Group Term Life

Description

National Security is making life easier for your employees. Our Group Term Life Insurance is easy to understand, easy to obtain and easy to afford.

With this essential element in your benefits package, employees may purchase up to $50,000 in life insurance - no health questions asked - with guaranteed rates for two years and accidental death and dismemberment benefits.

To be eligible for this life insurance, employees must be actively at work at least 30 hours per week, on a full-time basis, on the effective date of the policy and belong to a class of employees covered by this plan.

If the employee becomes disabled, the policy's premiums are waived after nine months of total disability. The policy may be converted to an individual policy if the employee leaves employment with your company.

Dependent spouses may be covered at up to 50% of the face amount of the employee's policy, dependent children at 25%. Qualified dependents of employees covered under this policy are eligible if they are not confined to a hospital or other health care facility, home confined, or unable to carry out the normal activities of someone of the same age and sex.

Dependent coverage will be accepted or rejected based on underwriting.

Underwriting Guidelines

  • The group must be formed for a sole or primary purpose other than that of securing insurance.
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  • The policyholder (employer) must be a legal entity, corporate or otherwise, with the authority to contract for the coverages desired.
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  • The policyholder must contribute at least 25% of the cost.
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  • A minimum of 75% of all eligible employees must enroll for contributory plans. 100% of all eligible employees must enroll for non-contributory plans.
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  • A minimum of 10 employees must be enrolled on the effective date of the contract.
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  • Active, full-time employees are those who work a minimum of 30 hours per week for the policyholder.
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  • Directors of a corporate employer are not usually considered active employees (unless they work a minimum of 30 hours per week for the policyholder).
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  • # Employees will be divided into classes for the purposes of determining the amount of coverage.
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  • Dependent spouse coverage will be 50% of the employee coverage.
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  • Dependent child coverage will be 25% of the employee coverage.
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  • Dependent coverage will be accepted or rejected based on the responses to the medical questionnaire.
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  • Rates are guaranteed for two years.
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National Security's Group Term Life policy is available in AL, GA, and SC.


Important - Read your policy.

This description is not an insurance policy. It serves only to provide a general description of coverages available from The National Security Group, Inc. Insurance policies for the coverages described above contain specific details of the coverages provided, conditions, limitations, and exclusions.
Please consult your local agent or refer to your policy for actual coverages.