Group Term Life Insurance Benefits
One of the premiere benefits of your membership in National Consumers Benefits Association is the Group Term Life Insurance. Life insurance is one of the most cost-effective ways to help safeguard your assets and assist your family when they need it most. While you could never be replaced, life insurance can help your family weather some of the financial burden resulting from your death.
Term life insurance offers effective supplemental protection for times when your family needs it the most. Restrictions apply. Please review the Terms and Conditions or your Insurance Certificate.
Group Term Life Insurance with Accidental Death Benefit Coverage, varies by age and benefit amount for the Primary Member as follows:
| Group Term Life Insurance Benefit | $10,000 | $5,000 | $2,500 |
|---|---|---|---|
| Waiting Period | 12 Months | 12 Months | 12 Months |
| Coverage during Waiting Period | $10,000 Accident Only | $5,000 Accident Only | $2,500 Accident Only |
| Primary Member Ages 18-64 | $10,000 | $5,000 | $2,500 |
| Primary Member Ages 65-69 | $5,000 + $5,000 Accident Only | $2,500 + $2,500 Accident Only | $1,250 + $1,250 Accident Only |
| Primary Member Ages 70+ | $10,000 Accident Only | $5,000 Accident Only | $2,500 Accident Only |
During the first 12 months that your membership is active, waiting period benefits are limited to the Accidental Death Benefits only when death is due to accidental causes. After 12 months of continuous active membership, benefits are provided based on your attained age as reflected in the benefit tiers shown above.
Spousal benefits are 50% of the Primary Member's term life insurance benefit, subject to the waiting period and attained age benefit tiers shown above. Child benefits are 25% of the Primary Member's term life insurance benefit.
Not available in all states
The information contained herein is offered as insurance industry guidance and provided as an overview of current market risks and available coverages and is intended for discussion purposes only. This publication is not intended to offer legal advice or client-specific risk management advice. Any description of insurance coverages is not meant to interpret specific coverages that you may already have in place or that may be generally available. General insurance descriptions contained herein do not include complete insurance policy definitions, terms and/or conditions, and should not be relied on for coverage interpretation. Actual insurance certificates must always be consulted for full coverage details and analysis.
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