Term-to-Age-70 Life Insurance

We know protecting your family is important to you. What better choice than to protect them with Union Labor Life’s Group Term to Age 70 Life Insurance Plan. You can give your family up to $200,000.00 of term life insurance protection at union group rates and because rates are based on your age when you apply, your rate will not be lower than it is right now!

BENEFITS AND FEATURES

1. Members and their spouses are eligible for group rates: : Your Union membership entitles you to apply for up to $200,000.00 of life insurance at rates not available from Union Labor Life to the general public. As a rule, rates are typically lower than those you can get on your own. That’s because the collective buying power of over 2 million Teamsters’ members allows you to take advantage of our group rates.

2. Coverage available to age 70: Premiums increase for each new 5-year age bracket, up to age 69. Rates will be based on your age at that time.

3. Rates will not increase individually: You and your spouse cannot be singled out for a rate increase. Rates change only if they are changed for everyone insured under the Group Master Policy. Your coverage will continue as long as premiums are paid as agreed and the Group Master Policy is in force.

4. No medical exam is required in most cases for members under age 55 who choose benefit amounts of $100,000.00 or less. Acceptance is generally based on your answers to a few health questions on your application. In cases where a medical exam is required, it will be done at no cost to you and at a time and place that you choose.

5. Premium waived during Strike and Lockout. Even for an Involuntary Lay-off: Your premiums are waived for 3 consecutive months, once in any period of 12 consecutive months following the start of any union-sanctioned strike or lockout or involuntary lay-off (not available in all states). That’s an extremely important feature given today’s unpredictable job market.

6. Insure all your eligible children:² No matter how many children you have, you may include them under your coverage.  All unmarried children at least 14 days old and under 21 years old are eligible for coverage.

• $500.00 of coverage is available for children between 14 days old and under 6 months old.
• $2,000.00 of coverage for children 6 months old and under 21 years old.
  
  • At age 21, a covered dependent child may continue coverage if enrolled as a full time student at an accredited school, college or university.
    

7. Collect for terminal illness or organ transplant: You can access accelerated death benefits while you are still alive. If you are diagnosed with a terminal illness and meet certain conditions, you can collect up to 100% of your insurance benefit. Or, if you require a heart, lung or liver transplant, you can choose to receive up to 50% of your insurance benefit (not available in all states). If you choose any of these options, the amount you receive will be reduced by certain fees and the benefit you receive may be taxable^¹. Of course, your beneficiary will be paid only the remaining life insurance benefits, if any, upon your death.

8. Your Right to Review: Upon acceptance, you will receive your Certificate of Insurance. If after your review it, you decide you don't want the coverage, you have 30 days from the Effective Date to return the Certificate for a full refund and you'll be under no further obligation.

¹Fees vary by state. It's important that you read your certificate to determine what fees may apply to you. You should consult a tax advisor for specific information.
^{2 Provisions may vary by state.  Please contact us at1-866-863-4462 for more information.}

EXCLUSIONS

SUICIDE: Suicide is not covered in the first two years of the coverage. In Colorado, Missouri and North Dakota, suicide is not covered in the first year of coverage. In cases of suicide, benefits are limited to a return of premiums paid without interest. In cases of suicide, benefits are limited to a return of premiums paid without interest.

This is a simplified Description of Benefits. This is not an Insurance Policy or Certificate. Benefits are administered according to the provisions of the Group Master Policy and premiums are charged according to the filed and approved rates. The information contained in this explanation is representative only, and in all cases reference to the Insured’s Certificate of Coverage is required. Some provisions, benefits, exclusions or limitations listed herein may vary depending on state of residence.

Misrepresentations on your application or changes in your health between the time you apply and the certificate effective date may affect your eligibility for benefits.