What is the difference between Union Plus Term-to-70 and 10-Year Term Life plans?
• The Term-to-70 Term Life plan sets its rates in 5 year age bands. No matter how your health changes over time, you will be able to maintain coverage from one band to the next. It is the best option for those members who want to know what their insurance premiums will be in the future. • The 10-Year Term Life plan is for members who want coverage at a lower cost for a set 10-year period. It is best for members seeking to increase their coverage during a period when they need the most protection – for instance the years when the mortgage, college tuition and other payments are at their highest. • The Term-to-70 Term Life plan allows members to continue coverage until age 70 without re-application; those who have the 10-Year Term Life plan need to re-apply and go through underwriting for a new 10-year coverage period. In the event that members do not qualify for a new 10-Year coverage period, they will be issued annual renewable term coverage with rates that are applicable to that polic
