Long Term Disability Insurance Benefits

The Tampa International Airport awarded a contract to Life Insurance Company of North America (LINA), a Cigna Company, for long term disability insurance benefits. The contract has an initial term of one year, with four one-year renewal options. The estimated annual premium rate is $208,208. The contract provides a core plan and an optional buy-up plan for Authority employees. Key points to consider include: • The contract was awarded through a competitive bidding process, with three firms responding to the request for proposals. • The contract has a total estimated value of $1,034,773.55. • The contract is funded through the O&M Budget. • The Chief Executive Officer has the discretion to exercise the renewal options based on the renewal rates, quality of services, company stability, and market conditions.