WHY IT MATTERS
WHY IT MATTERS
Life can be unpredictable, but your family’s financial future shouldn’t be. This optional term life coverage is offered through your IPSE membership and is issued by The Prudential Insurance Company of America, a company that has stood the test of time for more than 140 years.
Apply † for coverage and your loved ones can have the time they need to mourn their loss when the unthinkable happens, and still help keep up with mortgage payments, school tuition, credit card bills, and funeral expenses
80% of consumers overestimate the cost of life insurance.1
In the U.S., about 66% of people live from paycheck to paycheck.2
Are you Prepared?
About half of all households have less than $10,000 in savings.3
WHAT IT IS
WHAT IT IS
Reliable coverage for your loved one’s future is now possible with optional term life insurance you can take with you from job to job, as long as you remain a member. Benefits can be used to help pay for funeral costs, mortgage, college tuition, credit card debt and more without restriction.
Apply today and enjoy exclusive rates and flexible options to meet the needs of your changing life
FREQUENTLY ASKED QUESTIONS
Is coverage available for my spouse/domestic partner & children?
Yes, your Spouse/Domestic Partner may enroll for up to $100,000 and each eligible child, age 6 or younger, can receive up to $5,000 of coverage.†
What additional features are included in the optional term life plan?
The Accelerated Benefit Option (ABO) is included at no additional cost to the member. If you are terminally ill with a life expectancy of 6 months or less, with ABO, you may use 90% of your coverage amount to a maximum of $100,000 to help pay medical costs, pay off your mortgage, or take the vacation of a lifetime. This option applies to both member and dependent coverage.
Do I have to answer medical questions to apply for this coverage?
Only three health questions are required to complete the application process. In certain circumstances, an attending physician’s statement or paramedical exam may be ordered to ensure proof of good health.
Can I convert my optional term life policy to an individual policy without going through medical underwriting?
Yes, if you are no longer insured for the optional term life Insurance coverage because your membership in the covered class ends, or part of the group contract ends, you can convert to an individual policy within 31 days of such termination without medical underwriting.
Who receives the death benefit proceeds?
Term life benefits are payable to your beneficiary(ies).
How soon will my coverage begin?
Coverage is effective the first of the month following approval of your enrollment.
What are the benefit reductions in the optional term life policy?
This term life policy reduces at a slower rate than other policies, which allows you to keep more of your coverage for a longer period of time.
- 65% of original coverage amount at age 65
- 50% of original coverage amount at age 70
Coverage terminates at age 75. All coverage is subject to Prudential’s approval of satisfactory evidence of insurability.
Do I have to pay my first premium when I enroll?
No. Your first premium contribution will be due following approval of your request for optional coverage.
1. LIMRA and LIFE Foundation 2015 Insurance Barometer study.
2. American Payroll Association, Getting Paid in America Survey, 2016
3. Prudential Financial Wellness Survey, January 2017
† Coverage is not guaranteed and subject to proof of good health.
*IPSE-US Member Optional Term Life and Optional AD&D coverages are available to members in most of the United States including Puerto Rico and the District of Columbia. * IPSE-US Member Optional Term Life and Optional AD&D coverages are not available in; Alaska, Colorado, Idaho, Minnesota, Montana, New Hampshire, Oregon, South Dakota, Utah, and are not included as a member benefit at any membership level.
Accelerated Death Benefit option is a feature that is made available to group life insurance participants. It is not a health, nursing home, or long-term care insurance benefit and is not designed to eliminate the need for those types of insurance coverage. The death benefit is reduced by the amount of the accelerated death benefit paid. There is no administrative fee to accelerate benefits. Receipt of accelerated death benefits may affect eligibility for public assistance and may be taxable. The federal income tax treatment of payments made under this rider depends upon whether the insured is the recipient of the benefits and is considered terminally ill or chronically ill. You may wish to seek professional tax advice before exercising this option.
IPSE-US Member Optional Term Life and Optional Accidental Death and Dismemberment coverages are issued to IPSE-US by The Prudential Insurance Company of America, Newark, NJ and distributed by iWorker Innovations, LLC, a Delaware limited liability company. iWorker Innovations, LLC is a subsidiary of iW Holdings, LLC. Prudential Workplace Solutions Groups Services, LLC owns a minority non-controlling interest in iWorker Holdings, LLC. The Prudential Insurance Company of America and Prudential Workplace Solutions Group Services, LLC are businesses of Prudential Financial, Inc. Each company is solely responsible for its own financial condition and contractual obligations. The Booklet-Certificate contains all details, including any exclusions, limitations and restrictions, which may apply. CA COA #1179, NAIC #68241. Contract Series 83500.
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