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Home | Products | 10-Year Level Term Life Insurance UnionSecure 10-Year Level Term Life Insurance FAQs
COVERAGE AND DEPENDENT QUESTIONS Q. Why is UnionSecure 10-Year Level Term Life Insurance important to have? A. You've worked hard to keep your family secure, now’s your opportunity to get coverage for that security at an economical rate. The costs of funeral arrangements and outstanding bills many people leave behind are high enough, but add to that the day-to-day bills (such as the mortgage, car payment, college tuition, etc) and a family's financial security can be seriously undermined - especially since many employer-sponsored life insurance plans offer minimal protection. The UnionSecure 10-Year Term Life plan is designed to provide you with up to $200,000 of coverage when your family needs it the most – those crucial years when, for example, the mortgage, college tuition and other high expenses must be paid. Q. What is the difference between UnionSecure Term-to-70 and 10-Year Term Life plans? A.
Q. How does the benefit work and pay? A. If you were to die from an illness or accidental injury*, your beneficiary would receive a Life Insurance Benefit after we receive proof of death. The cost for this coverage is locked-in for ten years; you’ll always pay the same monthly amount no matter what happens to your health. Additionally, you get an Accidental Death benefit. Should death be the result of a covered accident any place in the world, including your workplace, your family would receive an additional $15,000. This benefit covers you 24 hours a day, 7 days a week. *Under the terms of the policy, injury is defined as bodily injury resulting directly and independently of all other causes from an accident which occurs while the person is covered under this policy. Q. Is a medical exam necessary? A. Only applicants applying for coverage amounts of more than $100,000 will require a medical exam – and it will be at NO COST to the member. Q. What is a "premium"? A. The premium is the payment you make for an insurance policy. In this plan, your premium is paid every month for 10 years. Q. What makes UnionSecure different? A.
Q. Is there any time when someone wouldn’t be covered? A. If a person commits suicide - while sane or insane - during his or her first two years of coverage under the policy, the policy will only pay an amount equal to the premium paid for coverage to the date of death. Q. Are there any age requirements? A. Yes, members and their spouses or domestic partners who are at least 18 years of age and under the age of 65 can apply, coverage terminates at age 75. Q. What happens after the 10-year term expires? A. At the end of your 10-year term, if you’re under age 65, you can re-apply for a new 10-year term by completing a new application, answering medical questions and going through underwriting. If your health remains good, you can continue your coverage for another 10 years. Or, if your application does not pass underwriting, you may continue the policy as an annual renewable term (ART) policy. ART rates are based on your current age and change annually. Rates for this policy are higher than the 10-year term rates because poor health indicates a higher risk. Q. If I purchase a policy and I develop health problems during the 10 years I am covered for, can my insurance be terminated? A. No, you cannot be terminated due to a change in your health. Q. For what reasons could my 10-Year Term insurance be terminated? A. Your insurance would be terminated if:
Q. Are there restrictions on how my beneficiary can use the benefit money? A. No, the money can be used at his/her discretion. Q. Does my spouse or domestic partner have to purchase the same benefit as me, the union member? A. Spouses (or domestic partners) may choose a different level amount. Q. When does coverage become effective? A. Coverage becomes effective on the first day of the month after your application is approved, and the premium is paid. Q. If I (the insured member) die, can my spouse or domestic partner continue coverage? A. Yes, spouses (or domestic partners) can continue coverage if they are insured with their own policy prior to the member's death. Q. What does the Strike/Labor Dispute Waiver of Premium mean? A. If an insured is 1) in a lawful, authorized strike by a union or 2) locked out as a result of a dispute between the union and an employer, or experiences an involuntary layoff, the insured doesn't have to pay premiums for up to 3 months on this coverage. May not be available in all states or for all unions. Q. What is the process for getting the premium waived? A. The insured must provide written proof of strike, lock-out or layoff before the wavier of premium begins. It can be a note from the union or a note from the insured with a newspaper article verifying the sanctioned or forced work stoppage. EXCLUSION QUESTIONS Q. Are there any exclusions to the policy coverage? A. If a person commits suicide - while sane or insane - during his or her first two years of coverage under the policy, the policy will only pay an amount equal to the premium paid for coverage to the date of death. Q. Are pre-existing conditions covered? A. Yes. Once you are approved for coverage, there are no exclusions for pre-existing conditions. RATE QUESTIONS Q. Can I be singled out for a rate increase? A. No, not during the 10-year term of your policy. Q. Can the coverage be paid by credit card or through an automatic checking account deduction? A. Yes, members who apply will have various payment options when they receive their policy. Underwritten by: Hartford Life and Accident Insurance Company, Simsbury, CT 06089 Form SRP-1153 CRT A (HLA) (AGT-1003)
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