Group Senior Term Life Insurance

Group Senior Term Life Insurance  

Overview

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 enrollment 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.

Forms

These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing.

Tell Me More

ELIGIBILITY
HSBA members age 50 through 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 through 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 you are diagnosed with a terminal illness. If your doctor diagnoses you with a life expectancy of 6 months or less,  and you are under age 75, you can collect up to 50 percent of your benefits before you die–to use however you wish.

(Note: A doctor–certified terminal illness means an illness from which no recovery is expected, that results in a life expectancy of 6 months or less.) You must have at least $5,000 in Life Insurance coverage in force 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

Hawaii State Bar Association, 66716-1
Senior Group Term Life Monthly Rates per $1,000

Attained Age

Member/Spouse of Member

Male

Female

45-49

$0.67

$0.46

50-54

$0.92

$0.52

55-59

$1.38

$0.79

60-64

$2.00

$1.32

65-69

$3.09

$2.23

70-74

$4.31

$3.38

75-79*

$6.69

$5.14

80-84*

$11.57

$8.33

85-89*

$17.77

$13.52

90+

$28.00

$22.10

Rates guaranteed until December 31, 2020
*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, 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 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.

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. The Hawaii State Bar is 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 Hawaii. The group policy is issued in the state of Hawaii and is governed by its laws. This coverage is available to only to residents of the United States. Product availability may vary by state.

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.

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

Contact Us

We're here to help! Please contact us in whatever manner is most convenient for you.

 

  Mailing Address
Mercer Consumer, a service of
Mercer Health & Benefits Administration LLC
PO Box 14464
Des Moines, IA 50306-8993
 Phone
1-866-810-9451
 Hours
 M-F 7:30a-5p CST
 Email
customerservice.service@mercer.com

FAQs

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

  • Who is eligible for this insurance?

    HSBA members age 50 through 74 are eligible for this coverage as long as they are able to perform the daily living activities of the person of like age. A member’s spouse who is between the ages of 45 through 74 may also apply for coverage as long as they are able to perform the daily living activities of a person of like age.

     

    This coverage is available only for residents of the United States. Product availability may vary by state.

  • How does the Accelerated Life Benefit work?

    The Accelerated Life Benefit option is available to help terminally ill insureds under age 75  during a difficult and often financially challenging time. Under this provision you may request an advance payment up to 50 percent of your life insurance benefits before you die—to use however you wish.

     

    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.

     

    (Note: A doctor–certified terminal illness means an illness from which no recovery is expected, that results in a life expectancy of 6 months or less.)
     

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

     

    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.

  • By whom is this plan underwritten?

    This plan is underwritten by ReliaStar Life Insurance Company, under Group Policy No. 66716-1. Policy Form LP08GP.

  • Will I meet with a salesperson?

    Issuance of this coverage is handled over the Internet and the mail. You can review the materials in the privacy of your home and apply for your insurance without meeting with a salesperson. You can, of course, contact our knowledgeable Customer Service Representative, who is a licensed insurance producer, who will gladly assist with your questions. Please view the Contacts section for the Program Administrator’s toll-free number.
  • How much insurance can I apply for?

    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.)

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

    No! There are no physicals required. Your approval of coverage is based on your satisfactory answers to the insurer to the four questions on the application.

  • When does the coverage end?

    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. Coverage reduces to 50% at age 75; to 25% of original face amount at age 80; at age 85, to a maximum of $2,500. 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.
  • When is the coverage effective?

    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.
  • Are there any 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.

  • What if I have second thoughts after I apply?

    When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the Plan. 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!

Mercer's Role & Compensation

Details of Mercer disclosure of the compensation.