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 spouse/domestic partner can now take advantage of a simplified issue application 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 for coverage. 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.*
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.
Three Reasons to Choose the MSBA Simplified Issue Group 10-Year Level Term Life Insurance
Rates shown are monthly as of August 1, 2022.
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.
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 you are 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 your 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, you 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.
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 spouses/domestic partner, 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 spouses/domestic partner must complete an application 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.
Consider Your Eligibility
Before you apply for coverage, you must be a member in good standing of MSBA. You must be a member for 30 days before initiating your insurance requests. If you have any questions about membership, see the MSBA home page.
Can my spouse/domestic partner obtain separate coverage?
Do I have to take a medical exam, blood test, etc.?
How can I apply?
How can I learn more about this plan?
How long does the application process take? When will my coverage become effective?
Who is Mercer Health & Benefits Administration LLC, the Administrator of the Program?
Who are the current insurance carriers and what are their ratings?