U.S. Based Ministers Additional/Supplemental Term Life Insurance
Every licensed minister of the United Pentecostal Church is provided a $10,000 term life policy as part of their benefits. Coverage is included in your dues. It is recommended that each minister consider purchasing additional/supplemental life insurance coverage as the $10,000 provided is typically help to cover some end of life expenses. In many instances it isn’t enough for burial. Additional coverage is needed to care for the family members left behind.
The present US Group Policy offers additional/supplemental term Life Insurance in $5,000 increments for the licensed minister and dependents age 69 and below. Maximum coverage for ministers is $250,000.00 and for dependent it is $50,000.00 (minister must have double).
Supplemental Life Insurance Rates
|Annual Premium for per $5,000 increment of coverage||Annual Premium for per $1,000 increment of coverage*|
|less than 30||$9.23||$5.40|
|70 and thereafter||$357.60||$33.79|
The rates include an administration fee, payable to UPCI, to cover administrative expenses involved with this insurance plan.
Benefit Reductions for Members
At age 70, the amount of Supplemental Life coverage for US-based ministers will be the lesser of:
- 50% of the amount elected, or
The amount will reduce thereafter by 50% each fifth anniversary following your 70th birthday. This supplemental policy does not reduce below $5,000 no matter your age.
The present Canadian policy terminates supplemental term life coverage at 70 years of age.
Supplemental Dependent Life (U.S. Based Ministers):
A Member must first elect or be covered for the Basic Dependent Life coverage of $2,000 at $28.35 annually. There are no health exams or questions during the 90-day enrollment period after the minister is first licensed for this $2,000 Basic Dependent Life coverage. There are also periodic open enrollment dates that offer guaranty issue.
Evidence of Insurability is required:
- If you enroll beyond 90 days of being licensed with UPCI (the date on your license)
- Or you wish to add more than $2,000 worth of Basic Dependent Life
The Spouse Benefit Amount is in increments of $1,000, after the first $2,000, to a maximum of $50,000 (not to exceed 50% of your Member Supplemental Life coverage).
You may not purchase or increase dependent life insurance after you reach age 70 and your spouse may not increase their amount of coverage following your death. They can choose to keep current coverage on themselves after the minister passes.
Dependent life insurance does not reduce due to the age of the spouse, but may reduce based on the age of the minister.
This communication is not intended to be complete description of the plan of benefits. For full details please refer to the insurance contract or certificate of coverage.
Additional Life Insurance Available for Newly Licensed Ministers
You have 90 days from the date your license is issued to:
- Elect up to $90,000 (for a total of $100,000) additional term life coverage without filling out a Personal Health History application.
- You may elect up to a total of $250,000 coverage but must fill out the PHH application for anything over $90,000.
Dependent/Spouse coverage is available up to a maximum of $50,000 but the spouse must fill out a PHH. The insurance provider will review it and decide to accept or deny coverage.
If you elect and are approved for spouse/dependent coverage, your child/ren between the ages of birth and 25 years old are covered for 50% of the spouse’s covered amount.
ADDITIONAL INSURANCE COVERAGE AUTOMATICALLY INCLUDED FOR ALL LICENSED MINISTERS above and beyond the $10,000 Term Life Insurance is:
Accidental Death and Dismemberment (AD&D)
Every licensed minister is also provided automatically with $10,000 AD&D. It is highly recommended you consider additional AD&D because of the very low cost and large benefit it could be to your family in the event of an accidental death or inability to work because of dismemberment. Click here to see additional information. Canadian AD&D automatically terminate at age 70.
Value Added Benefits
- US Based Ministers Beneficiary Designation Form
- Canadian Based Ministers Beneficiary Designation Form
Contact information for Supplemental Term Life:
Phone: 636-229-7977 (direct line)
Phone: 636-229-7980 (direct line)