20 year level term life insurance

20 year level term life insurance

Video 20 year level term life insurance


Available exclusively to IMA members age 60 or under who may request coverage for themselves and their lawful spouses** age 60 or under.

A person may be insured as a member or spouse**, but not both.

Unmarried, dependent children ages 14 days to under 19 years (25 if full-time students) are eligible for $5,000 or $10,000 of coverage.

This coverage is available only to residents of the United States and may not be available in all states. Please contact the administrator for details.


Choose the amount of Group 20-Year Level Term Life insurance you need to help protect you and your family for the next 20 years-without the worry of premiums that could go up or benefits that could go down.*

Amounts Of Insurance: Members-$200,000 to $1,000,000 in $5,000 increments. Spouses**-$200,000 to $1,000,000 in $5,000 increments. Children-$5,000 or $10,000


Pay Less If You’re a Qualified Tobacco Non-User

Tobacco non-users meeting the highest underwriting standards may qualify for the “Super Preferred” (the Plan’s best) rates that follow. Other tobacco non-users may qualify for “Preferred” rates.

Continuing Insurance After the 20-Year Term Ends

Premiums are designed to remain level for the first 20 years of coverage*. At the end of the 20-year period, you may elect to reapply for 20-year level term rates then in effect for a subsequent 20-year period, provided the insured person is age 60 or under and otherwise eligible. If your application for a subsequent 20-year term of level rates is approved by the insurer, your premium contribution will be based on your age, health and tobacco status at the time coverage becomes effective and remain level for a new 20-year term.*

If you and your spouse** are not approved for a subsequent 20-year term of level rates, or you do not apply for a subsequent 20-year term, coverage will continue in force on a non-level rate basis, under which premium contributions increase in 5 year age bands as the insured ages.

Keep Your Cost Manageable

Rates have been provided on an annual basis per $5,000 of coverage to make it easier for you to compare this Plan with other insurance plans on the market today. Four modes of payment are available to suit your budget: quarterly billing, semiannual billing or annual billing; and our Monthly Pre-Authorized Check Payment Plan.

Your Cost

The cost of this life insurance is based upon the member and spouse’s** gender, amount of insurance requested, usage of tobacco/nicotine products, health status, and attained age on the date coverage is issued. Premium contributions will vary depending upon the options chosen.

Only tobacco non-users meeting the highest underwriting standards will qualify for “Super Preferred” or “Preferred” rates. (Note: tobacco users may qualify for “Tobacco” rates.) Upon approval of your application by the insurer, you will be notified of the rate classification for each approved person.

Click here to view Rates

Send No Money Now!

All you need to do is return the completed application. You will be billed for the appropriate premium upon approval of your application by the insurer.


Accelerated Life Benefit This important plan option gives you the ability to collect part of your IMA Level Life benefits before your death if you are diagnosed with a terminal illness. If your doctor diagnoses you with a life expectancy of 12 months or less, you can collect equal to 25 percent up to 75 percent of your benefits (or $50,000, whichever is less) before you die—to use however you wish.

(Note: A doctor-certified terminal illness means an illness from which no recovery is expected, that results in a life expectancy of 12 months or less. You must have at least $20,000 of coverage in force to exercise this option.)

This money can be used to help cover high prescription drug costs…medical bills…outstanding debts…to help pay for experimental treatments…the cost of modifications to your home…or for a family vacation-the choice is yours.

Receipt of the accelerated benefit may be taxable, or may adversely affect your eligibility for Medicaid or other government benefits. You should consult your personal tax advisor to assess the impact of this benefit.

Waiver of Premium

If you become totally disabled, as defined in the certificate, for 180 days or longer before age 60 your coverage and benefits will continue at no cost to you until the earliest of the end of your disability or until you reach age 80.

Accidental Death & Dismemberment Benefit (Optional Coverage)

You can elect Group Accidental Death & Dismemberment (AD&D) coverage up to the same level of death benefit for which you are applying. This benefit may prove valuable when you consider that accidental deaths have increased nearly 75% in the last 20 years.1 In addition, if you are seriously injured in a covered accident and sustain loss of limb, eyesight or other injuries, a partial benefit may be payable. (Please note: Semi-annual rates are $.60 per $5,000 of coverage if under age 65; $.90 per $5,000 if ages 65-80.)

Rates shown are as of June 1, 2022. 1National Safety Council, Injury Facts 2022 Edition.


You’re covered 365 days a year, wherever you are. (The only exclusion for life insurance is suicide within the first year of the date your insurance or increase in insurance starts. The AD&D and Accelerated Life Benefits are subject to additional exclusions.)

You Name Your Beneficiary

You may name anyone you wish as the beneficiary of this plan, and you may change the beneficiary by contacting the Insurance Administrator in writing and advising them of the change.

You may also choose to name a beneficiary that you cannot change without his or her consent. This is an irrevocable beneficiary.


Effective Date

Your insurance will become effective the first day of the month on or after the later of the following dates:

  • ReliaStar Life approves your proof of good health;
  • Your premium is received;
  • You become eligible for insurance; or
  • You apply for insurance, if proof of good health is not required.

When Coverage Ends

As long as you remain an active member of the IMA, pay your premium when due, and the group policy remains in force, you can keep your coverage. For members or spouses** who are under age 70 at the end of a level term period, coverage will not reduce. At the end of a level term period, beginning on and after your 70th birthday, your amount of insurance will reduce.

Your insurance stops on the earliest of the following dates:

  • from your 70th birthday to age 75, ReliaStar Life pays 80%;
  • from your 75th birthday and a after, ReliaStar Life pays 55%;

Coverage terminates at age 80.

A decrease in the amount of insurance due to age will take effect on the later of the premium due date after your attainment of any of the specified birthday’s, or at the end of a level term rate period. Your amount of insurance will not decrease due to age during a level term rate period.

Renewal Payments and Claims

Once you are approved into the Plan, you will have a 60-day grace period for your payment of renewal premium contributions. When you want to submit a claim, call or write the Administrator for claim forms.

Certificate of Insurance

This is a summary of benefits only. A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of coverage. All coverage is subject to the terms of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern.

When you become insured, you will be sent a Certificate of Insurance detailing your benefits under the Group Policy.

30-Day Free Look

If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it within 30 days, provided no claims have been submitted or paid. Your coverage will be invalidated and you will be sent a full refund-no questions asked!


All members and spouses** must complete an application form for any new coverage or to increase coverage (including dependent coverage) or to begin an initial or subsequent 20-year Level Term Rate Period when proof of good health is required. Some applicants may be required to have a medical exam in order to apply for coverage. For more information about medical requirements, please contact your Plan Administrator. If there is an increase in the amount of your insurance, the increase will take effect on the first day of the month on or next following the date of the increase. If you are in a Level Term Rate Period, premiums for the increased amount of insurance will be based on your attained age on the effective date of the increase. Your IMA Level Term Life Plan will start on the first day of the month after your application has been approved and your first premium has been paid.

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