Group Term Life Plan Provisions

Term Life Plans Come With Terms, Conditions and Options

Basics	Basic and Voluntary Term Life
Case size	Available to groups of 10 or more eligible employees
Rate guarantee period	2 years
Waiver of premium	Included for total disability prior to age 60, with a 9-month elimination period. Waiver terminates at age 65.
Accelerated death benefit	Up to 75% of the combined basic and voluntary term life face amount, not to exceed $250,000
Conversion	Included
Domestic partner coverage	Included (subject to state mandates)
Secure Account	Included

Basics	Basic Term Life (Employer-paid)	Voluntary Term Life (Employee-paid)
Available coverage options	For non-contributory plans, all eligible employees must be enrolled. For contributory plans, the greater of 10 lives or 75% of eligible employees must be enrolled. For dependent life, 75% of eligible dependents must be enrolled.	The greater of 25% or 10 eligible employees must be enrolled
Participation requirements	Flat amount or salary-based	Increment, flat amount or salary-based
Minimum amount	$10,000	$10,000
Maximum amount¹	Maximum benefits range from $250,000 - $1,000,000 based on group size and coverage option	Maximum benefits range from $300,000 - $500,000 based on group size and coverage option
Age reduction	Standard: 35% at age 65; 50% at age 70 Optional: 50% at age 70 Coverage terminates at retirement	Standard: 35% at age 65; 50% at age 70. Reduction matches basic life reduction, if quoted with basic life. Coverage terminates at retirement.
Accidental Death & Dismemberment (AD&D)	Included (benefit amounts match life)	Available (benefit amounts match life). Employee must enroll for life to be eligible for AD&D.
Additional AD&D benefits	All case sizes: Seatbelt, airbag, repatriation and child education 100+ lives, additional riders: Coma and common carrier	All case sizes: Seatbelt,/ airbag, repatriation and child education 100+ lives, additional riders: Coma and common carrier
Dependent life coverage options(Spouse/Child)	$20,000 / $10,000 OR $15,000 / $7500 OR $10,000 / $5000 OR $5000 / $2500 OR $2500 / $1000 OR $2000 / $1000 Employee must enroll for dependents to be eligible. Dependent coverage is limited to 50% of the employee's term life amount. Spouse coverage terminates at age 70.	Minimum benefit is $5000. Spouse maximum up to $250,000. Child maximum up to $25,000. Employee must enroll in order for dependents to be eligible. Dependent coverage is limited to 50% of the employee's term life account. Spouse coverage terminates at age 70.
Dependent life guarantee issue	All amounts are guaranteed issue	Up to: $30,000 spouse coverage based on case size, Up to $25,000 child, based on case size

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