Why is life insurance important?

Life insurance pays a death benefit to your designated beneficiary (see below for definition) if you die while you are covered by the policy, providing financial security to your family.

How much life insurance coverage can I buy?

You can buy individual life insurance coverage from MedMutual Life in increments of $10,000, up to $50,000. You also have the option of purchasing AD&D insurance in the same increments.

What is the difference between life insurance and AD&D insurance?

  • Basic life insurance pays a benefit if you die for any reason, other than those excluded in your policy.
  • AD&D insurance pays an additional benefit if you have covered dismemberment event or die due to a covered accident.

Please note: AD&D coverage is not available on a stand-alone basis and can only be purchased in conjunction with the life coverage.

Am I guaranteed coverage?

There are no physicals or medical tests required. You must answer “no” to the medical questions indicated on the enrollment application to be approved for life insurance. If you answer “yes” to any medical question, you won’t be approved for coverage.

How will I be billed?

If you enroll in a life insurance plan through MedMutual Life, 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. Life insurance plans can be purchased with or without a Medical Mutual health plan.

What is a designated beneficiary?

Your designated beneficiary is the person (or persons) or legal entity (entities) who receives a benefit payment if you die while insured. You must select your beneficiary when you complete your enrollment application and your selection is legally binding.

Can I get personal life insurance coverage for my spouse or children?

Yes, you may choose to buy life and AD&D insurance coverage for your spouse in increments of $10,000, up to $50,000. This coverage is only available when you qualify for and elect your own coverage.

In addition, you may buy life insurance coverage for your children age one year to age 19 (or 23 if a full-time student) in the amount of $10,000. Again, this coverage is only available if you qualify for and elect your own coverage.

Please note: AD&D coverage is not available for children.

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. Please refer to the back of this sheet for age bands and rates.

When does 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 reach age 65. Coverage for your spouse ends when your spouse reaches age 65.

Important Details

  • This information provides an overview of your individual life benefit. Once you enroll, a policy will be available to explain your coverage in detail.
  • Benefits will be determined based on the administrative policies and procedures of MedMutual Life.
  • This document is only a partial listing of benefits. This is not a contract of insurance. The policy will contain the complete listing of covered benefits.
  • MedMutual Life Insurance Company is a subsidiary of Medical Mutual.