What group life benefits are available?

Q. What group life benefits are available to me as a member of MRA?

A. With the new MRA group life insurance plan, you have flexibility and a choice of benefit amounts. You may select a $10,000, a $25,000 or a $50,000 benefit for yourself and your full-time employees, and you only need to pay a minimum of 25 percent of the cost for covered employees.

Depending on the number of employees and the benefit you select, most or all life insurance is “guaranteed issue”—that means no health questions at all!

If you or your employees need more coverage, supplemental life insurance is available. The employee pays the full cost of supplemental and can select any amount, in $10,000 increments, between $10,000 and $200,000. If the amount requested is more than the guaranteed-issue amount, the employee provides health evidence.

Life insurance rates are surprisingly affordable. A 48-year-old store-owner with two full-time employees who are age 38 and 28 can provide $10,000 of Life Insurance and Accidental Death and Dismemberment for himself and the two key employees for about $7.50 per month.

Your actual monthly costs will vary from this example because you may select a different benefit amount, or the number of employees and their ages will differ. No matter what coverage you select, you will find the premiums offered through MRA to be competitive.

Please call our insurance specialist, Linda Cook, for additional information. She will work with you to develop a plan that completely meets your needs.

Do you have a question about group life and disability insurance? Contact “Ask Joe” in writing at 603 South Washington Avenue, Lansing, MI 48933, or by fax at 517.372.1303 or by email at abuttery@retailers.com.

Do you have a question about group life and disability insurance? Contact “Ask Joe” in writing at 603 South Washington Avenue, Lansing, MI 48933, or by fax at 517.372.1303 or by email at abuttery@retailers.com.