September is Life Insurance Awareness Month

Union Plus Term-to-70 Life Insurance plans are available to all active members, associate members, employees and retirees of an adopting union of the policyholder who are: 

• At least age 18 and under age 65; and 
• Legal residents of the United States. 

Spouses/domestic partners are also eligible to apply if they meet the following criteria: 

• At least age 18 and under age 65; 
• Reside in the United States; and  
• Not legally separated or divorced from the eligible person. 

Eligibility Restrictions: 
When an insured person and eligible spouse/domestic partner are both eligible persons, coverage may not be duplicated by applying as dependents of each other.

Many plans require you to re-apply at the end of the plan's term and modify your premium and benefits accordingly. The Union Plus Term-to-70 Life Insurance plan will not change its benefits or underwriting, and you do not have to reapply for coverage.  

At age 70, when the policy terminates, you have the option to convert to the Union Plus Senior Term Life Insurance plan without medical questions or an exam. There's no application and the Senior Term Life plan has no termination age. 

The plan provides a living benefit if you are diagnosed with a terminal illness (life expectancy of 12 months or less). In the event of a terminal illness, you may withdraw up to 75% of your life insurance benefit without penalty. Your beneficiary will receive the remaining benefit upon your death. 

Accelerated benefits may be taxable.  These materials are not intended to provide tax, accounting or legal advice and cannot be relied upon for any such purpose. We recommend that you consult with a qualified tax advisor. 

For Residents of Texas: Accelerated benefits may affect your or your family’s initial or continued eligibility for public assistance, such as medical assistance (Medicaid), Aid to Families with Dependent Children (AFDC), supplementary social security income (SSI), we recommend that you consult with social service agencies with any questions regarding eligibility for public assistance.

For amounts up to and including $200,000, no medical exam required, depending on your answer to the health questions on the application. 

It is a policy that helps provide protection for a specified period of time. Instead of premiums being invested for slow-growing cash value, 100% of what you pay goes toward your coverage. 
 

The premium is the payment you make for an insurance policy. The premium amount is based on your age within a 5-year band at the time you purchase the policy.

If a person commits suicide—while sane or insane—during his or her first two years of coverage under the policy, the policy will only pay an amount equal to the premium paid for coverage to the date of death. 
 

Changes in your health do not cause the policy to be terminated. 
 

Your insurance would be terminated if: you stop paying your premium, you reach age 70 (at this point you can convert to Senior Term Life Insurance), your union notifies Union Plus that you are no longer a member, or the group policy is no longer in effect. 

Insurance for your spouse/domestic partner would be terminated on the earliest to occur of: 

• the date the policy is cancelled; or 
• the premium due date on or next following the date he or she is legally separated or divorced from you; or 
• attains age 70; or 
• the premium due date the required premium is not made, subject to the Grace Period provision; or 
• the date your coverage terminates. 

However, if dependent's coverage would terminate because of your death, coverage will continue until the premium due date on or next following your death unless continued in accordance with the Surviving Spouse Continuation provision.

No, the money can be used at his/her discretion. 
 

Your spouse/domestic partner may choose a different benefit level from you, the union member.

Coverage becomes effective on the first day of the month after your application is approved and the premium is paid. 
 

Yes, insured spouses/domestic partners can continue coverage under Spouse/Domestic Partner Continuation. 
 

If an insured is 1) in a lawful, authorized strike by a union or 2) locked out as a result of a labor dispute between the union and an employer, or experiences an involuntary layoff, the insured doesn't have to pay premiums for up to 3 months on this coverage, subject to a 30-day waiting period. This is a union-member-only benefit. May not be available in all states or in all unions. 
 

The insured must provide written proof of strike, lock-out or involuntary layoff before the waiver of premium begins (i.e. verification from your union). 
 

Yes, members who apply will have various payment options when applying. 
 

Yes. Union Plus Term-to-70 Life Insurance includes a 60-day satisfaction guarantee. 

Upon acceptance into this insurance plan, you'll receive a Certificate of Insurance. You have up to 60 days from the Effective Date to review your Certificate of Insurance without any obligation. If you do not like what you see, simply return the Certificate of Insurance within that timeframe, and any premiums paid will be refunded minus any claims paid. Hassle free.