What is LifeTime Benefit Term?

Life insurance provides your family with money after your death. This money will help your family meet continuing financial needs that would have been provided by your income. It can help pay a mortgage, household bills, school expenses, childcare costs or ensure that your dependents are not burdened with debt. In addition to providing a tax-free life insurance death benefit, LifeTime Benefit Term gives you the option to receive an accelerated payment of your life insurance coverage to help cover the costs associated with nursing home, assisted living, and even in-home care. LifeTime Benefit Term is a great way to protect your most important asset and help provide the peace-of-mind your family deserves.

What are the product features?

- LifeTime Benefit Term life insurance up to $100,000 for benefits eligible actively at work SOK employees.
- Life base insurance premiums are guaranteed never to increase through age 100.
- Provides paid-up death benefit values after only 10 years, so if you decide to stop paying premiums at some time in the future, you are guaranteed paid-up coverage of a reduced amount.
- Flexible – You have the option to:
    - Continue your coverage at the same premium; or
    - Elect paid-up insurance coverage of a reduced amount after 10 years with no further
      premium payments – Guaranteed!
- Fully portable – you own it and take it with you should you leave your employment.
- Spouse and child coverage is available.
- Based on current interest rate assumptions the death benefit is designed to remain level through average life expectancy. In the event of a long term decline in interest rates, your coverage does contain a guarantee ensuring that the initial death benefit will last for the longer of 25 years or to age 70 thereafter can never be less than 50% of your initial death benefit.

What are the eligibility requirements for Guaranteed Issue?

State of Kansas Employees age 19-70

- Employee must enroll during the March 1, 2016– May 1, 2016 initial enrollment period.
- Employee must be a U.S. citizen or a permanent resident.
- Employee must be actively at work performing the regular duties of his/her job in the usual manner and the usual place of employment on the enrollment form date.
- The employee is actively at work for 30 hours or more per week and has completed three (3) months of employment as of the enrollment form date.
- Coverage cannot exceed $100,000.
* Spouses and dependent children are eligible for this benefit. Please contact a licensed specialist to find out about the eligibility requirements at 1-877-720-2165.

What are the eligibility requirements for Conditional Guaranteed Issue?

State of Kansas Employees age 19-70

- Employee must enroll during the March 1, 2016 – May 1, 2016 initial enrollment period.
- Employee must be a U.S. citizen or a permanent resident.
- Employee must be actively at work performing the regular duties of his/her job in the usual manner and the usual place of employment on the enrollment form date.
- The employee is actively at work for 30 hours or more per week and has completed three (3) months of employment as of the enrollment form date.
- Coverage cannot exceed $150,000.
* Spouses and dependent children are eligible for this benefit. Please contact a licensed specialist to find out about the eligibility requirements at 1-877-720-2165

What are the eligibility requirements for Simplified Issue

State of Kansas Employees age 19-70

- Employee may enroll at any time.
- Employee must be a U.S. citizen or a permanent resident.
- Employee must be actively at work performing the regular duties of his/her job in the usual manner and the usual place of employment on the enrollment form date.
- The employee is actively at work for 30 hours or more per week and has completed three (3) months of employment as of the enrollment form date.
- Coverage cannot exceed $150,000.

State of Kansas Employees age 71-80

- Employee may enroll at any time.
- Employee must be a U.S. citizen or a permanent resident.
- Employee must be actively at work performing the regular duties of his/her job in the usual manner and the usual place of employment on the enrollment form date.
- The employee is actively at work for 30 hours or more per week and has completed three (3) months of employment as of the enrollment form date.
- Coverage cannot exceed $50,000.

What are the New Hire eligibility requirements?

- Once the SOK new hire employee becomes benefits eligible, they have 90 days to apply for Guaranteed Issue coverage with the following underwriting requirements:
The employee is actively at work at least 30 hours per week and between the ages of 19-70 – no medical underwriting required; if coverage is less than $100,000. If coverage is more than $100,000 but less than $150,000 the applicant will receive Conditional Guaranteed Issue.

How do I enroll?

To take advantage of this opportunity, a licensed specialist will work with you to complete the enrollment process. To contact a specialist, please call 1-877-720-2165 Monday through Friday from 9 a.m. to 6 p.m. CST.

Request A Consultation

 
 
 
 





Or Call (877) 720-2165

Did You Know?

At least 70% of people over 65 will need long term care services at some point."1

Long term care services cost between $50,000 - $100,000 per year."2

40% of people receiving long term care are working-age adults between the ages of 18-64."3

Women need long term care services for longer (on average 3.7 years) than do men (on average 2.2 years)."4

LTC does not apply to only the elderly. In fact, over 40% of all people who need long term care are under the age of 65. Younger people may need LTC for a variety of reasons, including accidents, multiple sclerosis, strokes, or other debilitating conditions."5

Is Long Term Care Insurance Right for You? It Can Help You:

  • Protect your home, savings, and family assets
  • Purchase the kind of care you want to receive
  • Maintain your independence and avoid being a burden to your family members
  • Feel more confident about the future


(1) Medicare & You, National Medicare Handbook, Centers for Medicare and Medicaid Services Revised November, 2012
(2) MetLife Mature Market Institute, 2012 Market Survey of Long Term Care Costs.
(3) National Clearing House for Long Term Care Information, October 2008.
(4) US Department of Health and Human Services, 2007
(5) https://www.medamericaltc.com/groups/q-a.jsp