Bi-weekly payments only available to NSA/DIA employees. Premium based on age and payment frequency.
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GEBA's Group Term Life Insurance* Includes
Apply anytime – no “open season”
Coverage up to $600,000 for members. Up to $300,000 for spouse/domestic partner coverage or 100% of the member’s coverage amount, whichever is less
$20,000 in coverage for dependent children (up to age 26)
Coverage for Acts of War and Terrorism
Coverage you can keep when you retire or leave your job
$50k guaranteed coverage for those 50 and younger**
Accelerated Death Benefit – access coverage funds to pay for anything you want if diagnosed with a terminal illness***
Coverage for Accidental Death & Dismemberment, at no additional charge, equal to 50% of the member’s life insurance amount
*Sponsored Family Members are not eligible for the Group Term Life Insurance but can request an appointment with a GEBA Wealth Management financial advisor to discuss Individual Life Insurance.
**To qualify for this offer, you must be a U.S. citizen, 50 years or younger, and a civilian federal employee or military, and not previously declined for coverage. This coverage is not available to sponsored family members.
***Please note that receipt of Accelerated Death Benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should consult with the appropriate social services agency and seek the advice of a qualified tax advisor.
The “Accelerated Death Benefit” option is available to help terminally ill insureds during a difficult, and often financially challenging time. Under this provision you may request one advance payment equal to 75%, but not more than $250,000, of a qualified terminally ill person’s in force life insurance to be paid while that person is still alive.
The request must be made at least 12 months prior to the insured person’s scheduled coverage termination age and the amount of insurance payable after the insured’s death will be reduced by this payment. (Premium contributions will not be reduced.) If a scheduled reduction in coverage will occur within one year of the date the Accelerated Death Benefit will be paid, the benefit payable will be 75% of the reduced coverage amount.
For additional details and limitations, please see the Certificate of Insurance.
