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 June 30, 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 June 30, 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 June 30, 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 June 30, 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.
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: ima.service@getamba.com.
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: ima.service@getamba.com 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 ima.service@getamba.com |
| 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! |