ChryslerLifeInsurance


Chrysler cancels life insurance for non-union, white-collar retirees

Unfortunately for Chrysler's army of some 14,000 white-collar retirees, the automaker has announced that it will be cutting the free life insurance that workers were previously covered by. Those affected will be given a one-time opportunity to buy into the plan themselves, which offers coverage equal to their last year of pay if retired before 2003 or $50,000 for those who retired after the cutoff. They're also eligible for receiving a $4,000 bump in their pensions. Of note is that the cancelation does not affect any union-represented workers ... Read more →

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