Life can have a way of throwing the unexpected at you. Be prepared with life insurance so that your family is protected from the financial hardship that comes along if you were to pass away.
Enrolling in a life insurance policy is easier and more affordable than you think. In fact, 80% of individuals believe life insurance is more expensive than it actually is1. Millennial and Gen X adults have overestimated these costs by nearly 213% and 119%, respectively2.
MedMutual Plan Options
We offer two types of coverages for individuals and families – term life insurance and accidental death & dismemberment (AD&D) insurance.
Term Life Insurance
Term life insurance provides coverage for a specified time and pays a benefit if you pass away for any reason except those excluded in your policy. This policy will help cover funeral costs, daily living expenses, outstanding debts and more. A term life insurance policy can last anywhere between 5 to 30 years.
Accidental Death & Dismemberment (AD&D) Insurance
AD&D is an additional benefit that pays for any covered dismemberment, or if you pass away from any covered accident. Accidental death and dismemberment make up the third highest amount of deaths in the U.S, with the majority of them being unintentional falls and motor vehicle accidents3. Make sure you are covered from these with AD&D. This policy can only be purchased with life insurance coverage.
How Life Insurance Works
Once enrolled in a life insurance plan, you can designate beneficiaries who will receive the benefit payment if you pass away. This amount can be in increments of $10,000, up to $50,000.
You can elect life and AD&D insurance coverage for your spouse. This coverage is only available when you qualify for and enroll in your own coverage. In addition, you can provide coverage for your children aged one year to 19 (or up to age 23 if your child full-time student) in the amount of $10,000.
Life Insurance FAQs
How do I get coverage?
There are no physicals or medical tests required. All you have to do is answer a few medical questions to determine if you qualify for life insurance coverage.
How will I be billed?
Once enrolled, you can pick a schedule that works best for you and your family. You can choose to be billed on a quarterly, semi-annual or annual basis. In some instances, we will approve monthly billing and will work with you to meet your needs.
Will my policy have cash value?
No, this is a term life/AD&D policy, which does not earn any cash value.
How long are initial rates guaranteed?
Initial rates are guaranteed for 10 years. After that, a one-year age annual band will apply. Click here to view the age rates.
When does my coverage end?
As long as you continue to pay your premium, personal life/AD&D insurance coverage ends for you and your covered child(ren) on the day you turn age 65. Coverage for your spouse will also end when your spouse turns age 65.
Ready to Enroll?
For more information, please call us at 1-866-925-2542 or reach out to your local insurance agent.
Sources: LIMRA1, Social Security Administration2 and CDC3