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  • Simplified Issue Life Insurance now available: Members and spouses** may qualify for Simplified Issue Life Insurance if applying for coverage amounts of $150,000 or less. Simplified Issue applicants only need to answer three health questions satisfactory to the insurer. Amount and age limitations apply to Simplified Issue applications. Maximum amount and ages are as follows: $150,000 under age 50; $100,000 under age 55; $50,000 under age 60. Download the Simplified Issue application to apply.
  • Life Insurance You and Your Family Can Count On: Group Term Life insurance coverage is the purest kind of life insurance, with no costly savings features. Here’s level term life insurance you can depend on for a full 10 years with premiums that are designed to not go up and benefits that will not go down.* You can renew coverage up to age 80, subject to policy provisions.
  • Available to IMA Members and Spouses** Age 70 or Under: With the IMA Group 10–Year Level Term Life Insurance Plan, you can help protect your family from the unnecessary financial burdens of your or your spouse’s** premature death.
  • Renewable Until Age 80: You can renew your life insurance under this Plan until age 80, subject to all policy provisions.
  • High Amounts of Member and Spouse** Coverage: Build a plan to meet your needs, from $200,000 up to $1,000,000 (in $5,000 units).
  • Economical Group Rates That are designed to Remain the same for 10 Years*: Compare the premiums for the IMA Group 10–Year Level Term Life Insurance Plan with similar level term life plans on the market today. You may be surprised at how much life insurance you can afford.
  • Take Advantage of Discounts: The Plan features "Super Preferred" or "Preferred" rates, which most non-tobacco-using IMA members may qualify for. In addition, you can benefit from volume discounts when you apply for higher amounts of insurance.
  • Send No Money Until You’re Approved by the Insurer
  • Convenient Monthly Payment Option: A Preauthorized Check Payment Plan option offers a time–saving convenience.
  • Portable Coverage: The Plan can follow you throughout your career. Make all the career changes you want and still maintain this coverage. As long as you remain an active member of the IMA, pay your premium when due, and the group policy remains in force, you can keep your coverage until age 80.
  • Living Benefit ("Accelerated Life Benefit"): Enables you to apply for a portion of your life insurance benefits if you qualify as being terminally ill, subject to certain policy restrictions and limitations. These benefits are paid directly to you, and you may spend them any way you wish. You must have at least $20,000 of coverage in force to exercise this option. Receipt of accelerated benefit payments may be taxable. Assistance should be sought from a personal tax advisor.
  • Travel Assistance: You will be covered under the Voya Travel Assistance program at no cost to you. When traveling more than 100 miles from home, Voya Travel Assistance offers you and your dependents four types of services: Pre-Trip Information, Emergency Personal Services, Medical Assistance Services, and Emergency Transportation Services. Voya Travel Assistance Services provided by Europ Assistance USA, Bethesda, MD.
  • Waiver of Premium : Your coverage will continue premium-free if you are totally disabled as defined in the certificate, for 180 days prior to age 60.
  • Accidental Death & Dismemberment Benefit (Optional Coverage): You can purchase up to the amount of life insurance coverage you select.

Life insurance coverage is provided under the terms of a group life insurance policy, Group Policy 65972-0 issued and delivered in the state of Missouri, and governed by its laws, to the Institute of Management Accountants Life Insurance Trust as the policyholder. The group life insurance policy is issued by ReliaStar Life Insurance Company, Minneapolis, Minnesota. The policy is administered on behalf of ReliaStar Life Insurance Company by Mercer Consumer, an insurance administrator licensed in the state of Missouri. Policy Form LP08GPMO.

This is a Paid Endorsement. The Institute of Management Accountants receives a fee from the insurance broker and/or the insurer for its endorsement of this plan.

*The initial premium will not change for the first 10 years unless the insurance company exercises its right to change the premium rates for all insureds covered under the group policy with 60 days advance written notice.

**In Oregon, spouse includes domestic partner.

Forms Library

ELIGIBILITY

Available exclusively to IMA members age 70 or under, who may request coverage for themselves and their lawful spouses** age 70 or under.

A person may be insured as a member or spouse**, but not both.

Unmarried, dependent children ages 14 days to under 19 years (25 if full–time students) are eligible for $5,000 or $10,000 of coverage.

This coverage is available only to residents of the United States and may not be available in all states. Please contact the administrator for details.

APPLY FOR UP TO $1,000,000 OF COVERAGE
Choose the amount of Group 10–Year Level Term Life insurance you need to help protect you and your family for the next 10 years–without the worry of premiums that could go up or benefits that could go down.*
Amounts Of Insurance:
Members–$200,000 to $1,000,000 in $5,000 increments.
Spouse**$200,000 to $1,000,000 in $5,000 increments.
Children–$5,000 or $10,000

PLAN FEATURES

Pay Less If You’re a Qualified Non-user of Tobacco
Tobacco non-users meeting the highest underwriting standards may qualify for the "Super Preferred" (the Plan’s best) rates that follow. Other tobacco non-users may qualify for "Preferred" rates.

Continuing Insurance After the 10–Year Term Ends
Premiums are designed to remain level for the first 10 years of coverage*. At the end of the 10–year period, you may elect to reapply for 10–year level term rates then in effect for a subsequent 10–year period, provided the insured person is age 70 or under and otherwise eligible. If your application for a subsequent 10–year term of level rates is approved by the insurer, your premium contribution will be based on your age, health and tobacco–use status at the time coverage becomes effective and remain level for a new 10–year term.*

If you and your spouse** are not approved for a subsequent 10–year term of level rates, or you do not apply for a subsequent 10–year term, coverage will continue in force on a non–level rate basis, under which premium contributions increase as the insured ages in 5-year age bands.

Keep Your Cost Manageable
Rates have been provided on an annual basis per $5,000 of coverage to make it easier for you to compare this Plan with other insurance plans on the market today. Four modes of payment are available to suit your budget: quarterly billing, semiannual billing or annual billing; and our Monthly Pre–Authorized Check Payment Plan.

Your Cost
The cost of this life insurance is based upon the member and spouse’s** gender, amount of insurance requested, usage of tobacco/nicotine products, health status, and attained age on the date coverage is issued. Premium contributions will vary depending upon the options chosen.

Only tobacco non-users meeting the highest underwriting standards will qualify for "Super Preferred" or "Preferred" rates. (Note: tobacco users may qualify for "Tobacco" rates.) Upon approval of your application by the insurer, you will be notified of the rate classification for each approved person.

Click here to view Rates

Send No Money Now!

All you need to do is return the completed application. You will be billed for the appropriate premium upon approval of your application by the insurer.

OTHER IMPORTANT INFORMATION

Accelerated Life Benefit This important plan option gives you the ability to collect part of your IMA Level Term Life benefits before your death if you are diagnosed with a terminal illness. If your doctor diagnoses you with a life expectancy of 12 months or less, you can collect from 25 percent to 75 percent of your benefits (or $50,000, whichever is less) before you die—to use however you wish.

(Note: A doctor–certified terminal illness means an illness from which no recovery is expected, that results in a life expectancy of 12 months or less. You must have at least $20,000 of coverage in force to exercise this option.)

This money can be used to help cover high prescription drug costs…medical bills…outstanding debts…to help pay for experimental treatments…the cost of modifications to your home…or for a family vacation—the choice is yours.

Please note that receipt of Accelerated Life Benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should seek the advice of a qualified tax advisor.

Waiver of Premium

If you become totally disabled, as defined in the certificate, for 180 days or longer before age 60 your coverage and benefits will continue at no cost to you until the earliest of the end of your disability or until you reach age 80.

Accidental Death & Dismemberment Benefit (Optional Coverage)

You can purchase Group Accidental Death & Dismemberment up to the same level of the Level Term Life death benefit for which you are applying. This benefit may prove valuable when you consider that unintentional injuries are the #1 cause of death for Americans under age 44.* In addition, if you are seriously injured in a covered accident and sustain loss of limb, eyesight or other injuries, a partial benefit may be payable.

(Please note: Semi-annual rates are $.60 per $5,000 of coverage if under age 65; $.90 per $5,000 if ages 65-80.)

1National Safety Council, Injury Facts 2017 Edition, page 12.

Exclusions

You’re covered 365 days a year, wherever you are. (The only exclusion for life insurance is suicide within the first year of the date your insurance or increase in insurance starts. AD&D and Accelerated Life Benefits are subject to additional exclusions.)

You Name Your Beneficiary

You may name anyone you wish as the beneficiary of this plan, and you may change the beneficiary by contacting the Insurance Administrator in writing and advising them of the change.

You may also choose to name a beneficiary that you cannot change without his or her consent. This is an irrevocable beneficiary.

ADDITIONAL PLAN PROVISIONS

Effective Date

Your or your spouse’s** insurance will become effective the first day of the month on or after the later of the following dates:

  • ReliaStar Life approves your or your spouse’s** proof of good health;
  • Your or your spouse’s** premium is received;
  • You or your spouse** become eligible for insurance; or
  • You or your spouse** apply for insurance, if proof of good health is not required.

When Coverage Ends

As long as you remain an active member of the IMA, pay your premium when due, and the group policy remains in force, you can keep your coverage. For members or spouses** who are under age 70 at the end of a level term period, coverage will not reduce. At the end of a level term period, beginning on and after your 70th birthday, your amount of insurance will reduce.

Your insurance stops on the earliest of the following dates:

  • from your 70th birthday to age 75, ReliaStar Life pays 80%
  • from your 75th birthday and after, ReliaStar Life pays 55%

Coverage terminates at age 80.

A decrease in the amount of insurance due to age will take effect on the later of the premium due date after your attainment of any of the specified birthday's or at the end of a level term rate period. Your amount of insurance will not decrease due to age during a level term rate period.

Renewal Payments and Claims

Once you are approved into the Plan, you will have a 60–day grace period for your payment of renewal premium contributions. When you want to submit a claim, call or write the Administrator for claim forms.

Certificate of Insurance

This is a summary of benefits only. A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of coverage. All coverage is subject to the terms of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern.

When you become insured, you will be sent a Certificate of Insurance detailing your benefits under the Group Policy.

30–Day Free Look

If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it within 30 days provided no claims have been submitted or paid. Your coverage will be invalidated and you will be sent a full refund–no questions asked!

PLEASE KEEP FOR YOUR RECORDS

All members and spouses** must complete an application form for any new coverage or to increase coverage (including dependent coverage) or to begin an initial or subsequent 10–year Level Term Rate Period when proof of good health is required. Some applicants may be required to have a medical exam in order to apply for coverage. For more information on medical requirements, please contact your Plan Administrator. If there is an increase in the amount of your insurance, the increase will take effect on the first day of the month on or next following the date of the increase. If you are in a Level Term Rate Period, premiums for the increased amount of insurance will be based on your attained age on the effective date of the increase. Your IMA Level Term Life Plan will start on the first day of the month after your application has been approved by the insurer and your first premium has been paid.

Life insurance coverage is provided under the terms of a group life insurance policy, Group Policy 65972-0 issued and delivered in the state of Missouri, and governed by its laws, to the Institute of Management Accountants Life Insurance Trust as the policyholder. The group life insurance policy is issued by ReliaStar Life Insurance Company, Minneapolis, Minnesota. The policy is administered on behalf of ReliaStar Life Insurance Company by Mercer Consumer, an insurance administrator licensed in the state of Missouri. Policy Form LP08GPMO.

This is a Paid Endorsement. The Institute of Management Accountants receives a fee from the insurance broker and/or the insurer for its endorsement of this plan.

*The initial premium will not change for the first 10 years unless the insurance company exercises its right to change the premium rates for all insureds covered under the group policy with 60 days advance written notice.

**In Oregon, spouse includes domestic partner.

Answers about the plan, including eligibility, options, enrollment, customer service and more.

This plan is underwritten by ReliaStar Life Insurance Company, under Group Policy No. 65972–0.

Available exclusively to IMA members age 70 or under, lawful spouses* age 70 or under and unmarried dependent children ages 14 days to 19 years (25 if full-time students). In order to become insured, satisfactory evidence of insurability must be provided to the insurer and the required premium must be paid.

This coverage is available only to residents of the United States and may not be available in all states. Please contact the administrator for details. 

Members–$200,000 to $1,000,000 in $5,000 increments
Spouses*–$200,000 to $1,000,000 in $5,000 increments
Children–$5,000 to $10,000

You or your spouse’s* insurance will become effective the first day of the month on or after the later of the following dates:

  • ReliaStar Life approves your or your spouse’s* proof of good health;
  • Your or your spouse’s* premium is received;
  • You or your spouse* become eligible for insurance; or
  • You or your spouse* apply for insurance, if proof of good health is not required.

Pay Less If You Are a Qualified Tobacco Non-User Tobacco non-users meeting the highest underwriting standards may qualify for the "Super Preferred" (the Plan’s best) rates. Other tobacco non-users may qualify for "Preferred" rates.

As long as you remain an active member of the IMA, pay your premium when due, and the group policy remains in force, you can keep your coverage. For members or spouses** who are under age 70 at the end of a level term period, coverage will not reduce.  At the end of a level term period, beginning on and after your 70th birthday, your amount of insurance will reduce.

Your insurance stops on the earliest of the following dates:

  • from your 70th birthday to age 75,  ReliaStar Life pays 80%;
  • from your 75th birthday and a after, ReliaStar Life pays 55%;

Coverage terminates at age 80.

A decrease in the amount of insurance due to age will take effect on the later of the premium due date after your attainment of any of the specified birthday's, or at the end of a level term rate period. Your amount of insurance will not decrease due to age during a level term rate period.

You’re covered 365 days a year, wherever you are. (The only exclusion for life insurance is suicide within the first year of the date your insurance or increase in insurance starts. AD&D and Accelerated Life Benefits are subject to additional exclusions.)

The Accelerated Life Benefit option is available to help terminally ill insureds during a difficult and often financially challenging time. Under this provision you may request an advance payment from 25 percent up to 75 percent (or $50,000, whichever is less) of your (or your insured spouse’s*) current life insurance coverage.

This money can be used to help cover high prescription drug costs … medical bills … outstanding debts … to help pay for experimental treatments … the cost of modifications to your home … or for a family vacation–the choice is yours.

(Note: A doctor–certified terminal illness means an illness from which no recovery is expected, that results in a life expectancy of 12 months or less. You must have at least $20,000 of coverage in force to exercise this option.)

Please note that receipt of Accelerated Life Benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should seek the advice of a qualified tax advisor.

When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the Plan. If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it within 30 days provided no claims have been submitted or paid. Your coverage will be invalidated, and you will be sent a full refund–no questions asked!

Issuance of this insurance is handled over the internet and the mail. You can review the materials in the privacy of your home and purchase your insurance directly through the mail without meeting with a salesperson.

We're here to help! Please contact us in whatever manner is most convenient for you.

Program Administrator:

Mercer Consumer
12421 Meredith Drive
Urbandale, IA 50398
1-800-448-3436
ima.service@mercer.com
7:30 am to 4:30 pm M-F (Central)

Application Mailing Address:

IMA Group Insurance Program
P.O. Box 10374
Des Moines, IA 50306-8812

Insurance Company:

ReliaStar Life Insurance Company
20 Washington Avenue South
Minneapolis, MN 55401-1900

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