Voluntary Group Term Life Insurance
Underwritten by Metropolitan Life Insurance Company New York, NY
Open Enrollment for New Independent Business Owners
USI Affinity is pleased to offer open enrollment of guaranteed issue amounts for term life insurance for eligible, U.S. Independent Business Owners (IBOs) who are not currently insured under the IBOBA group term life (162250-1-G) policy. During open enrollment, guaranteed issue means IBOs may enroll for certain amounts of coverage without answering health questions. Take advantage of this offer by enrolling within 60 days of becoming an IBO.
IBO Eligibility: If you are a current IBO (not currently insured under the IBOBA group term life 162250-1-G policy), you may enroll for the guaranteed issue amount. You must be under the age of 70 and a member of the Independent Business Owners Benefits Association, a citizen or legally able to work in the U.S., able to perform normal activities, and not be confined at home, in a hospital, or receiving disability benefits. Some occupations/industries will limit the total amount of voluntary term life insurance available under this IBO group program.
Coverage Highlights:
You may purchase term life coverage for you or your dependents without answering health questions or undergoing a medical exam.
- IBO may enroll and purchase a guaranteed issue amount up to $50,000*
- IBO and your non-IBO spouse. Providing the IBO is enrolling, your non-IBO spouse may enroll and purchase a guaranteed issue amount up to the same amount*
- IBO and dependent children. Providing the IBO is enrolling, you may enroll and purchase a guaranteed issue amount up to $10,000 per child
If your spouse is also a current IBO meeting the IBO Eligibility requirement, he/she may complete their own enrollment form.
If you enroll during the Open Enrollment Period, and later wish to increase your coverage, you may increase your coverage with evidence of insurability at any time during the year.
*IBOs engaged in Non-Preferred industries are limited to a maximum of $25,000
Effective Date
Coverage for you and your dependent(s) will begin, subject to payment of required premiums, on the first day of the month that follows the latest of the day:
- IBO begins Active Eligibility
- IBO submits a written request to enroll for insurance
- IBO acquires an eligible dependent(s)
- Following the approval of Evidence of Insurability, if required
If you (or your spouse if enrolling) are age 65 or older on the date insurance becomes effective, the amount of life and AD&D insurance will be reduced 50 percent of the original amount you are requesting.
Additional Benefits:
Living Care/Accelerated Death Benefits
Accidental Death and Dismemberment (AD&D)
Conversion
Dependent Coverage
Affordable Benefits:
Guaranteed Issue Voluntary Term Life Insurance.
Non-tobacco user quarterly premiums for males and females**
| Age |
$25,000 |
$50,000 |
| Under Age 30 |
$3.45 |
$6.90 |
| Age 30 |
$3.98 |
$7.95 |
| Age 40 |
$6.15 |
$12.30 |
| Age 50 |
$16.95 |
$33.90 |
**Tobacco user rates are also available.
View the rate chart for quarterly premiums of all ages.
How to Enroll:
Complete the enrollment form and return to USI Affinity within 60 days of becoming an IBO. If you miss the open enrollment opportunity or wish to apply for more than the guaranteed issue amount, you will be required to provide evidence of insurability and may contact
our office at 1-800-254-2327 for further details.
Voluntary Term Life Insurance and Accidental Death and Dismemberment insurance underwritten by Metropolitan Life Insurance Company New York, NY. Group Policy Form: 162250-1-G
Like most insurance policies, MetLife policies contain certain exclusions, waiting periods, reductions, limitations and terms for keeping them inforce. All policies and riders may not be available in all states, at all issue ages and to all occupational classes. Coverage is subject to underwriting approval. Please contact the plan administrator at 1-800-254-2327 for details.
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