Term Life Insurance FAQ
What kind of life policy is this?
It is a term life policy.
Are the premiums level?
The premiums are level for five years and will change at the 0 or 5 birthdays (example: age 30, 35, 40, 45).
Can I purchase this on my family?
Yes, you can purchase coverage on your spouse for up to $250,000 and $5,000 on your children.
Do I need to name my spouse as beneficiary?
No, you may select anyone as a beneficiary.
Do I need to be an ACEP member to apply?
Yes, you must be and remain an ACEP member to continue coverage; however, you can convert coverage.
Is there a Waiver of Premium option?
Yes, after you have been on Total Disability for six months you are eligible.
When applying for coverage will I need to get a physical?
Blood and urine tests may be requested along with medical records and an attending physician statement (APS).
What premium modes can I select from?
We offer Direct monthly ACH, Monthly, Quarterly, Semi-Annual and Annual.
How will my beneficiary make a claim on this policy?
Claims can be made by calling HBI. At that point, we will mail all of the appropriate forms immediately.
What forms must a beneficiary complete to receive the insurance benefit?
The forms include a general claim form for the beneficiary, an attending physician statement and a request for a certified death certificate.
Life Form Series includes GBD-1000, GBD-1100, or state equivalent.