Employees with universal life under former insurer to receive letters soon
Employees who have universal life insurance through Transamerica, Purdue's former provider of this voluntary coverage, will receive a letter next week explaining how to continue coverage, if they desire to do so.
For 2011, Purdue changed to Trustmark for universal life insurance. As a result, beginning in January, premiums for universal life coverage through Transamerica were no longer deducted from employee paychecks. However, as stated during open enrollment, employees who wish to continue their Transamerica coverage may do so by paying their premiums directly to Transamerica.
Next week's letter will come from Transamerica and will include a bank draft form for employees who would like to have the Transamerica universal life insurance premiums taken directly from their bank accounts.
For more information on the universal life insurance plan and the new payment arrangements, employees should call Transamerica toll-free at 888-763-7474.