This plan allows members of the Minnesota Benefit Association to apply for life insurance protection on a simplified issue basis by answering a small health questionnaire.
Members and Spouses under 50 years old: Up to $150,000 in coverage
Members and Spouses 50-60: Up to $100,000 in coverage
Child Coverage: Up to $10,000
There is a minimum coverage requirement of $50,000.
By planning ahead with the Group Level Term Life Insurance Plan, you can ensure that your beneficiaries will have the money necessary to help:
Email our office at info@minnesotabenefitassociation.org for more information
*Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. The Booklet-Certificate contains all details, including any policy exclusions, limitations, and restrictions, which may apply. Contract Series: 83500
*Accelerated Benefit Option is a feature that is made available to group life insurance participants. It is not a health, nursing home, or long-term care insurance benefit and is not designed to eliminate the need for those types of insurance coverage. The death benefit is reduced by the amount of the accelerated death benefit paid. There is no administrative fee to accelerate benefits. Receipt of accelerated death benefits may affect eligibility for public assistance and may be taxable. The federal income tax treatment of payments made under this rider depends upon whether the insured is the recipient of the benefits and is considered [terminally ill][chronically ill]. You may wish to seek professional tax advice before exercising this option.
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