As an MSBA member in good standing, you can now qualify for MSBA’s newest member benefit. MSBA Senior Group Term Life is designed for members age 50 through age 74 (for MSBA spouses/Domestic Partners ages 45 through 74). The Senior Term Life plan offers coverage amounts between $10,000.00 and $50,000.00. With no medical exam required, the MSBA Senior Group Term Life plan is right for you.
Member and Spouse/Domestic Partner Coverage
MSBA members age 50 through 74 who reside in the United States are eligible to apply for this coverage as long as they are able to perform the daily living activities of the person of like age and sex. A member’s spouse residing in the United States who is between the ages of 45 through 75 may also apply for coverage as long as they are able to perform the daily living activities of a person of like age and sex.
Note: You don’t have to apply for coverage in order for your spouse or domestic partner to apply for life insurance.
No Medical Exam Required
You are not required to take a physical or medical exam to be accepted into this plan. All it takes is satisfactorily answering to the insurer the questions on the application.
Choice of Benefit Amounts
You and your spouse/domestic partner can select a life insurance amount of $10,000 to $50,000 (in increments of $5,000).
Your Employees May Be Eligible, Too
Employees of MSBA members may be eligible for valuable term life insurance through this plan too. To determine if employees are eligible, contact the Minnesota State Bar Association Administrator at 1-800-501-5776 between 7:30 a.m. and 5 p.m. Central Time, Monday through Friday.
Living Benefit Included (Accelerated Life Benefit)
You can receive up to 50% of your insurance amount you select if you are diagnosed as terminally ill with a life expectancy of six months or less. You must have at least $5,000 in life insurance coverage in force to qualify and be under age 75. Your beneficiary will receive the remainder of your benefit after your death.
MSBA Group Senior Term Life Insurance Plan
Monthly Group Rates
Member / Spouse/Domestic Partner
For rates and coverage amounts not listed, contact the Plan administrator.
Rates shown are guaranteed until July 1, 2015.
*MSBA members’ Spouses/domestic partners ONLY can apply for coverage starting at age 45 (and continue coverage through age 74). MSBA members can apply for coverage starting at age 50 (and continue coverage through age 74).
For your convenience, you will be billed just four times a year. Coverage begins on the first day of the month following approval by ReliaStar Life and payment of first premium. Coverage continues with no decrease in benefits until you reach age 75. At age 75, benefits reduce to 50%. At age 80, benefits reduce to 25% of original face amount. At age 85 and after, benefits will be a maximum of $2,500.00. Coverage cannot be canceled as long as you remain a Member of the Minnesota State Bar Association, pay your premiums when due and the group policy remains in force.
Satisfaction Guaranteed: You may return your Certificate of Insurance within 30 days if you are not completely satisfied with the coverage this plan provides. Any premiums paid will be fully refunded, provided no claims have been submitted or paid.
Exclusions: The only exclusion is suicide, while sane or insane , within two years of the date your insurance or increase in insurance starts.
Effective Date: Coverage will become effective on the first day of the month on or after the later of the following dates: ReliaStar Life approves you or your spouse’s/domestic partner’s proof of good health; you or your spouse’s/domestic partner’s premium is received; you or your spouse/domestic partner become eligible for insurance; or you or your spouse/domestic partner apply for insurance, if proof of good health if not required.
When Coverage Ends: Your insurance stops on the earliest of the following: the last day of the month during which you are not longer eligible for insurance under the group policy; the date the group policy stops; or the end of period for which you paid premiums, if you do not make the next required premium contributions when due.
This information is a brief description of important features of the MSBA Group Senior Term Life Insurance Plan. It is not a contract. Terms and conditions of coverage are set forth in group policy 29063–7 issued to the Minnesota State Bar Association. Full details are contained in the Certificate of Insurance, which will be issued to persons who become insured under the Plan. This Plan may not be available to residents of all states. Availability may change. Policy form LP08GP.
Issued by ReliaStar Life Insurance Company, a member of the Voya family of companies.
AR Ins. Lic. #303439
CA Ins. Lic. #0G39709
These form(s) are in Adobe Acrobat Reader (PDF) format
and are available for downloading and printing.
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