How does level term differ from annual term? The premium and benefit are designed to remain the same (level) for a specific period of time. At the end of that period you will need to show proof of insurability to obtain an additional level term plan.
Once approved for coverage by the insurer, and as long as your premium is paid and the group policy remains in force, you will have life insurance until age 75 without showing further proof of insurability. The group policy renews automatically on an annual basis.
Insurance coverage that is available, even if you don’t qualify for life insurance. Protect yourself and your family against the risk of death or dismemberment from a covered accident.** This coverage is guaranteed issue.
*The initial premium will not change for the level term period 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.
Group Term Life and Group AD&D insurance coverage is provided under the terms of group insurance policies, Group Policy 31281-9, issued and delivered in the State of Missouri to The Missouri Bar as the policyholder. The group insurance policies are issued by ReliaStar Life Insurance Company, Minneapolis, MN. The policies are administered on behalf of ReliaStar Life Insurance Company by The Bar Plan Insurance Agency, Inc., an administrator licensed in the state of Missouri. Policy forms LP08GPMO and HP010GP.
**For more product details and a list of full AD&D exclusions, please refer to the brochure.