You certainly understand the importance of having sufficient life insurance. Now, you have an opportunity to make sure that you have the amount of coverage needed. Your loved ones will appreciate the peace of mind this Plan provides, with benefits up to $1,000,000 that will let them go on with their lives with fewer financial concerns.
You may apply for $20,000 to $1,000,000 in Group Annual Term Life insurance coverage (in $5,000 increments). Coverage continues as long as you pay your premium when due and the Group Policy remains in force. Coverage terminates at age 80.
All IMA members under age 70 may apply for coverage for themselves, their spouse under age 70 and all unmarried dependent children ages 15 days to under age 26. Member must be actively at work (at least 20 hours per week) and dependents must be able to carry on all the normal and customary activities of a person of like age and sex. A dependent who is also a member may apply for either member or dependent coverage, but not both. If both member and spouse are covered as members, neither may insure the other as spouse and only one may insure any eligible children.
A money-saving feature of the IMA Group Term Life Insurance Plan is the opportunity to receive a premium discount, due to the good claim experience of the plan. Currently your contributions include a 10% premium discount that is guaranteed until December 31, 2025. (Rate credits are not guaranteed but depend on group experience.)
Option 1: $5,000 of coverage is available at $0.95 semi-annually (with a 10% premium credit it's $0.85)
Option 2: $10,000 of coverage is available at $1.90 semi-annually (with a 10% premium credit it's $1.71)
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 80% of your in force life insurance up to $500,000 to be paid while the terminally ill person is still alive. The amount of insurance payable after death will be reduced by this payment.
The Member and Spouse can elect the same level of Accidental Death & Dismemberment (AD&D) coverage as for Life Insurance coverage. In addition, if you are seriously injured in a covered accident and sustain loss of limb, eyesight or other injuries, a partial benefit may be payable. AD&D semi-annual costs are $0.60/$5,000 if under age 65 and $0.90/$5,000 age 65 through 80. Rates shown are guaranteed until December 31, 2025.
The Member pays no premiums if he/she becomes totally disabled, as defined in the certificate. Your life insurance coverage will continue at no cost to you if you become continuously totally disabled for at least 6 months and if your disability occurs before age 60.
Group Annual Term Semi-Annual Premium Rates per $5,000
Rates guaranteed until December 31, 2025
MEMBER |
SPOUSE |
|||
Member Age |
Regular Rate |
With 10% Premium Credit |
Regular Rate |
With 10% Premium Credit |
Under 30 |
1.11 |
0.99 |
0.66 |
0.59 |
30-34 |
1.59 |
1.43 |
0.99 |
0.89 |
35-39 |
2.25 |
2.02 |
1.29 |
1.16 |
40-44 |
4.86 |
4.37 |
2.91 |
2.61 |
45-49 |
6.39 |
5.75 |
3.84 |
3.45 |
50-54 |
14.10 |
12.69 |
8.46 |
7.61 |
55-59 |
21.75 |
19.57 |
12.99 |
11.69 |
60-64 |
32.76 |
29.48 |
19.59 |
17.63 |
65-69 |
59.76 |
53.78 |
53.76 |
48.38 |
70-74* |
74.40 |
66.96 |
73.41 |
66.06 |
75-79* |
64.05 |
57.64 |
63.36 |
57.02 |
*Member and Spouse coverage reduces to 80% at age 70 and to 55% of original face amount at age 75. Coverage terminates at age 80.
Rates shown include a 10% premium discount guaranteed until December 31, 2025. (Rate credits are not guaranteed but dependent on group experience).
Premiums are based on your age and will increase as you enter a new age bracket. Premiums will only be increased if premiums are increased for all insureds in the same age and rate class3. Coverage will become effective the 1st day of the month after the application is approved by MetLife. To obtain a rate quote for other ages, benefit amounts, or for information on the Group Annual Term Life Plan, call toll-free 1-800-448-3436.
Will Preparation Services4
Offers you and your spouse/domestic partner unlimited face-to-face or telephone meetings with an attorney, from MetLife Legal Plans’ network of over 18,500 participating attorneys, to prepare or update a will, living will, and Power of Attorney.
Estate Resolution Services4
Estate representatives and beneficiaries may receive unlimited face-to-face legal assistance with probating your and your spouse/domestic partner’s estate. Beneficiaries can also consult an attorney, from MetLife Legal Plans’ network of over 18,500 participating attorneys, for general questions about the probate process.
Grief Counseling5
Provides you and your dependents up to five private counseling sessions with a professional grief counselor — per event — to help cope with a loss, no matter the circumstances, whether it’s a death, an illness or divorce. Sessions may also be held over the phone.
Funeral Planning Assistance5
Services designed to simplify the funeral planning process for your loved ones and beneficiaries to assist them with organizing an event that will honor a loved one’s life from a self-paced funeral planning guide to services such as locating funeral homes, florists and local support groups.
Is a medical exam required?
You must complete a standard application. When you apply, simply answer the health questions. Even if you have a health condition, you may still qualify. Depending on the amount applied for, a paramedical exam and blood test may be required, which will be scheduled at your convenience and at no cost to you.
Will this ART life insurance plan pay in addition to other coverage?
Yes. The annual renewable term plan pays in addition to any other insurance coverage you have. The plan also stays with you until your coverage ends — even if you change jobs. If also electing coverage under the level term life insurance plans, a combined maximum benefit amount of $1,000,000 between the level term life insurance plans and the annual renewable term life insurance will apply.
How long can my coverage continue?
Your coverage can continue as long as you pay your premium when due, have not reached age 80, remain in an eligible class, the insurance continues for your class, and the group policy remains in force. Please see the certificate of insurance for details.
Would I have the ability to continue coverage, should my plan end?
Yes, in many instances. If your insurance ends for a reason other than non-payment of your premiums, you may be able to convert your coverage into an individual life insurance policy from Metropolitan Life Insurance Company or an affiliate without providing evidence of insurability. Please see the certificate of insurance for details, including eligibility for conversion and amount of coverage that may be converted.
When Coverage Ends
Your insurance will end on the earliest of the following: the date the Group Policy ends; the date insurance ends for Your class; the date You cease to be in an eligible class; the end of the period for which the last premium has been paid for You; the premium due date coincident with or next following the date You attain age 80.
Are there any exclusions to my coverage?
Yes. Benefits will not be paid if the member’s or dependent’s death occurs from suicide within 2 years of the effective date of their insurance or increase in insurance starts. The AD&D and Accelerated Life benefits are subject to additional exclusions. Please see your certificate for details.
Convenient Payment Options
You will automatically be billed on a semiannual basis. However, there are other payment options available. You can choose from quarterly direct billing, annual direct billing or automatic monthly check withdrawal. If you would like to change your payment method, please contact the program administrator at 1-800-448-3436.
1. The Accelerated Benefits Option is subject to state regulation and is intended to qualify for favorable federal income tax treatment, in which case the benefits will not be subject to federal income taxation. This information was written as a supplement to the marketing of life insurance products. Tax laws relating to accelerated benefits are complex and limitations may apply. You are advised to consult with and rely on an independent tax advisor about your own particular circumstances. Receipt of accelerated benefits may affect your eligibility, or that of your spouse or your family, for public assistance programs such as medical assistance (Medicaid), Temporary Assistance to Needy Families (TANF), Supplementary Social Security Income (SSI) and drug assistance programs. You are advised to consult with social service agencies concerning the effect that receipt of accelerated benefits will have on public assistance eligibility for you, your spouse or your family.
2. AD&D insurance does not include payment for certain losses as described in more detail in your certificate. Specific information pertaining to your insurance can be obtained by contacting the IMA Insurance Administrator at 1-800-448-3436.
3. The group contract provides MetLife with the right to adjust the rates and/or the rate guarantee period should overall group participation change significantly.
4. Will Preparation and MetLife Estate Resolution Services are offered by MetLife Legal Plans, Inc., Cleveland, Ohio. In certain states, legal services benefits are provided through insurance coverage underwritten by Metropolitan General Insurance Company, Warwick, Rhode Island. Tax Planning and preparation of Living Trusts are not covered by the Will Preparation Service. Certain services are not covered by Estate Resolution Services, including matters in which there is a conflict of interest between the executor and any beneficiary or heir and the estate; any disputes with the group policyholder, MetLife and/or any of its affiliates; any disputes involving statutory benefits; will contests or litigation outside probate court; appeals; court costs, filing fees, recording fees, transcripts, witness fees, expenses to a third party, judgments or fines; and frivolous or unethical matters.
5. Grief Counseling and Funeral Assistance services are provided through an agreement with TELUS Health. TELUS Health is not an affiliate of MetLife, and the services TELUS Health provides are separate and apart from the insurance provided by MetLife. TELUS Health has a nationwide network of over 30,000 counselors. Counselors have master’s or doctoral degrees and are licensed professionals. The Grief Counseling program does not provide support for issues such as: domestic issues, parenting issues, or marital/relationship issues (other than a finalized divorce). For such issues, members should inquire with their human resources department about available company resources. This program is available to insureds, their dependents and beneficiaries who have received a serious medical diagnosis or suffered a loss. Events that may result in a loss are not covered under this program unless and until such loss has occurred. Services are not available in all jurisdictions and are subject to regulatory approval. Not available on all policy forms.
All applications for coverage are subject to review and approval by MetLife. If you choose to apply for increased coverage, the increase may be subject to underwriting. MetLife will review your information and evaluate your request for coverage based upon your answers to the health questions, MetLife’s underwriting rules and other information you authorize us to review. In certain cases, MetLife may request additional information to evaluate your request for coverage. Coverage will be effective in accordance with the applicable policy and certificate after approval by MetLife.
Coverage may not be available in all states. For more information, please contact your plan administrator AMBA, at 1-800-448-3436 or by email at: [email protected].
This summary provides an overview of your plan’s benefits. These benefits are subject to the terms and conditions of the contract between MetLife and your Plan Sponsor and are subject to each state’s laws and availability. Specific details regarding these provisions can be found in the booklet certificate. Life and AD&D coverages are provided under a group insurance policy issued to your plan sponsor by MetLife.
Life and AD&D coverages under your plan terminate when your Life and AD&D contributions cease, or upon termination of the group insurance policy. Dependent Life coverage will terminate when a dependent no longer qualifies as a dependent or when a dependent spouse reaches age 80. Should your life insurance coverage terminate, for reasons other than non-payment of premium, you may convert it to a MetLife individual permanent policy without providing medical evidence of insurability.
All insurance and insurance effective dates are subject to final underwriting approval.
Like most insurance policies, insurance policies offered by MetLife and its affiliates contain certain exclusions, exceptions, reductions, limitations, waiting periods and terms for keeping them in force. Please contact your plan administrator AMBA, at 1-800-448-3436 or by email at: [email protected] for costs and complete details.
This is a paid endorsement. The IMA receives a fee from the insurance broker and/or the insurer for its endorsement of this plan.
MetLife and the M logo are registered marks of Metropolitan Life Insurance Company.
We're here to help! Please contact us in whatever manner is most convenient for you.
| Address AMBA 4050 114th Street Urbandale, Iowa 50322 |
|---|
| Phone 1-800-448-3436 |
| Hours M-F 7:30a-4:30p CT |
| Email [email protected] |
| Application Mailing Address IMA Group Insurance Program PO BOX 14533 DES MOINES, IA 50306 |
| Underwriting Company Metropolitan Life Insurance Company 200 Park Avenue New York, NY 10166 |
30-DAY FREE LOOK |
| If you're not completely satisfied with the terms of your Certificate of Insurance, you may return it, without claim, within 30 days. Your coverage will be invalidated, and you will be sent a full refund, no questions asked! |