Group Annual Term Life Insurance

Group Annual Term Life Insurance  

Overview

Your Family's Passport to Financial Security

Life insurance can be one of the cornerstones of financial planning. In the event of an unexpected or premature death, the HSBA Group Annual Term Life Insurance Plan can help provide the financial security your family needs. This life insurance helps make sure they’ll be able to meet current expenses—such as mortgage and car payments—as well as future expenses such as college tuition.

 

Valuable Benefits

  • Up to $1,000,000 of Member/Employee and Spouse Coverage
    (Note: spouse coverage may not exceed 100 percent of member coverage.)
  • Affordable Rates
    The premiums for the HSBA Group Annual Term Life Insurance Plan are competitive. You may be surprised at how much insurance you can afford.
  • Premiums Can Be Waived If You’re Disabled
  • Living Benefit Option ("Accelerated Life Benefit")
    Enables you to apply for a portion of your benefits if you qualify as being terminally ill, subject to certain policy restrictions and limitations. These benefits are paid directly to you, and you may spend them any way you wish.

 

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.

 

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.

Forms

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

Tell me More

ELIGIBILITY
All HSBA members/employees under age 60 may apply for coverage for themselves, their spouse age 60 or under and all unmarried dependent children ages 14 days to 21 years (25 if a full-time student).

A dependent who is also a member/employee is eligible for either member/employee or dependent coverage, but not both. If both member/employee and spouses are covered as members/employees, neither may insure the other as spouse and only one may insure any eligible children.

Coverage of $5,000 or $10,000 is available for your children at a monthly rate of $1.00 or $2.00 respectively. One premium covers all eligible children.

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

APPLY FOR UP TO $1,000,000 OF COVERAGE
Choose the amount of Group Annual Term Life insurance you need to help protect you and your family.
Amounts Of Insurance:
Members/Employees
– $25,000 to $1,000,000 in $25,000 increments.
Spouse – $25,000 to $1,000,000 in $25,000 increments. (Note: spouse coverage may not exceed 100 percent of member/employee coverage.)

PLAN FEATURES

Accelerated Life Benefit
This important plan option gives you the ability to collect part of your HSBA Group Annual Term Life benefits before your death if you are diagnosed with a terminal illness. If your doctor diagnoses you with a life expectancy of six months or less, you can collect 50 percent of your benefits (or $100,000, whichever is less) 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 six months or less.)

You must have at least $10,000 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.

Waiver of Premium
If you become totally disabled, as defined in the certificate, for 6 months or longer before age 60, your coverage and benefits will continue at no cost to you – for as long as you’re disabled or until you reach age 75 (members/spouses) or until the date of your retirement (employees) – whichever is first.

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 with 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
Member/Spouse/Employee of Member
Group Annual Term Monthly Rates Per $1,000  

 

Non-Tobacco

Tobacco


Age

 

$25,000 - $125,000

$150,000-$1,000,000

$25,000 - $125,000

$150,000-$1,000,000

Under 30

0.06

0.07

0.08

0.08

30-34

0.10

0.09

0.10

0.09

35-39

0.13

0.12

0.14

0.13

40-44

0.18

0.19

0.23

0.21

45-49

0.30

0.29

0.39

0.35

50-54

0.48

0.50

0.67

0.60

55-59

0.75

0.80

1.10

1.06

60-64*

1.16

1.16

1.49

1.34

65-69*

2.12

1.91

2.42

2.18

70-74*

2.75

2.48

3.62

3.26


Rates guaranteed until December 31, 2019

*For renewal purposes only
Coverage reduces to 50% at age 70.
Member and Spouse coverage terminates at age 75.
Employee of Member coverage terminates at retirement.

 

Dependent Child(ren) Coverage: Monthly for $5,000 = $1.00; $10,000 = $2.00
 

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.

Acceptance into this plan is subject to medical evidence of insurability as determined by ReliaStar Life. Depending on your age, amount of coverage you request and your answers on the application, a medical examination, medical test(s) or other evidence of good health may be required. Any exams/tests requested by the company will be conducted at your convenience at no expense to you.

Coverage of $5,000 or $10,000 is available for your children at a monthly rate of $1.00 or $2.00, respectively. One premium covers all eligible children.

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
The Member's/Employee's/Spouse's 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 HSBA, pay your premium when due, and the group policy remains in force, you can keep your coverage until age 75. 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.
  • For members and spouses, the last day of the month on or after your 75th birthday.
  • For employees, the last day of the month during which you were last actively at work for a member of the Policyholder.
  • The date the Group Policy stops.
  • The end of the period for which you paid premiums, if you do not make the next required premium contribution when due.
  • For Accelerated Life Benefit, the date your Life Insurance stops.

 

Renewal Payments And Claims
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 summarizing 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/employees and spouses must complete an application form for any new coverage or to increase coverage (including dependent coverage). 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. Your HSBA Group Annual 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.

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

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 CT
 Email
customerservice.service@mercer.com

FAQs

  • Who is eligible for this insurance?

    All HSBA members/employees under age 60 may apply for coverage for themselves, their spouse age 60 or under and all unmarried dependent children ages 14 days to 21 years (25 if a full-time student).
     

    A dependent who is also a member/employee is eligible for either member/employee or dependent coverage, but not both. If both member/employee and spouses are covered as members/employees, neither may insure the other as spouse and only one may insure any eligible children.
     

    Coverage of $5,000 or $10,000 is available for your children at a monthly rate of $1.00 or $2.00 respectively. One premium covers all eligible children.
     

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

    Rates shown are guaranteed until December 31, 2019.

  • 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.
  • By whom is this plan underwritten?

    This plan is underwritten by ReliaStar Life Insurance Company, under Group  No. 66716–1. Policy Form LP08GP.
  • How does the Accelerated Life Benefit work?

    The Accelerated Life Benefit option is available to help terminally ill insureds during a difficult and often financially challenging time. Under this benefit you may request an advance payment up to 50 percent of your life insurance benefits (or $100,000, whichever is less) 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 $10,000 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.

  • When is the coverage effective?

    The member’s/employee’s/spouse’s insurance starts on the first day of the month on or after 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.
  • How much insurance can I apply for?

    Members/Employees–$25,000 to $1,000,000 in $25,000 increments. 
    Spouse–$25,000 to $1,000,000 in $25,000 increments. (not to exceed member/employee amount)
    Children–$5,000 or $10,000

     

  • 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.
  • When does the coverage end?

    As long as you remain an active member of HSBA, pay your premium when due, and the group policy remains in force, you can keep your coverage until age 75. 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.
    • For members and spouses, the last day of the month on or after your 75th birthday.
    • For employees, the last day of the month during which you were last actively at work for a member of the Policyholder.
    • The date the Group Policy stops.
    • The end of the period for which you paid premiums, if you do not make the next required premium contribution when due.
    • For Accelerated Life Benefit, the date your Life Insurance stops.
  • 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.