An important part of planning for a more secure future is making sure your family will be well taken care of. Group term life insurance.
This plan can help your loved ones in the event of your death:
by helping to ensure your spouse/domestic partner is better financially prepared for retirement
by providing funds that can be used for medical or final expenses
Coverage is available to both you and your spouse/domestic partner.
50-Plus Group Term Life Insurance – as a member, you are able to purchase this coverage at affordable group rates. And you'll find the rates under this plan are likely lower than comparable coverage purchased individually.
UP TO $20,000 IN TERM LIFE INSURANCE COVERAGE
With 50-Plus, if you are age 50 to 64, you are eligible for up to $20,000 of life insurance coverage. If you are between ages 65 and 74, you can get $10,000 of coverage.
RENEWABLE TO AGE 90
Coverage for both you and your spouse/domestic partner is renewable to age 90 at the premium rates current for your age and class of risk at that time.
20 yr term life insurance
YOUR SPOUSE/DOMESTIC PARTNER QUALIFIES
As an NASW member you may enroll your spouse/domestic partner in the 50-Plus Plan for up to $20,000 in Term Life Insurance, as long as your spouse/domestic partner is between the ages of 50 and 74, and resides in the U.S. Spouses aged 50 to 64 may enroll for up to $20,000 and spouses between 65 and 74 may enroll for up to $10,000 in coverage.
YOU SELECT YOUR BENEFICIARY
You may name any beneficiary you want, and can change the beneficiary at any time (unless you name an irrevocable beneficiary).
You will find that the rates under this plan are likely lower than comparable individual plans: that's because these rates have been specially negotiated for NASW members like you.
If you are age 50 to 64, you have an option of $20,000 or $10,000 of life insurance coverage. If you are between ages 65 and 74, you can request $10,000 of coverage. The $20,000 option is only available if you are 50-64.
EFFECTIVE DATE OF COVERAGE
Coverage will be effective on the first day of the month following receipt of your enrollment form and paid premium.
If your life insurance coverage under the policy ends for any reason (except non-payment of premium), you and your spouse/domestic partner may have the right to convert your coverage to an individual policy without having to provide evidence of insurability. You may convert the full amount of coverage you have. However, if your coverage is ending because the overall policy or your eligible class is terminated, you must have been insured under this policy for at least 5 years to be eligible to convert coverage. Under this situation, there are also limits to how much coverage you can convert - please refer to your certificate for details.
Once your enrollment form is approved, you and your spouse's policy is renewable to age 90. Your coverage will continue as long as premiums are paid when due, you remain in a class eligible for coverage, and the policy remains in effect. With respect to your spouse, your spouse's coverage will remain in effect as long as your coverage is active, premiums are paid and they meet the eligibility requirements. If you die while your spouse is covered under the policy, your surviving spouse may continue his or her coverage.
GRADED DEATH BENEFIT
In the event of your death, this plan will pay the benefit amount due to your designated beneficiary in accordance with the proof of loss provision outlined in your certificate. If death is a result of an Injury, the full benefit amount will be paid. However, during the first 2 years of coverage under the policy, if death is a result of a sickness, the benefit amount payable is limited to the premiums you have paid for coverage to date, plus interest (using an annual interest rate of at least the insurer's corporate interest rate).
If you (or your spouse/domestic partner) commit suicide while sane or insane during the first two years of coverage, the policy will only pay an amount equal to the premium you have paid up until the date of death. In addition, if you commit suicide within two years of an increase in coverage, the policy will pay the amount you had in force prior to the increase, plus any premiums you have paid since then.
NASW has arranged for this group life insurance plan through Hartford Life and Accident Insurance Company.
Injury means bodily injury resulting:1) directly from an accident; and 2) independently of all other causes; which occurs while you are covered under The Policy.
The product page explains the general purpose of the insurance described, but in no way changes or affects the Master Policy AGL-1909 as actually issued. In the event of a discrepancy between this product page and the policy, the terms of the policy apply. All benefits are subject to the terms and conditions of the policy. Policies underwritten by Hartford Life and Accident Insurance Company detail exclusions, limitations, reduction of benefits and terms under which the policies may be continued in full or discontinued. Complete details are in the Certificate of Insurance issued to each insured individual and the Master Policy issued to the policyholder. This program may vary and may not be available to residents of all states.
For New York Residents: since coverage is issued without medical underwriting, the premium rate being charged includes an extra mortality risk charge.
NASW Assurance Services
Cheap life insurance uk
Group Insurance Program Administrators
P.O. Box 26450, Phoenix, AZ 85068
Hartford Life and Accident Insurance Company
The Hartford® is The Hartford Financial Services Group, Inc., and its subsidiaries, including issuing company Hartford Life and Accident Insurance Company.
AGIA is the Plan Administrator that administers the insurance plan on behalf of the Hartford Life and Accident Insurance Company for the benefit of the Group Policyholder. NASW Assurance Services, Inc is compensated for the placement of insurance and for the services it provides to customers on behalf of the insurance company, in addition to other compensation it may receive. This is a participating group policy under which dividends and/or experience credits may be paid to NASW Assurance Services, Inc. Compensation is paid to or retained by the Group Policyholder NASW Assurance Services, Inc. and NASW for services associated with this insurance program.