These benefits allow the policy owner to accelerate a portion of the life insurance death benefit when certified by a physician as chronically or terminally ill. Those extra “living” benefits can be used to help pay expenses from an unexpected medical crisis and help alleviate the worry of future financial problems.

• Insurance up to $500,000, not to exceed 5x employee’s salary as indicated in the policy
• Guaranteed tax-deferred interest rate of 3%
• Children and Grandchildren insurance available
• Employee maximum issue age up to 80 years old
• Portable/Convertible option for job change or retirement

Riders Included:

• Accelerated Death Benefit for Terminal Condition
• Waiver of Monthly Deductions for Layoff or Strike
• Child Term Insurance
• Accelerated Death Benefit for Living Benefit

Employee Eligibility
To be eligible for insurance, an employee must satisfy all of the following requirements:

• be age 16 through 80.
• be on active service, performing in the usual manner all of the regular duties of his or her occupation at one of the places of business where he or she normally works or at some location directed by the employer.
• be continuously employed for the amount of time and working the minimum number of hours per week as you require to be eligible for benefits. These requirements will be defined on the Life and Health Group Application and Agreement.

Spouse Eligibility
To be eligible for insurance, a spouse (or equivalent as defined by state law or otherwise agreed upon between you and us) must satisfy all of the following requirements:

• must be age 16 through 65.
• must be legally married to the employee as determined by the laws of the state in which the employee resides or meet the eligibility
  requirements required by the group to be benefit eligible.
• must not be disabled.
• must not be eligible as an employee under the group policy.

Child UL Eligibility
To be eligible for universal life insurance, a child must satisfy all of the following requirements:

• must be under the age of 26.
• must be an employee’s natural child, stepchild, grandchild, legally adopted child or child for whom adoption proceedings have begun, or a child for whom the employee has been appointed legal guardian.
• must not be disabled.
• must not be eligible as an employee under the group policy.

Child Term Insurance Rider Eligibility
To be eligible for insurance under this rider, a child must satisfy all of the following requirements:

• must be 15 days old and no older than age 25.
• must be an employee’s natural child or stepchild, legally adopted child or child for whom adoption proceedings have begun, or a child for whom the employee has been appointed legal guardian.
• must not be eligible as an employee under the group policy.

This is a brief summary of TransElite Universal Life Insurance underwritten by Transamerica Life Insurance Company (TLIC), Cedar Rapids, IA. TLIC is not an authorized insurer in New York. Policy Form Series TMAC1100-1220 and TCAC1100-1220. Forms and numbers may vary. Insurance may not be available in all jurisdictions. Limitations and exclusions apply. Refer to the policy, certificate and riders for complete details. EB1 3107249 S 09/23

The following products are no longer being offered by the district. The information below is relevant to individual products that were marketed in prior years and continue remain active on payroll deduction in the event you need to reference.