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  5. ›Group Term Life, AD&D, and Optional Life Insurance Plans

City of Phoenix·Arizona

Group Term Life, AD&D, and Optional Life Insurance Plans

Closes 8/8/2025$20M – $50MRequest for Proposal
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Description

The City of Phoenix is seeking a provider for group term life, AD&D, and optional life insurance plans for a five-year contract, with two option years, commencing on or about January 1, 2027. The provider must meet minimum qualifications, including having been in operation for a minimum of five consecutive years providing Group Term Life, AD&D and Optional Life Insurance Plans. The provider will be responsible for providing services that meet or exceed the minimum level of all features specifically listed in the solicitation. Some key responsibilities include: providing high-quality customer service, best-in-class industry standard technology and systems, efficient, effective and timely claims processing, and timely and accurate reporting. • The provider must have a minimum of five consecutive years of experience providing Group Term Life, AD&D and Optional Life Insurance Plans for private and public entities comparable in size to the City of Phoenix. • The provider must provide a 4-month transition plan consistent with the Scope of Work. • The provider must demonstrate excellent financial security and provide progress reports to the department designee. • The provider must comply with all applicable laws, regulations, and standards, including those related to insurance, employment, and data protection.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Edith Barrera(Procurement Officer)

[email protected]

(602) 495-7664

Key dates

Opened
7/8/2025
Questions due
7/21/2025
Pre-bid meeting
7/18/2025
Closes
8/8/2025
Duration
5 years

Last updated

Details

Type
Request for Proposal
Industry
Insurance
NAICS
5241
Solicitation №
RFP PS-26-0032

Budget estimate

$20,000,000 – $50,000,000

Based on the information provided, it's difficult to estimate the exact budget amount. However, considering the City of Phoenix is seeking a provider for group term life, AD&D, and optional life insurance plans for a five-year contract, with two option years, the budget amount could be substantial. The City has a large workforce, and the insurance plans would need to cover a significant number of employees. Assuming an average annual premium of $500 per employee, and considering the City has around 14,000 employees, the total annual premium would be approximately $7 million. Over a five-year period, this would translate to a total budget of around $35 million. However, this is a rough estimate and the actual budget amount could be higher or lower, depending on various factors such as the provider's rates, the scope of coverage, and the number of employees enrolled in the plans.

AI estimate from the solicitation

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