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Frequently Asked Questions
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5.
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Q.
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Does the Trust offer a Term Life Insurance Plan for my agency?
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A.
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Yes, the Trust offers three Group Term Life insurance plans.
- The Basic Group Term Life Plan is available to members and their employees. All eligible employees must participate and the employer must pay 100% of the premium. Eligible members and employees will be insured for a level benefit based on their occupation classification as follows:
- - $50,000 for Owners, Partners, Officers
- and Agency Managers
- - $30,000 for Agents, Brokers and Licensed Employees
- - $20,000 for all other positions
Medical underwriting is not required for eligible applicants enrolling in the Basic Term Life Plan.
- Under the Voluntary Term Life Plan, members and employees may purchase Group Term Life Insurance in amounts up to $300,000. Participation in the Basic Group Term Life Plan is not required. This plan is medically underwritten.
- The Dependent Life Insurance Plan is available for members and employees to insure their spouse (up to $100,000) and children in the amount of $3,000. The member/employee must be insured in the Life plan to apply for Dependent coverage.
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