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 Group Policy with Standard 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 $10,000.00.
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 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.
*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. Evidence of Insurability is not required for Basic Dependent Life if enrollment occurs within the first 90 days of becoming licensed with UPCI; after this time period it is required.
The Spouse Benefit Amount is in increments of $1,000, after the first $2,000, to a maximum of $10,000 (not to exceed 50% of your Member Supplemental Life coverage).
The Child(ren) Benefit Amount is equal to half (50%) of your Spouse Benefit election. The above Dependent rates reflect the cost of your elected Spouse and Child Benefit election.
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.
Evidence of insurability is required:
- if you enroll beyond 90 days of being licensed with UPCI (the date on your license), or
- for supplemental dependent life insurance in excess of $2,000
Dependent life insurance does not reduce due to age.
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.
The options listed above apply only to new ministers who are age 69 and younger. A newly licensed minister who is 70 or older may not elect any additional insurance; they still receive the $10,000 that all licensed ministers receive.
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 $10,000 but the spouse must fill out a PHH and submit to the Standard Insurance Company. They 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 6 months and 21 years (23 if a full time student) are covered for 50% of the spouse’s covered amount with no additional premium.
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.
(MEDEX) coverage is part of your basic package and begins at the same time your $10,000 basic unit begins. Click here to see the MEDEX brochure for coverage. Policy number is 402623.
- US Based Ministers Beneficiary Designation Form
- Canadian Based Ministers Beneficiary Designation Form
Contact information for Life Additional/Supplemental
Phone: 636-229-7977 (direct line)
Phone: 636-229-7980 (direct line)