Dependent Group Term Life Insurance FAQs
Q. Who can enroll in SAMBA’s Dependent Group Term Life Insurance Plan?
A. Provided you (the employee) are an active employee and you are enrolled in SAMBA’s Group Term Life Insurance with AD&D Plan, you may elect to enroll your dependents under the Dependent Group Term Life Insurance Plan.
Q. How much life insurance can my dependents have?
A. The amount of coverage under the Dependent Group Term Life Insurance Plan is linked to the amount of coverage you have under SAMBA’s Group Term Life Insurance with AD&D Plan (see the Dependent Coverage for Active Employees table).
Q. Can I obtain more life insurance coverage for my dependents?
A. If your spouse is enrolled in SAMBA’s Dependent Group Term Life Insurance Plan, you may elect to purchase up to an additional $300,000 amount of life insurance for him or her. This coverage is available under SAMBA’s Supplemental Group Term Life Insurance Plan.
Note: The amount of insurance on your spouse may not exceed 50% of the amount for which the employee is insured.
Q. When will my dependents’ coverage become effective?
A. Your dependents coverage will be effective following approval of the completed application and health statement form, and receipt of the first premium payment.
Q. Can my dependents’ coverage continue once I retire?
A. Yes! Provided you were covered as an “active” member for one year prior to your retirement under the Group Term Life Insurance with AD&D, you may continue your dependents’ coverage under SAMBA’s Dependent Group Term Life Insurance Plan. Coverage will be linked to the retired option you choose; see the Dependent Coverage for Retired Employees table.
Q. Who is the beneficiary of the Dependent Group Term Life Insurance Plan?
A. You (the employee) are the beneficiary under the Dependent Group Term Life Insurance Plan.
Q. How long are my children eligible under this plan?
A. Your children are eligible for coverage in the Dependent Group Term Life Insurance Plan as long as they are unmarried and under the age of 22.
Q. Is there a conversion policy available?
A. Yes. If your dependent is no longer eligible for coverage, he or she is entitled to have issued, without Evidence of Insurability, an individual Policy. Contact SAMBA at (800) 638-6589 to request a conversion policy within 30 days of the loss of coverage.
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