Group Term Life provides coverage to a group of eligible employees under one contract issued to an employer group for a specified period of time. This protection is designed to provide benefits to a designated beneficiary for loss of life if the insured dies while the coverage is in force.
| Minimum Size Group |
10 lives
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| Minimum Participation |
Non-contributory: 100% if the employer pays the entire cost. Contributory: 75% if the employees contribute to cost.
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| Amount |
Choose amounts from $10,000 to a maximum of $500,000.
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| Standard Life Provisions |
Conversion Privilege
Accelerated Death Benefit (with minimum of $15,000 life)
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| Reductions or Termination |
Suggested benefit reduction: 35% at age 65, 50% at age 70 and termination at retirement.
(Other schedules may be quoted upon request)
Accidental Death & Dismemberment will reduce the same as life, except coverage must terminate at retirement.
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| Waiver of Premium |
If you terminate your employment before age 60 because of your total disability, which continues for at least 6 months during which time premiums are paid, your life insurance may be continued while you are totally disabled without payment of premiums to age 65.
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| Dependent Life Standard Plans |
Spouse: $2,000 or $5,000
Children Age 14 days to 6 months: $100 or $200
Children Age 6 months to 19 years: $1,000 or $2,000
Note: other schedules may be quoted upon request |
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| Conversion Privilege |
When the employee's insurance terminates because of death, retirement or termination of employment, dependent coverage may be converted under the same conditions outlined for conversion of the employee's group life insurance. In addition, any dependent no longer eligible under the terms and provisions of the master policy may convert his/her coverage.
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Additional details will be provided upon request.
DISCLAIMER: This is a brief description of the products offered by USAble Life. These descriptions are for informational purposes only. Products and provisions described may not be available in all states. Specific provisions may vary by state. The policy contains a complete description of benefits, provisions, limitations and exclusions. In the event of a conflict between this description and the policy, the policy will prevail.