The erosion of the dollar may have left many people without sufficient life insurance coverage. This may be especially true of those  within ages that traditionally may be too old to buy additional term life coverage.

That's where a supplemental plan like the HSBA Group Senior Term Life Insurance Plan can help. It lets you add to your existing life insurance at economical group rates.

Benefit Features:

• Easy application process
• No medical exam required
• Accelerated Life Benefit
• Choice of beneficiary

Review your cost of living regularly to be sure your life insurance is adequate. With the HSBA Group Senior Term Life Insurance Plan, it's easy to update your coverage.

ELIGIBILITY
HSBA members age 50 to age 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 who is between the ages of 45 to age 74 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.

APPLY FOR UP TO $50,000 OF COVERAGE
Choose the amount of Group Senior Term Life insurance you need to help cover you and your family.
Amounts Of Insurance:
Members – $5,000 to $50,000 in $5,000 increments.
Spouse – $5,000 to $50,000 in $5,000 increments.
(Note:  spouse coverage may not exceed 100 percent of member/employee coverage.)
PLAN FEATURES

No Medical Exam Required
You are not required to take a physical or medical exam to be approved for coverage. All it takes is satisfactorily answering, to the insurer, the questions on the application.
Choice of Benefit
You and your spouse can select a life insurance amount of $5,000 to $50,000 (in increments of $5,000).
 

Accelerated Life Benefit
This important plan option gives you the ability to collect part of your HSBA Term Life benefits before your death if your doctor diagnoses you with a terminal illness, as defined in the certificate, and a life expectancy of six months or less. You can collect up to 50 percent of your benefits before you die–to use however you wish.

You must have at least $5,000 in Life Insurance coverage in force and be under age 74 to qualify for this benefit.

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.

Receipt of 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.

Keep Your Cost Manageable
Rates have been provided on a monthly basis per $1,000 of coverage to make it easier for you to compare this Plan to other insurance plans on the market today. Four modes of payment are available to suit your budget: quarterly billing, semiannual billing or annual billing; and our Monthly Pre–Authorized Check Payment Plan.
 

Your Cost

Rates guaranteed until June 30, 2024
*For renewal purposes only
Coverage reduces to 50% at age 75, to 25% of original face amount at age 80, and to a maximum of $2,500 at age 85. When your coverage reduces, it will never reduce below $2,500.

Premiums are based on the applicant’s age at date of issue and on attained age at renewal dates. Your rate will not increase due to your health status. Premiums will only be increased if premiums are increased for all insureds in the same age or rate class.

If applicable, an additional $2.00 billing fee will be included on your billing notice payable to the administrator. To save the fee, select Electronic Funds Transfer (EFT) as a safe and secure payment option.

Send No Money Now!
All you need to do is return the completed application. You will be billed for the appropriate premium upon approval of your application by the insurer.

OTHER IMPORTANT INFORMATION

Exclusions You’re covered 365 days a year, wherever you are. The only exclusion is suicide within the first two years of the date your insurance or increase in insurance starts. The Accelerated Life Benefit is subject to additional exclusions.
 

You Name Your Beneficiary
You may name anyone you wish as the beneficiary for this coverage, and you may change the beneficiary by contacting the Insurance Administrator in writing and advising them of the change.

You may also choose to name a beneficiary that you cannot change without his or her consent. This is an irrevocable beneficiary.

ADDITIONAL PLAN PROVISIONS

Effective Date
Your insurance will become effective on the later of the following dates:

• ReliaStar Life approves your proof of good health;
• Your premium is received;
• You become eligible for insurance; or
• You apply for insurance, if proof of good health is not required.
   

When Coverage Ends
As long as you remain an active member of the HSBA, pay your premium when due, and the group policy remains in force, you can keep your coverage. 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.
• The end of the period for which you paid premiums, if you do not make the next required premium contribution when due
• The date the Group Policy terminates.
• For Accelerated Life Benefit, the date your Life Insurance stops.
   

Once you are approved for coverage by the insurer, you will have a 60–day grace period for your payment of renewal premium contributions. When you want to submit a claim, call or write the Administrator for claim forms.

Certificate Of Insurance
This information is only a brief description of the principal provisions and features of the Plan. The complete terms and conditions are set forth in the group certificate issued by ReliaStar Life.

When you become insured, you will be sent a Certificate of Insurance describing your benefits under the Group Policy.

30–Day Free Look
If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it, provided no claims have been submitted or paid, within 30 days. Your coverage will be invalidated and you will be sent a full refund – no questions asked!

PLEASE KEEP FOR YOUR RECORDS
All members and spouses must complete an application form for any new coverage or to increase coverage. Proof of good health is required. 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. Your HSBA Group Senior Term Life Plan will start on the first day of the month after your application has been approved by the insurer and your first premium has been paid.  

Answers about the program, including eligibility, options, customer service and more.

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.

Life insurance coverage is provided under the terms of a group life insurance policy, Group Policy #66716-1, issued and delivered in the state of Hawaii, and is governed by its laws, to The Hawaii State Bar 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 AMBA Administrators, Inc., an insurance administrator licensed in the state of Hawaii. Product available may vary by state. Policy Form LP08GP.

The Hawaii State Bar receives a fee for its endorsement of the insurance programs. The fees are used to offset the cost of program oversight and support member benefits and services.