary I believe), they did send someone out to basic medical and health screening, bloodwork...standard stuff for any large insurance policy.
Since I am healthy, I take advantage of the "free" insurance through T and got quotes for external 20 year term for the rest. Which is right about the same cost (little cheaper) than what I paid for the supplemental through T, and will be significantly cheaper than what I would be paying if retired (it goes up significantly).
I'll probably discontinue the term as soon as I feel I no longer need it, but good feeling to have it in place outside of T for now.
Look around don’t count on Att for anything important they usually find a way out of it.
I would not be concerned with AT&T rates being higher and don't eligibility expire before you do research. Because you may not even be eligible for affordable life insurance outside of the group. In other words if you have some illness it may disqualify you from normal insurance that's what group is good for.
Re: the insurance, use Selectquote . Put your info in and you’ll get prices from multiple carriers. Much easier than contacting them all separately. And yes, it will certainly be cheaper than what you can get from T as a retiree and probably cheaper than what you pay as an employee.
Re: the retiree 30% off Mobility benefit… the employee benefit is 50% off but you can even beat that as a regular customer in many places. (Like any of the MVNO’s). So you will certainly do better almost literally anywhere else as a retiree.
I retired in December 2022, and I'm inundated with calls and emails to continue life insurance and other benefits at a T discounted rate, I'm told you have 90 days to enroll or you lose eligibility. The T rates are still higher than what you can find by calling the major carriers on your own, like Aetna or North Western Mutual. Same goes for the retirement discount for cell phone service. I went w/ T Mobile on a Christmas special, 10 GB data, unlimited voice & data for $15.50/ month (including taxes) IF you paid 6 months in advance and keep doing so. Purchased an unlocked iPhone 13 from Apple just in case I want to switch, but been very happy with service.
If you’re healthy I would also recommend using Select Quote to compare cost and coverage for you’re paying for supplemental now through AT&T to the open market. I was able to get 20 year term coverage for a little bit less on the open market per month than what I was paying through AT&T. Was able to atop the AT&T payroll deduction (you don’t have to wait until Enrollment) and have the peace of mind not having my insurance tied up with T. PS I found that I would be eligible to continue the supplemental as a retiree, but it would have also become much more expensive.
Why? You will pay a premium with anything related to at&t. If you want life insurance, just purchase on the open market, you will be glad you did.