Your Family's Passport to Financial Security. Life insurance is one of the cornerstones of financial planning. In the event of your unexpected or premature death, the Group Term Life Plan can provide the financial security your family needs. This life insurance helps make sure they'll be able to meet expenses, such as mortgage and car payments, as well as future expenses such as college tuition.
A high percentage of American adults have life insurance. But just as important as having this insurance is having a coverage amount sufficient for your needs.
Practical Help:
Coverage Options Up to $1,000,000
MSBA members and their spouses/domestic partners can apply for up to $1,000,000 of coverage in $10,000 increments. Eligible dependent children may be insured for $10,000 or $25,000. Children age 14 days but less than 6 months may be insured for $2,000 or $5,000.
Broad Eligibility for You and Your Family
All MSBA members and their spouses/domestic partners who are under age 60 and U.S. residents are eligible to apply for coverage. Unmarried dependent children who are age 14 days to 19 years old (23, if full-time students) also may be covered. NOTE: You do not have to apply for coverage in order for your spouse/domestic partner to apply for this life insurance.
Your Employees May Be Eligible Too
Employees of MSBA members working at least 30 hours a week are eligible to apply for up to $250,000, in $5,000 increments, of this valuable term life insurance.
Group Purchasing Power Equals Savings
MSBA Group Term Life converts the mass purchasing power of your association into an insurance value for you and your family. And your premium won't be individually increased because your health condition changes. It will be increased only when you move into a higher age bracket or if the rates for the entire group increase.
Volume Discounts
Coverages starting at $200,000 and again at $500,000 reflect a discount for volume purchases.
Discounts for Non-Tobacco Users
If you or your spouse/domestic partner have not smoked cigarettes or used tobacco products in any form during the past 12 months, you may take advantage of the lower rates that are available to non-tobacco users!
The MSBA plan provides quality coverage at a reasonable cost. Initial rates are based on the applicant's age. Rates increase when the insured person reaches a higher age bracket.
Semiannual NON-TOBACCO-USER RATES for Member, Spouse or Domestic Partner, and Employee
Age |
$25,000 |
$50,000 |
$100,000 |
$200,000 |
$250,000 |
$500,000 |
$1,000,000 |
Under 35 |
$10.38 |
$20.75 |
$41.50 |
$71.00 |
$88.75 |
$170.00 |
$340.00 |
35-39 |
16.13 |
32.25 |
64.50 |
110.00 |
137.50 |
262.50 |
525.00 |
40-44 |
19.50 |
39.00 |
78.00 |
132.00 |
165.00 |
312.50 |
625.00 |
45-49 |
36.75 |
73.50 |
147.00 |
249.00 |
311.25 |
595.00 |
1,190.00 |
50-54 |
49.25 |
98.50 |
197.00 |
334.00 |
417.50 |
792.50 |
1,585.00 |
55-59 |
82.63 |
165.25 |
330.50 |
562.00 |
702.50 |
1,332.50 |
2,665.00 |
60* |
105.50 |
211.00 |
422.00 |
717.00 |
896.25 |
1,702.50 |
3,405.00 |
61* |
117.00 |
234.00 |
468.00 |
795.00 |
993.75 |
1,890.00 |
3,780.00 |
62* |
134.25 |
268.50 |
537.00 |
912.00 |
1,140.00 |
2,167.50 |
4,335.00 |
63* |
149.13 |
298.25 |
596.50 |
1,014.00 |
1,267.50 |
2,407.50 |
4,815.00 |
64* |
178.88 |
357.75 |
715.50 |
1,217.00 |
1,521.25 |
2,890.00 |
5,780.00 |
65* |
195.00 |
390.00 |
780.00 |
1,326.00 |
1,657.50 |
3,147.50 |
6,295.00 |
Semiannual TOBACCO USER RATES for Member, Spouse or Domestic Partner, and Employee
Age |
$25,000 |
$50,000 |
$100,000 |
$200,000 |
$250,000 |
$500,000 |
$1,000,000 |
Under 35 |
$17.13 |
$34.25 |
$68.50 |
$117.00 |
$146.25 |
$280.00 |
$560.00 |
35-39 |
27.63 |
55.25 |
110.50 |
188.00 |
235.00 |
445.00 |
890.00 |
40-44 |
35.38 |
70.75 |
141.50 |
241.00 |
301.25 |
572.50 |
1,145.00 |
45-49 |
59.63 |
119.25 |
238.50 |
406.00 |
507.50 |
962.50 |
1,925.00 |
50-54 |
104.25 |
208.50 |
417.00 |
708.00 |
885.00 |
1,682.50 |
3,365.00 |
55-59 |
169.75 |
339.50 |
679.00 |
1,154.00 |
1,442.50 |
2,740.00 |
5,480.00 |
60* |
197.38 |
394.75 |
789.50 |
1,343.00 |
1,678.75 |
3,190.00 |
6,380.00 |
61* |
208.88 |
417.75 |
835.50 |
1,421.00 |
1,776.25 |
3,372.50 |
6,745.00 |
62* |
216.88 |
433.75 |
867.50 |
1,475.00 |
1,843.75 |
3,505.00 |
7,010.00 |
63* |
227.13 |
454.25 |
908.50 |
1,545.00 |
1,931.25 |
3,670.00 |
7,340.00 |
64* |
252.38 |
504.75 |
1,009.50 |
1,717.00 |
2,146.25 |
4,080.00 |
8,160.00 |
65* |
259.25 |
518.50 |
1,037.00 |
1,762.00 |
2,202.50 |
4,185.00 |
8,370.00 |
*Rates are for renewal purposes only for those up to age 65.
Rates shown are guaranteed until June 30, 2024.
Contact the policy administrator for additional rates for tobacco users.
Children's semiannual rate: $9.58 for $10,000 of coverage or $24.02 for $25,000 of coverage ($2,000 and $5,000, respectively, for children ages 14 days to 6 months)
The Accidental Death & Dismemberment monthly rate per $1,000 of coverage is $0.03.
At age 70 member benefits are reduced to 50 percent of the original amount or $50,000 (whichever is less). Spouse/domestic partner coverage terminates at age 70.
Premium rates are based on your age and increase as you enter new age brackets. Your age is your age on the group policy anniversary date.
Coverages starting at $200,000 and again at $500,000 reflect a discount for volume purchases.
To calculate your semiannual premium, you may follow the instructions below or let us do the work for you by taking advantage of our automatic Rate Calculator.
NOTE: Employees should perform the same steps to determine their cost of coverage (not to exceed $250,000).
Accelerated Life Benefit Option Lets You Benefit From Your Own Plan
You may use the proceeds received from this benefit for any purpose. This benefit can be of value when a terminal illness creates a need for funds to help pay for medical expenses or nursing care. For example, if you are diagnosed as terminally ill, as defined in the certificate, you can receive up to 50 percent of your insurance amount ($150,000 maximum). You must have at least $20,000 in Life Insurance coverage in force to qualify for this benefit. 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.
Premiums Waived If You Are Disabled
If you become totally disabled (as defined in the certificate) prior to age 60 and remain continuously disabled for six consecutive months, this coverage will remain in effect until age 70 —at no cost—as long as you remain disabled.
Conversion Privileges
When member or employee coverage terminates or reduces, it can be converted to an individual policy within 31 days—without regard to health at that time. This privilege also applies to spouse or domestic partner and child coverage.
Choice of Beneficiary
Benefits will be paid to the person or entity designated by you in writing and on file with the insurance company. You are the beneficiary of children's coverage.
You also may assign ownership of this insurance to another person or entity for tax and estate planning purposes, subject to any terms and limitations contained in the group policy.
Accidental Death & Dismemberment Insurance Option
Group accidental death & dismemberment (AD&D) insurance can be elected up to the same level of death benefit for which you may be applying. MSBA Group Accidental Death & Dismemberment (AD&D) Insurance is an important addition to your benefit plan.
Once you are approved for coverage by the insurer, you will have a 31-day grace period for your payment of renewal premiums. When you want to submit claims, write the Minnesota State Bar Association Administrator for claim forms or call 1-800-501-5776 between 7:30 a.m. and 5 p.m. Central time, Monday through Friday.
Effective Date
Coverage will become effective the date on which coverage is approved by the insurer and your premium is received provided you are actively at work. If you are not actively at work on the scheduled effective date, your insurance will begin on the date you return to work full-time.
Continuation of Coverage
A member's insurance can be renewed as long as he/she remains a member of the MSBA, makes required premiums when due, and the Group Policy remains in force. Spouse or domestic partner coverage terminates at age 70.
At age 70, member coverage will reduce to the lesser of $50,000 or 50 percent of the original coverage amount. Coverage for employees reduces to 65 percent of the original amount at age 65, to 50 percent of original face amount at age 70, and to 30 percent of original face amount at age 75. Coverage terminates when the employee is no longer actively employed by the member.
Children's coverage ends when they cease to be eligible dependents. If employee coverage terminates because employment with an MSBA member ends, work hours reduce, or the employee retires, the benefit will continue up to the earliest of: the date the insured becomes eligible under any Group Policy; the end of the 18-month period following the date the insured's work hours reduced to fewer than required for eligibility; or the date the group contract terminates. Conversion is available when coverage for members, spouses/domestic partners, children, and/or employees terminates.
Renewal Payments and Claims
Once you are approved for coverage by the insurer, you will have a 31-day grace period for your payment of renewal premiums. When you want to submit claims, contact the Minnesota State Bar Association Administrator for claim forms at 1-800-501-5776 between 7:30 a.m. and 5 p.m. Central time, Monday through Friday.
Certificate of Insurance
When you become insured, you will be sent a Certificate of Insurance with complete provisions, limitations and exclusions of your coverage.
Money-Back Guarantee
Your satisfaction is guaranteed. When you receive your Certificate of Insurance, read it carefully. If you're not completely satisfied with the terms of your new insurance, simply return your Certificate, provided no claims have been submitted or paid, within 30 days and your payment will be promptly refunded by AMBA. No questions asked! Your insurance will then be canceled.
How to Apply
Consider Your Eligibility
Before you apply for coverage, you must be a member in good standing of MSBA. You must be a member for 30 days before initiating your insurance requests. If you have any questions about membership, see the MSBA home page.
Questions? We're Only a Phone Call Away
If you have questions about your eligibility, call a service representative toll-free at 1-800-501-5776 between 7:30 a.m. and 5 p.m. Central Time, Monday through Friday. Also see Frequently Asked Questions.
Program Administrator
| Address AMBA Administrators, Inc. CUSTOMER SERVICE PO BOX 14533 DES MOINES, IA 50306 |
|---|
| Phone 1-800-501-5776 |
| Hours M-F 7:30a-5p CT |
| Email [email protected] |
Insurance Company:
| ReliaStar Life Insurance Company Minneapolis, MN |
|---|
Can my spouse/domestic partner obtain separate coverage?
Yes, a spouse or domestic partner can obtain separate coverage.
How long does the application process take? When will my coverage become effective?
The application process depends on many factors: the number of persons to be insured, their ages, the amount of coverage for which you apply, your medical history and that of your family members (if applying for dependent coverage), and the type of coverage applied for.
Do I have to take a medical exam, blood test, etc.?
This depends on the plan you are requesting, your age, the amount of coverage for which you apply, and your individual medical history.
Can coverage continue if I am out of the country?
Call the Administrator for more details as coverage varies depending on the plan.
Who are the current insurance carriers, and what are their ratings?
This varies according to each plan. The Group Insurance Administrator seeks the best opportunities for our members, so the plans are underwritten by different insurance companies. All of the companies enjoy solid ratings by A.M. Best Company, which annually measures the financial strength of insurance companies.
AMBA makes no representations or warranties, expressed or implied, concerning the financial condition or solvency of any insurers. A.M. Best’s Ratings are under continuous review and subject to change and/or affirmation. For the latest Best’s Ratings and Best’s Company Reports (which include Best’s Ratings), visit the A.M. Best website at http://www.ambest.com. See Guide to Best’s Ratings for explanation of use and charges. Best’s Ratings reproduced herein appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of AMBA or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best’s Ratings. Best’s Ratings are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.
Who is AMBA Administrators, Inc., the Administrator of the Program?
AMBA Administrators, Inc. is the company contracted to manage the Group Insurance Program. AMBA is not affiliated with the insurance companies that underwrite each plan.
Who recommends/approves benefit changes or premium changes?
The insurance companies reserve the right to change rates. They usually report "plan experience" (or the number and size of claims made) twice a year and, if applicable, rate change recommendations. Using this information, the Group Insurance Administrator works with MSBA to evaluate the recommendations and decide what, if any, action (i.e. a rate change, a change in benefits, or even a change in insurance companies) is appropriate to maintain each plan's financial stability and competitive status. Actions are subject to MSBA Approval, and insured members are advised of MSBA's decision, prior to implementation.
What does the term Group mean?
These are "group" plans, negotiated especially for MSBA Members and their spouses/domestic partners and employees. This means that you cannot be singled out for a rate increase. Rates, although not guaranteed, can only be changed on a group basis.
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.
Life insurance coverage is provided under the terms of a group life insurance policy, Group Policy 29063-7 issued and delivered in the state of Minnesota, and governed by its laws, to the Minnesota State Bar Association as the policyholder. the group life insurance policy is issued by ReliaStar Life Insurance Company, Minneapolis, Minnesota. The policy is administered on behalf of ReliaStar Life Insurance Company by AMBA Administrators, Inc., an insurance administrator licensed in the state of Minnesota. Policy Form LP08GP.
This is a paid endorsement. The MSBA receives a fee from the insurance broker and/or the insurer for its endorsement of this plan.