Life Insurance
At Age 70
The SAMBA Group Term Life Insurance Plan ends at age 70 for retired members. If you wish to continue coverage,
SAMBA has made arrangements through The Prudential Insurance Company of America to purchase up to
$10,000 of life insurance coverage. This policy is the Group Term Life Insurance Plan for
Retired Members Age 70 or Over and Their Dependents.
Note: This coverage is only available if you were enrolled for Group Term Life Insurance
before you turned age 70.
Coverage and Premium Information
The amount of life insurance is limited to a maximum of $10,000 for you and $5,000 for your spouse. The quarterly cost is $10.50 per $1,000 of insurance for ages 70 through 74.
At Age 75
Your insurance will continue at the same coverage level, although the premium increases to $21 per
$1,000. You can keep the Group Term Life Insurance Plan for Retired Members Age 70 or Over as
long as you wish.
How to Enroll
Conversion Policy Also Available
The SAMBA Group Term Life Insurance Plan provides you with conversion privileges to convert the
amount of life insurance you lose upon reaching age 70 into an individual policy. This policy is
offered and administered by Prudential Financial. SAMBA will provide you with a statement of the
lost coverage as well as contact information for you to file your conversion request directly with
Prudential.
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