Valuable Benefits:
Member and Spouse/Domestic Partner Coverage
MNCPA members age 50 through 74 who reside in the United States are eligible to apply for this coverage as long as they are able to perform the daily living activities of a person of like age and sex. A member’s spouse/domestic partner residing in the United States who is between the ages of 45 through 75 may also apply for coverage as long as they are able to perform the daily living activities of a person of like age and sex.
Note: You don’t have to apply for coverage in order for your spouse/domestic partner to apply for life insurance
No Medical Exam Required
You are not required to take a physical or medical exam to be approved for this coverage. All it takes is satisfactorily answering to the insurer the questions on the application.
Choice of Benefit Amounts
You and your spouse/domestic partner can select a life insurance amount of $10,000 to $50,000 (in increments of $5,000).
Living Benefit Included (Accelerated Life Benefit)
You can receive up to 50% of your life insurance amount you select if you are diagnosed as terminally ill with a life expectancy of six months or less. You must have at least $5,000 in life insurance coverage in force to qualify and be under age 75. Your beneficiary will receive the remainder of your life insurance benefit after your death.
Note: Receipt of the accelerated benefit may be taxable, or may adversely affect your eligibility for Medicaid or other government benefits. You should consult your personal tax advisor to assess the impact of this benefit.
MNCPA Group Senior Term Life Insurance Plan Money-Saving Monthly Group Rates:
Attained Age– |
$10,000 |
$25,000 |
$50,000 |
|||
|
Male |
Female |
Male |
Female |
Male |
Female |
45–49* |
$6.70 |
$4.60 |
$16.75 |
$11.50 |
$33.50 |
$23.00 |
50–54 |
9.22 |
5.18 |
23.05 |
12.96 |
46.10 |
25.91 |
55–59 |
13.78 |
7.86 |
34.46 |
19.66 |
68.91 |
39.32 |
60–64 |
20.00 |
13.20 |
50.00 |
33.00 |
100.00 |
66.00 |
65-69 |
30.93 |
22.35 |
77.32 |
55.87 |
154.64 |
111.30 |
70–74 |
43.14 |
33.82 |
107.84 |
84.55 |
215.68 |
169.11 |
For rates and coverage amounts not listed, contact the Plan administrator.
Rates shown are guaranteed until June 30, 2024.
*MNCPA members’ spouses/domestic partners can apply for coverage starting at age 45 (through age 74). MNCPA members can apply for coverage starting at age 50 (through age 74).
For your convenience, you will be billed just four times a year. Coverage begins on the first day of the month following approval by ReliaStar Life and payment of the first premium. Coverage continues with no decrease in benefits until you reach age 75. At age 75, benefits reduce to 50%. At age 80, benefits reduce to 25%. At age 85 and after, benefits will be a maximum of $2,500.00. Coverage cannot be canceled as long as you remain a Member of the Minnesota Society of Certified Public Accountants, pay your premiums when due and the group policy remains in effect.
Satisfaction Guaranteed: You may return your Certificate of Insurance within 30 days if you are not completely satisfied with the coverage this plan provides. Any premiums paid will be fully refunded, provided no claims have been submitted or paid under the group policy during that 30 day period.
Exclusions: The only exclusion is if you commit suicide, while sane or insane, within two years of the date your insurance or increase in insurance starts. The Accelerated Life Benefit is subject to additional exclusions.
Effective Date: Coverage will become effective on the first day of the month on or after the later of the following dates: ReliaStar Life approves your proof of good health; your premium is received; you become eligible for insurance; or you apply for insurance, if proof of good health if not required.
When Coverage Ends: Your insurance stops on the earliest of the following: the last day of the month during which you are not no longer eligible for insurance under the group policy; the date the group policy stops; or the end of period for which you paid premiums, if you do not make the next required premium contributions when due.
| Address AMBA 4050 114th Street Urbandale, Iowa 50322 |
|---|
| Phone 1-800-732-8350 |
| Hours M-F 7:30a-5p CT |
| Email [email protected] |
Insurance Company:
| ReliaStar Life Insurance Company Minneapolis, MN |
|---|
Answers about the program, including eligibility, options, customer service and more.
How long does the application process take?
Do I have to take a medical exam, blood test, etc.?
How can I learn more about this plan?
Can my spouse/domestic partner obtain separate coverage?
Who are the current insurance carriers, and what are their ratings?
Who is AMBA?
What does the term Group mean?
This is a summary of benefits only. A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of coverage. All coverage is subject to the terms of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern.
Coverage is provided under the terms of a group life insurance policy, Group Policy number 64269-0, issued and delivered in the state of Minnesota to the Minnesota Society of Certified Public Accountants as the policyholder. The group life insurance policy is issued by ReliaStar Life Insurance Company, Minneapolis, Minnesota. The group life insurance policy is powered on behalf of ReliaStar Life Insurance Company by Association Member Benefits Advisors, an insurance manager licensed in the state of Minnesota. Policy Form LP08GP.
This is a paid endorsement. MNCPA receives a fee from the insurance broker and/or the insurer for its endorsement of this plan.