Group Level Term Life

Group Level Term Life  

Overview

As an MSBA member, you may qualify for Group Level Term Life Insurance offered by ReliaStar Life Insurance Company and endorsed by MSBA. Apply now and enjoy premiums that are designed to remain level for 10 years (20 years also available) *. Call 1-800-501-5776 for further information. 

Life insurance coverage is provided under the terms of a group life insurance policy, Group Policy 29063-7 issued and delivered in the state of Minnesota, and governed by its laws, to the Minnesota State Bar Association as the policyholder. The group life insurance policy is issued by ReliaStar Life Insurance Company, Minneapolis, Minnesota. The policy is administered on behalf of ReliaStar Life Insurance Company by Mercer Consumer, an insurance administrator licensed in the state of Minnesota. Policy Form LP08GP.    
Insurance Application and Brochure

Tell me More

Three Reasons to Choose MSBA Level Term Life Insurance

  • Your rates and benefit amounts are designed to stay the same for either 10 or 20 years*.
  • You'll pay economical group rates. You have the buying power of nearly 16,000 MSBA members to help keep the premiums economical.
  • Your satisfaction is 100% guaranteed. You have 30 days to review your certificate. If you're not happy with the plan, simply write "cancel" on your certificate and mail it back to us. There's no obligation provided no claims have been submitted or paid, 100% of premium will be refunded.

 

Eligibility

  • You must be a Minnesota State Bar Association member 18-60 years of age for the 10-year plan (18-50 years of age for the 20-year plan).
  • You must be actively at work.
  • You cannot already be insured by this plan.
  • The amount of insurance requested is $100,000 or greater.
  • Your attained age is under age 61 at the time of your application.
  • Your application form indicates premiums are to be paid on a level term basis.


Monthly Rates per $1,000 of Coverage for the 10-Year Level Term Life Plan

Your rate for the entire term of your coverage is your rate for your age at the time coverage is issued.*

 

                                                Volume Band: $100,000 through $499,999                                     July 2019

Issue
Age

Male

Male

Male

Female

Female

Female

Tobacco

Preferred

Super
Preferred

Tobacco

Preferred

Super
Preferred

18

0.112

0.056

0.046

0.075

0.045

0.041

19

0.112

0.056

0.046

0.075

0.045

0.041

20

0.112

0.056

0.046

0.075

0.045

0.041

21

0.112

0.056

0.046

0.075

0.045

0.041

22

0.112

0.056

0.046

0.075

0.045

0.041

23

0.112

0.056

0.046

0.075

0.045

0.041

24

0.112

0.056

0.046

0.075

0.045

0.041

25

0.112

0.056

0.046

0.075

0.045

0.041

26

0.112

0.056

0.046

0.075

0.045

0.041

27

0.114

0.056

0.046

0.079

0.046

0.041

28

0.117

0.057

0.046

0.083

0.046

0.041

29

0.122

0.057

0.046

0.088

0.047

0.041

30

0.133

0.057

0.046

0.100

0.048

0.041

31

0.140

0.057

0.047

0.107

0.048

0.041

32

0.149

0.057

0.047

0.115

0.048

0.041

33

0.159

0.058

0.047

0.124

0.048

0.041

34

0.170

0.058

0.047

0.133

0.048

0.041

35

0.182

0.058

0.047

0.143

0.048

0.041

36

0.195

0.059

0.047

0.155

0.050

0.041

37

0.209

0.062

0.047

0.167

0.053

0.042

38

0.226

0.065

0.048

0.180

0.056

0.046

39

0.244

0.070

0.051

0.193

0.062

0.050

40

0.263

0.076

0.054

0.207

0.066

0.055

41

0.286

0.083

0.058

0.220

0.073

0.060

42

0.310

0.090

0.063

0.234

0.078

0.065

43

0.336

0.098

0.070

0.249

0.086

0.072

44

0.362

0.107

0.078

0.264

0.093

0.078

45

0.389

0.118

0.086

0.279

0.101

0.083

46

0.416

0.130

0.095

0.294

0.108

0.088

47

0.444

0.144

0.104

0.310

0.116

0.092

48

0.474

0.158

0.112

0.327

0.125

0.097

49

0.508

0.173

0.122

0.345

0.133

0.102

50

0.545

0.191

0.132

0.364

0.143

0.108

51

0.586

0.210

0.145

0.385

0.153

0.116

52

0.631

0.231

0.160

0.407

0.163

0.123

53

0.679

0.253

0.179

0.430

0.174

0.132

54

0.731

0.278

0.198

0.456

0.188

0.139

55

0.786

0.305

0.222

0.483

0.203

0.149

56

0.841

0.334

0.244

0.512

0.217

0.160

57

0.898

0.365

0.265

0.543

0.233

0.170

58

0.965

0.396

0.292

0.576

0.252

0.181

59

1.051

0.435

0.320

0.614

0.272

0.190

60

1.169

0.481

0.353

0.666

0.297

0.212

 

 

 

                                                  Volume Band: $500,000 through $1,000,000                             July 2019

Issue
Age

Male

Male

Male

Female

Female

Female

Tobacco

Preferred

Super
Preferred

Tobacco

Preferred

Super
Preferred

18

0.101

0.051

0.038

0.064

0.034

0.027

19

0.101

0.051

0.038

0.064

0.034

0.027

20

0.101

0.051

0.038

0.064

0.034

0.027

21

0.101

0.051

0.038

0.064

0.034

0.027

22

0.101

0.051

0.038

0.064

0.034

0.027

23

0.101

0.051

0.038

0.064

0.034

0.027

24

0.101

0.051

0.038

0.064

0.034

0.027

25

0.101

0.051

0.038

0.064

0.034

0.027

26

0.101

0.051

0.038

0.064

0.034

0.027

27

0.103

0.051

0.038

0.068

0.035

0.027

28

0.106

0.051

0.038

0.072

0.036

0.027

29

0.111

0.051

0.039

0.077

0.037

0.028

30

0.118

0.052

0.039

0.085

0.041

0.030

31

0.125

0.052

0.039

0.092

0.043

0.032

32

0.134

0.053

0.039

0.100

0.044

0.033

33

0.144

0.053

0.042

0.109

0.044

0.035

34

0.155

0.053

0.042

0.118

0.044

0.035

35

0.167

0.053

0.042

0.128

0.044

0.035

36

0.180

0.053

0.042

0.140

0.045

0.036

37

0.194

0.056

0.044

0.152

0.048

0.039

38

0.211

0.060

0.046

0.165

0.051

0.042

39

0.228

0.065

0.048

0.178

0.057

0.046

40

0.248

0.071

0.053

0.192

0.062

0.050

41

0.270

0.076

0.058

0.205

0.068

0.055

42

0.295

0.085

0.066

0.219

0.074

0.060

43

0.321

0.092

0.073

0.234

0.080

0.067

44

0.347

0.101

0.081

0.249

0.088

0.073

45

0.374

0.113

0.089

0.264

0.096

0.079

46

0.401

0.123

0.099

0.279

0.103

0.086

47

0.429

0.138

0.107

0.295

0.110

0.091

48

0.459

0.152

0.116

0.312

0.119

0.097

49

0.492

0.167

0.128

0.330

0.127

0.103

50

0.530

0.185

0.140

0.349

0.137

0.112

51

0.571

0.202

0.154

0.370

0.144

0.119

52

0.615

0.223

0.172

0.392

0.155

0.132

53

0.664

0.245

0.191

0.415

0.167

0.142

54

0.716

0.269

0.213

0.441

0.180

0.154

55

0.771

0.295

0.236

0.468

0.195

0.167

56

0.825

0.324

0.258

0.497

0.209

0.179

57

0.882

0.348

0.283

0.527

0.225

0.191

58

0.950

0.383

0.312

0.561

0.243

0.202

59

1.036

0.421

0.342

0.598

0.263

0.215

60

1.146

0.467

0.378

0.643

0.284

0.234

 

*The initial premium will not change for the first ten years unless the insurance company exercises its right to change premium rates for all insureds covered under the group policy with 60 days advance written notice.

 

Monthly Rates per $1,000 of Coverage for the 20-Year Level Term Life Plan

 

                                                  Volume Band: $100,000 through $499,999                              July 2019

Issue
Age

Male

Male

Male

Female

Female

Female

Tobacco

Preferred

Super
Preferred

Tobacco

Preferred

Super
Preferred

18

0.133

0.073

0.057

0.097

0.055

0.045

19

0.133

0.073

0.057

0.097

0.055

0.045

20

0.133

0.073

0.057

0.097

0.055

0.045

21

0.133

0.073

0.057

0.097

0.055

0.045

22

0.133

0.073

0.057

0.097

0.055

0.045

23

0.133

0.073

0.057

0.097

0.055

0.045

24

0.133

0.073

0.057

0.097

0.055

0.045

25

0.133

0.073

0.057

0.097

0.055

0.045

26

0.133

0.073

0.057

0.097

0.055

0.045

27

0.139

0.076

0.059

0.104

0.057

0.046

28

0.147

0.080

0.062

0.112

0.059

0.047

29

0.157

0.084

0.065

0.122

0.062

0.049

30

0.173

0.092

0.072

0.135

0.067

0.053

31

0.186

0.096

0.074

0.146

0.071

0.056

32

0.201

0.101

0.077

0.158

0.075

0.058

33

0.217

0.106

0.078

0.171

0.079

0.060

34

0.236

0.112

0.078

0.184

0.084

0.063

35

0.257

0.118

0.078

0.195

0.088

0.066

36

0.277

0.126

0.080

0.209

0.095

0.070

37

0.291

0.131

0.083

0.228

0.102

0.075

38

0.309

0.138

0.088

0.248

0.110

0.078

39

0.330

0.146

0.093

0.269

0.118

0.082

40

0.359

0.158

0.101

0.289

0.126

0.087

41

0.398

0.173

0.110

0.311

0.134

0.093

42

0.445

0.190

0.122

0.331

0.142

0.100

43

0.499

0.212

0.134

0.353

0.150

0.107

44

0.557

0.232

0.149

0.378

0.159

0.118

45

0.613

0.254

0.163

0.404

0.169

0.127

46

0.670

0.274

0.178

0.433

0.182

0.138

47

0.730

0.296

0.196

0.466

0.196

0.149

48

0.757

0.318

0.213

0.502

0.212

0.163

49

0.820

0.345

0.233

0.540

0.229

0.176

50

0.890

0.379

0.253

0.578

0.248

0.190

 

 

 

                                                    Volume Band: $500,000 through $1,000,000                             July 2019

Issue
Age

Male

Male

Male

Female

Female

Female

Tobacco

Preferred

Super
Preferred

Tobacco

Preferred

Super
Preferred

18

0.125

0.066

0.047

0.089

0.047

0.035

19

0.125

0.066

0.047

0.089

0.047

0.035

20

0.125

0.066

0.047

0.089

0.047

0.035

21

0.125

0.066

0.047

0.089

0.047

0.035

22

0.125

0.066

0.047

0.089

0.047

0.035

23

0.125

0.066

0.047

0.089

0.047

0.035

24

0.125

0.066

0.047

0.089

0.047

0.035

25

0.125

0.066

0.047

0.089

0.047

0.035

26

0.125

0.066

0.047

0.089

0.047

0.035

27

0.131

0.068

0.049

0.096

0.049

0.036

28

0.139

0.070

0.051

0.104

0.052

0.038

29

0.149

0.074

0.053

0.114

0.055

0.039

30

0.162

0.079

0.057

0.125

0.059

0.042

31

0.175

0.082

0.059

0.136

0.063

0.045

32

0.190

0.086

0.061

0.147

0.067

0.047

33

0.207

0.090

0.064

0.160

0.071

0.050

34

0.225

0.094

0.066

0.174

0.076

0.053

35

0.246

0.099

0.069

0.188

0.080

0.056

36

0.269

0.106

0.073

0.204

0.087

0.061

37

0.285

0.114

0.077

0.221

0.094

0.065

38

0.303

0.122

0.081

0.242

0.102

0.070

39

0.323

0.129

0.087

0.263

0.110

0.075

40

0.352

0.138

0.093

0.283

0.118

0.080

41

0.391

0.152

0.104

0.304

0.126

0.086

42

0.439

0.167

0.116

0.325

0.134

0.093

43

0.493

0.183

0.128

0.347

0.142

0.102

44

0.549

0.201

0.143

0.372

0.151

0.111

45

0.607

0.221

0.156

0.398

0.161

0.121

46

0.664

0.242

0.172

0.428

0.174

0.130

47

0.723

0.265

0.189

0.460

0.188

0.143

48

0.787

0.291

0.207

0.495

0.204

0.156

49

0.854

0.320

0.226

0.533

0.221

0.168

50

0.924

0.353

0.246

0.573

0.240

0.185

 

*The initial premium will not change for the first twenty years unless the insurance company exercises its right to change premium rates for all insureds covered under the group policy with 60 days advance written notice.


You will be billed semiannually for your convenience. Premiums are based on your age at the date of issue and will not increase due to your age or health status. Coverage will not be reduced during your level term period. Premiums will only be increased for all insureds in the same age and rate class. The level term rate period begins on the effective date assigned by ReliaStar Life. Plan benefits are offered for amounts $100,000 to $1,000,000. The 10-year plan is offered for persons aged 18-60. The 20-year plan is offered for persons aged 18-50.


If you choose the Accidental Death & Dismemberment option you will receive the same level of coverage as your Level Term Life Insurance. The Accidental Death Dismemberment rate is $0.04 per $1,000 of coverage per month, regardless of your age, gender and smoking status.


Qualifications for this MSBA Level Term Life Plan offer are few:

  • You must be a member of MSBA and between the age of 19-60 years of age.
  • You cannot already be insured by this plan.

 

If ReliaStar Life approves the insurance, premiums will be determined on a Level Term Rate Period basis if all of the following conditions are met:


All members and spouses/domestic partners must complete an application form for any new coverage or to increase coverage (including dependent coverage) or to begin an initial or subsequent 10 or 20 year Level Term Rate Period when 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. 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 Level Term Life Plan will start after your application has been approved by the insurer and your first premium has been paid.

Your insurance stops on the earliest of the following dates:  the last day of the month during which you are no longer eligible for insurance under the group policy; if you are not totally disabled, the date the group policy terminates; if you are totally disabled, the date ReliaStar Life stops waiving premiums under the Waiver of Life Insurance Premium Disability Benefit; the end of the period for which you paid premiums, if you do not make the next required premium contribution when due.

 

Accelerated Life Benefit

The Accelerated Life Benefit option is available to help terminally ill insureds during a difficult, and often financially challenging, time. Under this provision, you may request one advance payment equal to 50% of your (or your insured dependent’s) in force life insurance, or $150,000, whichever is less, to be paid while the terminally ill person is still alive. You must have at least $20,000 in Life Insurance coverage in force to qualify for this benefit. The amount of insurance payable after the insured’s death will be reduced by this payment. Premium contributions will not be reduced.

 

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.

 

To qualify, a terminally ill insured must provide ReliaStar Life with a doctor’s statement which gives the diagnosis of your medical condition and states you have a life expectancy of no more than six months. For additional details and limitations, please see the Certificate of Insurance.

 

Please note that receipt of the 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.

 

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.


Group Term Life Insurance underwritten by ReliaStar Life Insurance Company, Minneapolis, MN, a member of the Voya® family of companies. Policy form LP08GP.

This is a paid endorsement. The MSBA receives a fee from the insurance broker and/or the insurer for its endorsement of this plan.

Contact Us

Program Administrator

 Address
Mercer Consumer
PO Box 10374
Des Moines, IA 50306-8812
 Phone
1-800-501-5776
 Hours
 M-F 7:30a-5p CT
 Email
customerservice.service@mercer.com

 

Group Term Life Insurance
Underwritten By:

 Address
ReliaStar Life Insurance Company
20 Washington Avenue South
Minneapolis, MN 55401-1900

FAQs

  • Who recommends/approves benefit changes or premium changes?

    The insurance companies reserve the right to change rates. They usually report "plan experience" (or the number and size of claims made) twice a year and, if applicable, rate change recommendations. Using this information, the Group Insurance Administrator works with MSBA to evaluate the recommendations and decide what, if any, action (i.e. a rate change, a change in benefits, or even a change in insurance companies) is appropriate to maintain each plan's financial stability and competitive status. Actions are subject to MSBA Approval, and insured members are advised of MSBA's decision, prior to implementation.

  • Who is Mercer Consumer, the Administrator of the Program?

    Mercer Consumer is the company contracted to manage the Group Insurance Program. Mercer Consumer is not affiliated with the insurance companies that underwrite each plan.

  • Who are the current insurance carriers, and what are their ratings?

    This varies according to each plan. The Group Insurance Administrator seeks the best opportunities for our members, so the plans are underwritten by different insurance companies. All of the companies enjoy solid ratings by A.M. Best Company, which annually measures the financial strength of insurance companies.

    Mercer Consumer, a service of Mercer Health & Benefits Administration LLC, 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 Consumer 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.

  • How long does the application process take? When will my coverage become effective?

    The application process depends on many factors: the number of persons to be insured, their ages, the amount of coverage for which you apply, your medical history and that of your family members (if applying for dependent coverage), and the type of coverage applied for.

  • Do I have to take a medical exam, blood test, etc.?

    This depends on the plan you are requesting, your age, the amount of coverage for which you apply, and your individual medical history.

  • How do the rates work on the Level Term Life insurance plans?

    Premiums are designed to remain level and will not increase due to age or health status. Premiums will only be increased if they are increased for all insureds in the same age and rate class with 60 days advance written notice.

  • Can my spouse/domestic partner obtain separate coverage?

    Yes, a spouse or domestic partner can obtain separate coverage.

  • What does the term Group mean?

    These are "group" plans, negotiated especially for MSBA Members and their spouses. This means that you cannot be singled out for a rate increase. Rates, although not guaranteed, can only be changed on a group basis.

Mercer's Role & Compensation

Details of Mercer disclosure of the compensation.