Level Term Life Insurance Protection
Underwritten by ReliaStar Life Insurance Company,
a member of the ING family of companies
Lock In Solid Benefits for a Full 10 or 20 Years
MONEY-SAVING GROUP RATES PAIRED WITH SIGNIFICANT MEMBER ADVANTAGES
With benefits ranging from $200,000 to $1 million (in increments of $50,000), you can help build a strong financial safety net for your family with the Association endorsed Group 10-Year and 20-Year Level Life Insurance Plan. Plus, you can apply for spouse coverage up to an amount equal to yours. Rates are designed to remain level during the first 10 or 20 years of the policy*.
The CPhA Sponsored Term Life Insurance program provides you with:
- Benefit choices up to $1,000,000
- Optional coverage for your spouse and dependent children
- Future Purchase Option – If you are approved for this option, you may receive a 10% increase of the initial face amount at each of the first five policy anniversaries beginning with the first anniversary and ending on the fifth anniversary as long as you accept each annual increase.
- Your employees may also apply for up to $500,000
Choice of Benefit Amounts
You can qualify for coverage from $200,000 to $1,000,000 in $50,000 increments. You choose the coverage that’s right for you. As your needs change, you have the flexibility to apply for a change in your coverage. The maximum issue amount for spouses is $1,000,000; for children is $10,000 and for employees of members is $500,000.
Who Can Apply
If you are an active CPhA member, spouse of a member, or a full-time employee of a member, and are under age 60, you can apply for this coverage. If you participate in this program, your spouse and your unmarried dependent children (at least 15 days old and under age 19 or under age 23, if a full-time student) can also be covered.
Underwriting Your Application
Acceptance into this plan is subject to medical evidence of insurability as approved by ReliaStar Life. Depending on your age, the amount of coverage you request, and your answers on the application, a medical examination, medical test(s), or other evidence of good health may be required. Any exams/tests requested by the insurance company will be conducted at your convenience and at no expense to you.
Conversion Privilege With No Medical Exam
You can convert to an individual life insurance policy without a physical examination or evidence of insurability. You must apply for and pay the first premium within 31days after your group insurance stops. You may apply for any amount of coverage up to the amount of coverage that stopped, if you are no longer a CPhA member, employee of a member, a spouse of a member, you attain age 70 or the Group Policy ends. (See your Certificate of Insurance for more details.)
Benefits are not payable for a suicide occurring within two years of the effective date of your initial or increased coverage.
Your coverage will become effective once Mercer has received your application, your coverage has been approved by ReliaStar Life, the first premium payment is paid. If on that date you are not Actively-at-Work or your spouse is not able to carry on all the normal and customary activities of a person of like age and sex in good health, coverage will become effective on the first day of the next month following the date you complete 90 consecutive days of full-time active employment or after your spouse been able to carry on all the normal and customary activities of a person of like age and sex in good health for 90 consecutive days.
Your coverage continues as long as you remain a member of the Association, you pay your premiums, the Master Policy remains in effect, or you reach age 75. Dependents’ coverage ceases when your coverage terminates, premiums are not paid, or they cease to be eligible dependents.
How To Apply and View Rates (See Forms tab for an enrollment kit).
Notice of Insurance Information Practices
Your application is our major source of information. However ReliaStar may also collect or verify information by contacting individuals or organizations that have information or records about you or others to be insured.
If you would like further details, contact ReliaStar.
ReliaStar Life Insurance Company, a member of the ING family of companies. Home Office: Minneapolis, MN.
The information on this website explains the general purpose of the insurance described, but in no way changes or affects the Master Policy as actually issued. In the event of a discrepancy between this brochure and the Master Policy, the terms of the Master Policy apply. All benefits are subject to the terms and conditions of the Master Policy. Policies underwritten by ReliaStar Life Insurance Company detail exclusions, limitations, reduction of benefits and terms under which they may be continued in full or discontinued. Complete details are in the Certificate of Insurance issued to each insured and the Master Policy issued to the policyholder. This program may vary and may not be available to residents of all states.
This is a paid endorsement. The California Pharmacists Association receives a fee from the insurance broker and/or the insurer for its endorsement of this plan.
Policy Form #LPØ8GP
*The initial premium will not change for the first 10 or 20 years unless the insurance company exercises its right to change premium rates for all insureds covered under the group policy with 60 days advance written notice.