USDA/ESRA SPONSORED GROUP
LIFE TERM
The USDA/ESRA sponsored Group Term Life Plan through Boston
Mutual Life Insurance Company offers all USDA employees an
insurance program with high maximum coverage of $300,000 for both
employee and spouse and $3,000 of coverage for all dependent children.
Who
is eligible?
The plan is available to all employees and retirees of USDA, ASC
County Committees, State and County Extension Service and Farm Credit
Administration, and their spouses and dependent children. Foreign
nationals are not eligible. The employee, spouse or retiree must
be under 70 years of age. Dependent children between the ages of
15 days and 19 years are also eligible. Children who are full-time
students are eligible until they turn 23.
It's
easy to apply
Just print the application (or two if you want one for your spouse).
Please include dependent children information on one application
only, not on both.
(1) Choose the amount of insurance that best suits your needs.
(2) Complete the application
(both pages). Be sure to answer all questions, as an application
cannot be processed unless it is complete.
(3) Determine your total premium amount. Make your check for the
first quarterly premium payment payable to Mass Benefits.
(4) Mail your completed application(s) and your check for the first
premium to:
Mass
Benefits Consultants, Inc.
P.O. Box 828
Annandale, VA 22003-0828
Effective
Dates
Your insurance will become effective on the first quarterly billing
date following acceptance of your application by Boston Mutual Life
Insurance Company. The quarterly dates for this plan are January
1, April 1, July 1 and October 1.
Health requirements
Just complete the application form. Occasionally, due to age, amount
of insurance requested, or a previous medical history, a medical
examination or other medical tests at a reasonable expense to the
insurance company may be requested. Remember, because you are a
member of USDA/ESRA you are eligible to apply for this life insurance.
However, this does not mean that you will be accepted automatically.
You must qualify under the company's standards for acceptance.
Beneficiary
You may name any beneficiary you choose, so may your spouse. Beneficiaries
may be changed at any time by writing to Mass Benefits Consultants,
Inc. In the event of a member's death, coverage for spouse and children
may be continued.
Incontestability
Once your insurance has been in force for two years, the company
cannot contest coverage unless you fail to pay your premium. If
you leave USDA for other employment, your policy will continue in
force as long as your premiums are paid.
Waiver
of Premium
If you become totally and permanently disabled before you reach
age 60, and are unable to earn your salary for six consecutive months,
your premium payments will be waived for as long as the disability
lasts. (This waiver does not apply to disability resulting from
self-inflicted injury, injury or disease pre-dating your insurance,
or service in the armed forces of any country at war.)
Conversion
Privilege
If you, your spouse, or your children decide to convert this policy
to a permanent life insurance plan, either by choice or because
the maximum age covered by this plan has been reached, conversion
can be made for the benefit amount then in force on the policy without
evidence of insurability. However, application for conversion must
be made to Mass Benefits Consultants (MBC) within thirty-one days
after the last day of the period for which premiums have been paid.
(Contact MBC for details.)
Suicide
Exclusion
If death is caused by suicide during the first two years your policy
is in force, premiums will be refunded. However, no benefit payments
will be made. After two years, benefits are paid no matter what
the cause of death.
Termination
of Coverage
You may cancel your insurance at any time. However, coverage will
be terminated if:
+You
fail to pay your premiums.
+You or your spouse reach age 75.
+Coverage for children will terminate when they are no longer eligible,
or coverage for you and your spouse is terminated for any reason.
+Under any circumstances of termination, coverage for an employee,
spouse or dependent children will continue until the end of the
period for which premiums have been paid.
Renewability
This plan is renewable at the option of the insured and the USDA/Employee
Services and Recreation Association.
Low Quarterly Premiums
Premiums
are of the yearly-renewable term type and increase by age brackets
as follows:
Age
Last Birthday |
Member
or Spouse Quarterly Premiums per $10,000 up to $300,000 |
All
Children
$3,000* |
Under
35 |
$2.76 |
$2.50 |
35-39 |
$3.60 |
$2.50 |
40-44 |
$5.49 |
$2.50 |
45-49 |
$9.32 |
$2.50 |
50-54 |
$14.51 |
$2.50 |
55-59 |
$23.08 |
$2.50 |
60-64 |
$34.86 |
$2.50 |
65-69 |
$68.43 |
$2.50 |
70-74* |
$80.89 |
$2.50 |
Quarterly
premiums for members and spouses are determined by their respective
ages on the effective date and at time of renewal. Rates are subject
to revision on a class basis.
*
All eligible children, regardless of the number of children you
have, are covered for $3,000 each by one quarterly payment of $2.50;
except that children who are age 15 days to 6 months are covered
for $1,500.
**
At age 70 benefits are reduced 50%. Quarterly premiums are paid
at a rate of $80.89 per $5,000 and are for renewal only.
A
$1.00 administrative billing charge will be added to each quarterly
premium notice.
How to figure your quarterly premium.
Member
Only: Age 33
Quarterly Cost: $20,000 coverage 2 x $2.76 = $5.52
Family:
Member age 37 $30,000 coverage 3x $3.60 = $10.80
Spouse age 33 $20,000 coverage 2 x $2.76 = 5.52
$3,000 all children 2.50
Quarterly Cost = $18.82
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Although
every attempt has been made to verify the accuracy of the information
contained on this website, errors and omissions may occur. You will
receive a certificate of insurance describing the exact coverage
and benefits purchased. This website explains the general purposes
of the insurance described, but in no way changes or affects the
insurance afforded under the group insurance policy actually issued.
All coverage is subject to the actual policy conditions and exclusions