Your Family's Passport to Financial Security
Life insurance can be one of the cornerstones of financial planning. In the event of an unexpected or premature death, the HSBA Group Annual Term Life Insurance Plan can help provide the financial security your family needs. This life insurance helps make sure they’ll be able to meet current expenses—such as mortgage and car payments—as well as future expenses such as college tuition.
Valuable Benefits
ELIGIBILITY
All HSBA members/employees under age 60 may apply for coverage for themselves, their spouse age 60 or under and all unmarried dependent children ages 14 days to 21 years (25 if a full-time student).
A dependent who is also a member/employee is eligible for either member/employee or dependent coverage, but not both. If both member/employee and spouses are covered as members/employees, neither may insure the other as spouse and only one may insure any eligible children.
APPLY FOR UP TO $1,000,000 OF COVERAGE
Choose the amount of Group Annual Term Life insurance you need to help protect you and your family.
Amounts Of Insurance:
Members/Employees – $25,000 to $1,000,000 in $25,000 increments.
Spouse – $25,000 to $1,000,000 in $25,000 increments. (Note: spouse coverage may not exceed 100 percent of member/employee coverage.)
PLAN FEATURES
Accelerated Life Benefit
This important plan option gives you the ability to collect part of your HSBA Group Annual Term Life benefits before your death if your doctor diagnoses you with a terminal illness, as defined in the certificate, and a life expectancy of six months or less. You can collect 50 percent of your benefits (or $100,000, whichever is less) before you die–to use however you wish.
You must have at least $10,000 in Life Insurance coverage in force to qualify for this benefit.
This money can be used to help cover high prescription drug costs…medical bills…outstanding debts…to help pay for experimental treatments…the cost of modifications to your home…or for a family vacation – the choice is yours.
Receipt of accelerated benefit may be taxable, or may adversely affect your eligibility for Medicaid or other government benefits. You should consult your personal tax advisor to assess the impact of this benefit.
Waiver of Premium
If you become totally disabled, as defined in the certificate, for 6 months or longer before age 60, your coverage and benefits will continue at no cost to you – for as long as you’re disabled or until you reach age 75 (members/spouses) or until the date of your retirement (employees) – whichever is first.
Keep Your Cost Manageable
Rates have been provided on a monthly basis per $1,000 of coverage to make it easier for you to compare this Plan with other insurance plans on the market today. Four modes of payment are available to suit your budget: quarterly billing, semiannual billing or annual billing; and our Monthly Pre–Authorized Check Payment Plan.
Your Cost
Hawaii State Bar Association, 66716-1 |
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Non-Tobacco |
Tobacco |
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Age
|
$25,000 - $125,000 |
$150,000-$1,000,000 |
$25,000 - $125,000 |
$150,000-$1,000,000 |
Under 30 |
0.06 |
0.07 |
0.08 |
0.08 |
30-34 |
0.10 |
0.09 |
0.10 |
0.09 |
35-39 |
0.13 |
0.12 |
0.14 |
0.13 |
40-44 |
0.18 |
0.19 |
0.23 |
0.21 |
45-49 |
0.30 |
0.29 |
0.39 |
0.35 |
50-54 |
0.48 |
0.50 |
0.67 |
0.60 |
55-59 |
0.75 |
0.80 |
1.10 |
1.06 |
60-64* |
1.16 |
1.16 |
1.49 |
1.34 |
65-69* |
2.12 |
1.91 |
2.42 |
2.18 |
70-74* |
2.75 |
2.48 |
3.62 |
3.26 |
Rates guaranteed until June 30, 2024
*For renewal purposes only
Coverage reduces to 50% at age 70.
Member and Spouse coverage terminates at age 75.
Employee of Member coverage terminates at retirement.
Dependent Child(ren) Coverage: Coverage of $5,000 or $10,000 is available for your children at a monthly rate of $1.00 or $2.00 respectively. One premium covers all eligible children.
Premiums are based on the applicant’s age at date of issue and on attained age at renewal dates. Your rate will not increase due to your health status. Premiums will only be increased if premiums are increased for all insureds in the same age or rate class.
Acceptance into this plan is subject to medical evidence of insurability as determined by ReliaStar Life. Depending on your age, amount of coverage you request and your answers on the application, a medical examination, medical test(s) or other evidence of good health may be required. Any exams/tests requested by the insurer will be conducted at your convenience at no expense to you.
If applicable, an additional $2.00 billing fee will be included on your billing notice payable to the administrator. To save the fee, select Electronic Funds Transfer (EFT) as a safe and secure payment option.
Send No Money Now!
All you need to do is return the completed application. You will be billed for the appropriate premium upon approval of your application by the insurer.
OTHER IMPORTANT INFORMATION
Exclusions You’re covered 365 days a year, wherever you are. The only exclusion is suicide within the first two years of the date your insurance or increase in insurance starts. The Accelerated Life Benefit is subject to additional exclusions.
You Name Your Beneficiary
You may name anyone you wish as the beneficiary for this coverage, and you may change the beneficiary by contacting the Insurance Administrator in writing and advising them of the change.
You may also choose to name a beneficiary that you cannot change without his or her consent. This is an irrevocable beneficiary.
ADDITIONAL PLAN PROVISIONS
Effective Date
The Member's/Employee's/Spouse's insurance will become effective on the later of the following dates:
When Coverage Ends
As long as you remain an active member of HSBA, pay your premium when due, and the group policy remains in force, you can keep your coverage until age 75. Your insurance stops on the earliest of the following dates:
Renewal Payments And Claims
Once you are approved for coverage by the insurer, you will have a 60–day grace period for your payment of renewal premium contributions. When you want to submit a claim, call or write the Administrator for claim forms.
Certificate Of Insurance
This information is only a brief description of the principal provisions and features of the Plan. The complete terms and conditions are set forth in the group certificate issued by ReliaStar Life.
When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the Group Policy.
30–Day Free Look
If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it, provided no claims have been submitted or paid, within 30 days. Your coverage will be invalidated and you will be sent a full refund – no questions asked!
PLEASE KEEP FOR YOUR RECORDS
All members/employees and spouses must complete an application form for any new coverage or to increase coverage (including dependent coverage). Proof of good health is required. Some applicants may be required to have a medical exam in order to apply for coverage. For more information on medical requirements, please contact your plan administrator. If there is an increase in the amount of your insurance, the increase will take effect on the first day of the month on or next following the date of the increase. Your HSBA Group Annual Term Life Plan will start on the first day of the month after your application has been approved by the insurer and your first premium has been paid.
We're here to help! Please contact us in whatever manner is most convenient for you.
| Mailing Address AMBA 4050 114th Street Urbandale, Iowa 50322 |
|---|
| Phone 1-866-810-9451 |
| Hours M-F 7:30a-5p CT |
| Email [email protected] |
Who is eligible for this insurance?
All HSBA members/employees under age 60 may apply for coverage for themselves, their spouse age 60 or under and all unmarried dependent children ages 14 days to 21 years (25 if a full-time student).
A dependent who is also a member/employee is eligible for either member/employee or dependent coverage, but not both. If both member/employee and spouses are covered as members/employees, neither may insure the other as spouse and only one may insure any eligible children.
Coverage of $5,000 or $10,000 is available for your children at a monthly rate of $1.00 or $2.00 respectively. One premium covers all eligible children.
This coverage is available only for residents of the United States. Product availability may vary by state.
Rates shown are guaranteed until June 30, 2024.
Will I meet with a salesperson?
By whom is this plan underwritten?
How does the Accelerated Life Benefit work?
The Accelerated Life Benefit option is available to help terminally ill insureds during a difficult and often financially challenging time. Under this benefit you may request an advance payment up to 50 percent of your life insurance benefits (or $100,000, whichever is less) before you die—to use however you wish.
This money can be used to help cover high prescription drug costs…medical bills…outstanding debts…to help pay for experimental treatments…the cost of modifications to your home…or for a family vacation—the choice is yours.
(Note: A doctor–certified terminal illness means an illness from which no recovery is expected, that results in a life expectancy of 6 months or less.)
You must have at least $10,000 in Life Insurance coverage in force to qualify for this benefit.
Receipt of accelerated benefit may be taxable, or may adversely affect your eligibility for Medicaid or other government benefits. You should consult your personal tax advisor to assess the impact of this benefit.
When is the coverage effective?
The member’s/employee’s/spouse’s insurance starts on the first day of the month on or after the later of the following dates:
How much insurance can I apply for?
Members/Employees–$25,000 to $1,000,000 in $25,000 increments.
Spouse–$25,000 to $1,000,000 in $25,000 increments. (not to exceed member/employee amount)
Children–$5,000 or $10,000
Are there any exclusions?
When does the coverage end?
As long as you remain an active member of HSBA, pay your premium when due, and the group policy remains in force, you can keep your coverage until age 75. Your insurance stops on the earliest of the following dates:
What if I have second thoughts after I apply?