INSURANCEAPPROVED

Philadelphia Housing Authority Board Meeting Agenda May 2026

Standard Life selected for PHA employee life and disability

Not to exceed $733,095 (base $244,365 + two options of $244,365 each)Philadelphia Housing AuthoritySTANDARD LIFE INSURANCE COMPANYMay 20, 2026

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Description

The Philadelphia Housing Authority approved a benefits contract with Standard Life Insurance Company valued up to $733,095 to provide group life, AD&D, executive long-term disability, and voluntary disability and supplemental life coverage starting August 1, 2026. The agreement includes one base year and two optional one-year extensions.

Contract Details

Contract Amount

Not to exceed $733,095 (base $244,365 + two options of $244,365 each)

Vendor

STANDARD LIFE INSURANCE COMPANY

Agency

Philadelphia Housing Authority, PA

Contract Type

INSURANCE

Document Date

May 20, 2026

Contract Term

One-year base period (Aug 1, 2026 – Jul 31, 2027) plus two one-year option periods

Renewal Date

2027-07-31

Renewal Info

One-year base period from August 1, 2026 to July 31, 2027 with two additional one-year option periods; full three-year term would total up to $733,095 if both options are exercised.

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Issuing Agency

Philadelphia Housing Authority

Local Housing Authority

Philadelphia, PA

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Vendor