As an MSBA Member, you may qualify for the Simplified Issue Group 10-Year Level Term Life Insurance Plan offered by ReliaStar Life Insurance Company and endorsed by MSBA. MSBA has released this simplified enrollment process as one of its premier member benefits.
As an MSBA Member, you and your spouse¹ can now take advantage of a simplified enrollment process for up to $150,000.00 in lump sum benefits under the MSBA Simplified Issue Group 10-Year Level Term Life Insurance Plan. This means you will not have to submit to a full medical exam or provide blood work to be approved. Plus, your affordable group rates are not available to the general public.
Apply now and enjoy premiums that are designed to remain level for 10 years.*
How to Apply
To apply for coverage, download an application by clicking on the link at the top of this page, or, to speak to a customer service representative, call our toll-free number: 1-800-501-5776.
¹In OR, spouse includes domestic partner.
*The initial premium will not change for the first 10 years unless the insurance company exercises its right to change premium rates for all insureds covered under the group policy with 60 days advanced written notice.
Three Reasons to Choose the MSBA Simplified Issue Group 10-Year Level Term Life Insurance
Insurance provided by ReliaStar Life Insurance Company. Policy Form LP08GP. Rates shown are as of 8/1/2016.
Coverage will not be reduced during your level term period. The level term rate period begins on the effective date assigned by ReliaStar Life. Plan benefits are offered for amounts $50,000.00 to $150,000.00. If you are under age 50, you may select up to $150,000.00 of benefits (in $5,000.00 increments). You can apply for up to $100,000.00 in coverage if you are under age 55. You can apply for up to $50,000.00 in coverage if between ages 55-59. To obtain a rate quote for other ages, benefit amounts, or additional information on the plan, call toll-free 1-800-501-5776.
Qualifications for this MSBA Level Term Life Plan offer are few:
For members, beginning on and after the 70th birthday, ReliaStar Life decreases the amount of your insurance. ReliaStar Life pays a percentage of the amount otherwise payable:
For spouses¹, insurance terminates on the Group Policy anniversary date on or after your 70th birthday.
A decrease in the amount of insurance due to age will take effect on the later of your attainment of any of the specified birthdays, or at the end of a level term rate period. Your amount of insurance will not decrease due to age during a level term rate period.
All members and spouses¹ must complete an enrollment form for any new coverage or to increase coverage (including dependent coverage) or to begin an initial or subsequent 10-year Level Term Rate Period when proof of good health is required.
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. If you are in a Level Term Rate Period, premiums for the increased amount of insurance will be based on your attained age on the effective date of the increase.
Your MSBA Simplified Issue Group 10-Year Level Term Life Plan will start on the first day of the month after your application has been approved by ReliaStar Life and your first premium has been paid.
This is a summary of benefits only. A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of coverage. All coverage is subject to the terms of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern.
These form(s) are in Adobe Acrobat Reader (PDF) format
and are available for downloading and printing.
Insurance Application & Brochure
Beneficiary Designation Form
Yes, a spouse¹ can obtain separate coverage.
ReliaStar Life Insurance Company is the insurance carrier for the MSBA Simplified Issue Level Group Term Life Plan. ReliaStar Life is rated A Excellent by A.M. Best. This is the third highest of 15 ratings. A.M. Best company assigns ratings from A++ to F based on a company's financial strength and ability to meet obligations to contract holders.
Mercer Consumer, a service of Mercer Health & Benefits Administration LLC ("Mercer"), makes no representations or warranties, expressed or implied, concerning the financial condition or solvency of any insurers. A.M. Best’s Ratings are under continuous review and subject to change and/or affirmation. For the latest Best’s Ratings and Best’s Company Reports (which include Best’s Ratings), visit the A.M. Best website at http://www.ambest.com. See Guide to Best’s Ratings for explanation of use and charges. Best’s Ratings reproduced herein appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of Mercer or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best’s Ratings. Best’s Ratings are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.
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12421 Meredith Drive
Urbandale, IA 50398
Hours: 7:30 am to 5:00 pm M-F (Central)
ReliaStar Life Insurance Company
Minneapolis, MN 55440
Insurance Application and Brochure
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