• Life Insurance You and Your Family Can Count On: Term coverage is the purest kind of life insurance with no costly savings features. Here's term life insurance you can depend on for a full ten years for premiums that will never go up and benefits that will never go down. You can renew coverage up to age 75, subject to all termination of coverage provisions.
• Available exclusively to HSBA Members/Employees And Spouses Age 60 and Under: With the HSBA Group 10-Year Level Term Life Insurance Plan, you can help protect your family from the unnecessary financial burdens of your or your spouse's premature death.
• Renewable Until Age 75: You can renew your life insurance under this HSBA Plan until age 75, subject to all termination of coverage provisions.
• High Amounts of Member/Employee and Spouse Coverage: Select a coverage amount to help meet your needs, from $50,000 up to $1,000,000 (in $25,000 units).
• Affordable Group Rates that Remain Constant for Ten Years: Compare the premiums for the HSBA Group 10-Year Level Term Life Insurance Plan to similar level term life plans on the market today. You'll probably be surprised at how much life insurance you can afford.
• Send No Money Until You're Approved
• Convenient Monthly Payment Option: An Electronic Funds Transfer (EFT) option offers a timesaving convenience.
• Accelerated Life Option: Enables you to apply for a portion of your benefits if you qualify as being terminally ill, subject to certain policy restrictions and limitations. These benefits are paid directly to you, and you may spend them any way you wish.

ELIGIBILITY
Available exclusively to HSBA members/employees age 60 or under, who may request coverage for themselves, their lawful spouses age 60 or under and all unmarried dependent children ages 14 days to under 21 years (25 if a full-time student).

A person may be insured as a member or spouse, but not both.

Unmarried, dependent children ages 14 days to under 21 years (25 if full–time student) are eligible for $5,000 or $10,000 of coverage.

APPLY FOR UP TO $1,000,000 OF COVERAGE
Choose the amount of Group 10–Year Level Term Life insurance you need to help protect you and your family for the next 10 years–without the worry of premiums that could go up or benefits that could go down.*
Amounts Of Insurance:
Members/Employees–$50,000 to $1,000,000 in $25,000 increments.
Spouse–$50,000 to $1,000,000 in $25,000 increments.
Children–$5,000 or $10,000


PLAN FEATURES

Pay Less If You’re a Qualified Non tobacco user
Non tobacco users meeting the highest underwriting standards may qualify for the Plan’s lowest rates.

Continuing Insurance After the 10–Year Term Ends
Premiums are guaranteed to remain level for the first 10 years of coverage*. At the end of the 10–year period, if you still meet the requirements of eligibility, you may apply for re-entry. A written application and proof of good health satisfactory to ReliaStar is required.

Or you or your dependent can be automatically transferred to group annual renewable term life coverage with attained age rates, without proof of good health and subject to all terms and eligibility requirements of the policy. The initial premium rate will be based on the Covered Person’s then current age at the time of transfer.

*The initial premium may not change for the first 10 years; however, the insurance company reserves the right to change the premium rates, but only if rates are changed for all insureds under the group policy and with 60 days written notice.

Keep Your Cost Manageable
Rates have been provided on a monthly basis per $1,000 of coverage to make it easier for you to compare this Plan with other insurance plans on the market today. Four modes of payment are available to suit your budget: quarterly billing, semiannual billing or annual billing; and our Monthly Pre–Authorized Check Payment Plan.

Your Cost
The cost of this life insurance is based upon the member/employee and spouse’s gender, amount of insurance requested, usage of tobacco/nicotine products, health status, and attained age on the date coverage is issued. Premium contributions will vary depending upon the options chosen.

Only non tobacco users meeting the highest underwriting standards will qualify for "Preferred" rates. (Note: tobacco users may qualify for "Tobacco"). Upon approval of your application, you will be notified of the rate classification for each approved person.

The initial premium will not change for the first 10 years 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. Coverage does not reduce during a level term period. Premiums will only be increased if premiums are increased for all insureds in the same age and rate class. The level term rate period begins on the effective date assigned by ReliaStar Life. To obtain a rate quote for other ages, benefit amounts, or for information on the 10-year Level Term Life Plan, call toll-free 1-866-920-9451. The classes of rates are “Super Preferred,” “Preferred,” and “Tobacco.” Only non-tobacco users may qualify for the “Super Preferred” and “Preferred” rates. (Note: Tobacco users may only qualify for the “Tobacco” rates). Upon approval of your application, you will be notified of the rate classification for each approved person. Acceptance into this Plan is subject to medical evidence of insurability as determined by ReliaStar Life. Depending on your age, amount of coverage you request and your answers on the application, a medical examination medical test(s) or other evidence of good health may be required. Any exams/tests requested by the company will be conducted at your convenience at no expense to you. If you are between the ages of 18 through 60, you may be eligible to apply for the HSBA Group 10-Year Level Term Life Insurance. For more information including eligibility, rates, benefit provisions, exclusions, limitations and termination provisions, please contact the HSBA Insurance Administrator at 1-866-810-9451. Coverage terminates at age 75.

All billing modes except annual will include a $2.00 billing fee. To avoid the fee, you may select EFT as a safe and secure payment option.

Send No Money Now!
All you need to do is return the completed application. You will be billed for the appropriate premium upon approval of your application.

OTHER IMPORTANT INFORMATION

Accelerated Life Benefit This important plan option gives you the ability to collect part of your HSBA Level Term Life benefits before your death if you are diagnosed with a terminal illness. If your doctor diagnoses you with a life expectancy of 6 months or less, you can collect up to 50 percent of your benefits (or $100,000, whichever is less) before you die—to use however you wish.

(Note: A doctor–certified terminal illness means an illness from which no recovery is expected, that results in a life expectancy of 6 months or less.)

This money can be used to help cover high prescription drug costs…medical bills…outstanding debts…to help pay for experimental treatments…the cost of modifications to your home…or for a family vacation—the choice is yours.

Waiver of Premium
If you become totally disabled, as defined in the certificate, for 180 days or longer before age 60 your coverage and benefits will continue at no cost to you—for as long as you’re disabled or until you reach age 75 (or the date of retirement for employees).

Exclusions
You’re covered 365 days a year, wherever you are. (The only exclusion is suicide within the first two years of the date your insurance or increase in insurance starts.)

You Name Your Beneficiary
You may name anyone you wish as the beneficiary of this plan, and you may change the beneficiary by contacting the Insurance Administrator in writing and advising them of the change.

You may also choose to name a beneficiary that you cannot change without his or her consent. This is an irrevocable beneficiary.

ADDITIONAL PLAN PROVISIONS
Effective Date
The member’s/employee’s/spouse’s insurance starts on the first day of the month on or after the later of the following dates:

• ReliaStar Life approves your proof of good health;
• Your premium is received;
• You become eligible for insurance; or
• You apply for insurance, if proof of good health is not required.

When Coverage Ends
As long as you remain an active member/employee of HSBA, pay your premium when due, and the group policy remains in force, you can keep your coverage. Your amount of insurance will not decrease due to age during a level term rate period.

For members/employees or spouses who are under age 60 at the end of a level term period, coverage will not reduce until age 70. Coverage will reduce to 50% at age 70 and will terminate at age 75.

Your insurance stops on the earliest of the following dates:

• The last day of the month during which you are no longer eligible for insurance under the Group Policy;
• For members and spouses, the last day of the month on or after your 75th birthday.
• For employees, the last day of the month during which you were last actively at work for a member of the Policyholder;
• The date the Group Policy terminates;
• The end of the period for which you paid premiums, if you do not make the next required premium contribution when due;
• For Accelerated Life Benefit, the date your Life Insurance stops.

Renewal Payments and Claims
Once you are accepted into the Plan, you will have a 31–day grace period for your payment of renewal premium contributions. When you want to submit a claim, call or write the Administrator for claim forms.

Certificate of Insurance
This information is only a brief description of the principal provisions and features of the Plan. The complete terms and conditions are set forth in the group policy issued by ReliaStar Life.

When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the Group Policy.

30–Day Free Look
If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it, without claim, within 30 days. Your coverage will be invalidated and you will be sent a full refund–no questions asked!

PLEASE KEEP FOR YOUR RECORDS
All members and spouses must complete an application form for any new coverage or to increase coverage (including dependent coverage) or to begin an initial or subsequent 10–year Level Term Rate Period when proof of good health is required. Some applicants may be required to have a medical exam in order to apply for coverage. For more information on medical requirements, please contact your Plan Administrator. If there is an increase in the amount of your insurance, the increase will take effect on the first day of the month on or next following the date of the increase. If you are in a Level Term Rate Period, premiums for the increased amount of insurance will be based on your attained age on the effective date of the increase. Your HSBA Level Term Life Plan will start on the first day of the month after your application has been accepted and your first premium has been paid.

This Web site describes the main provisions of the policy. The complete terms and conditions of coverage are contained in Group Policy 66716–1.
 
Underwritten by ReliaStar Life Insurance Company, 20 Washington Avenue South, Minneapolis, MN 55401–1900

Arkansas Insurance License #245544