For Members of SCLEOA and its Partners
This Interest Sensitive Whole Life program available exclusively through SCLEOA and underwritten by Boston Mutual Life would help fulfill a gap in your benefit package. The plan is a permanent life insurance product that is available for yourself, spouse, children, grandchildren and now great-grandchildren.
Some of the benefit highlights are:
1. Active Member Employees- Guaranteed issue up to the amount $20.00 per week would buy the member employee. This means no full-time member employee can be turned down regardless of health and they will get standard rates.
Example: For the guaranteed of $20.00 per week a 30 year old male or female qualifies for $106,014.00 of life insurance.
2. Optional Catastrophic Loss Rider pays the employee member a monthly benefit if they are unable to perform 2 or more Activities of Daily Living. (There is NO requirement for Confinement in a Nursing Home or Assisted Living Facility.) Pre-existing conditions, limitations and exclusions apply.
3. Life insurance is full coverage day 1 for full-time employee member with face amount and premium guaranteed to never change as long as the premium is paid.
4. Spouse Modified issue up to the amount that $3.00 ($5.00 with employee member purchase of $5.00) a week will purchase. (Modified issue subject to one qualifying question “During the past 6 months, has your spouse been seen or treated, including testing, in a hospital or any other medical facility excluding physicians’ offices for routine medical care?” If yes, additional underwriting questions are required.)
5. Children, Guaranteed issue permanent coverage up to what $3.00 will purchase on children up to age 25 as well as grandchildren and great-grandchildren ages 15 and under. Higher amounts can be applied for through simplified underwriting. Child Term Benefit riders are available in lieu of whole life coverage for children as well. Child Term Benefit covers all unmarried dependent children ages 15 days through 25 years. Grandchildren and great- grandchildren are not eligible for the term benefit.
6. Employee members can purchase a family plan for as little as $4.55 a week.
Example: 30 year old husband 30 year old wife
8,270 face amount 8,270 face amount
5,000 face amount on qualified children
Total cost $4.55 per week
7. Unlike most term insurance, Employee members CAN CONTINUE THIS COVERAGE at no extra cost upon termination or retirement.
8. Employee members can apply for non- guaranteed amounts if so desired. You need only to answer a few medical questions to be considered for amounts over the guarantees.
9. This will not replace any coverage you currently have and will pay in addition to any other coverage. NO PARTICIPATION REQUIREMENTS FOR GUARANTEED ISSUE.
Officers and their families can benefit greatly from the guaranteed issue amounts offered. Because of preexisting medical conditions and/or occupation, some employee members might not be able to get insurance on themselves or their spouse elsewhere. With this plan, available through SCLEOA., you may be able to. Representatives from SCLEOA and Law Enforcement Benefit Group will be accepting applications soon during open enrollments at your department. Should you have any questions, please call 803-750-0234.
Policy Series ICC13 END-95 (ESO) 3/13 and END-95 (ESO) 3/13 SCLEOA 2014