Supplemental Term Life

Here's what you need to know

What it does for you
Why it's important
When you can enroll
Beneficiary Information
Forms & resources

Supplemental Term Life Insurance delivers valuable, budget-friendly protection designed to supplement any existing coverage and help keep your life insurance on track.

You may have heard the saying, “Life insurance isn’t for the living. It’s for the people they leave behind.”

The reason to consider purchasing this Term Life is simple: to strengthen the financial security you already have in place for your family in the event you (and your income) aren’t there to support them.

Loved ones may rely on you for living expenses like a mortgage or rent, car loan, credit cards, groceries, and more. Your income is also essential for financing savings for future goals such as college for children and retirement. What happens if your “safety net” isn’t large enough?

Once you’re enrolled in this coverage, your family will be protected by an added cushion of life insurance that helps you keep your overall financial security game plan current. Features include:

Cost and convenience. Since you are applying for coverage through your employer’s benefits program, you have access to competitive group rates. The rates may be lower than what you could find for an individual policy. Along with affordable rates, you have the convenience of payroll deduction. Payments are automatically taken from your paycheck on a post-tax basis.
Easy enrollment. Apply within 30 days of your eligibility date.
Guaranteed benefit opportunities available. You can enroll in coverage from 1 to 2 times your annual pay to a maximum of $500,000. If you participate in this program, you can enroll your spouse¹ in the amount of $10,000 and your children in the amount of $10,000 for each eligible child. You must meet eligibility requirements to qualify.
Generous coverage amounts available. You can enroll in coverage from 1 to 8 times your annual pay to a maximum of $2,500,000. If you elect coverage for yourself, you can enroll your spouse¹ in any amount between $10,000 and $100,000 (in $10,000 increments), and $10,000 for each eligible child. You will be required to submit Evidence of insurability.

Over time your needs change, and you want your life insurance to keep current with those changes. You also want it to keep pace with inflation because it can work to effectively decrease the buying power of your existing coverage.

Think of it this way: if a $100,000 policy was enough for your needs 10 years ago, is that same amount enough for your family’s financial needs today?

Here are some reasons to update your coverage:

Do you have any additional dependents (spouse, parent, child) since you last increased your coverage? If so, that means another person to take care of if something happens to you – expenses like food, clothing, medical, education and more.
Have you taken on any additional debt – such as a mortgage, second home, car loan, home equity loan, higher credit card balances, etc.? If so, that means more financial obligations for your surviving family to handle if something happens to you.
Have any other personal circumstances changed? If you’ve gotten a raise or promotion at work, you may want to update your coverage.

One of the best ways to ensure you’re protecting your family adequately is to update your total life insurance coverage sooner rather than later. You don’t want to be in the position of postponing your purchase of more life insurance because you’re in good health today, then get a medical diagnosis down the road that prevents you from getting additional coverage later.

In the event your family does need to access funds, supplemental life insurance provides money quickly and doesn’t come with penalties or downsides that tapping into some investments might have.

The bottom line: updating your total life insurance picture can help ensure your family’s financial security is on track.

There are 4 periods when you are eligible to enroll for Term Life while answering minimal questions:

Within 30 days of your initial eligibility date.
During special enrollment periods as offered by your employer and the insurance provider.
Within 31 days of marriage.
Within 45 days of the birth or adoption of your first child. Coverage for a newborn will begin when the child is 14 days old; however, the application for coverage could be received immediately following the birth.

Keep in mind: You can enroll in this coverage outside of these periods, but you will be required to answer a more comprehensive health questionnaire and submit Evidence of Insurability. Additionally, any increase in coverage after initial enrollment will require EOI.

To see current beneficiary information, click on MY ACCOUNT. Existing beneficiary selections are on the file (historical information is not loaded into the system). Your most recently dated beneficiary designation constitutes the only effective designation

To update beneficiary information please click on MY ACCOUNT to update online.

These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing.

Certificate

Enrollment Form

Privacy Notice

Evidence of Insurability Form

Who is the provider?

Lincoln Financial Group

For over 115 years, Lincoln Financial has been in the business of helping employees protect what matters most to them. Life insurance can provide security for you and your family while protecting your financial future. As an industry leader, Lincoln has the support and expertise to help you navigate life’s important moments.

Who needs life insurance?

Everyone needs life insurance.

Contrary to popular belief, life insurance isn't just for parents. You need life insurance if anyone is financially dependent on you.

You've recently graduated from college.

You may have significant student loan obligations. If something were to happen to you, your loved ones would most likely be forced to shoulder that debt.

You're the parent of young children.

You want to make sure they'll be able to keep the same lifestyle and attend college—even if you're not there to see it happen.

Your grown children are on their own.

Your adult children may rely on you for support and help around the house. If you weren't there for them, your children would need extra money to pay someone to take care of things you've been managing for them.

Your spouse may be depending on your income for retirement.

But you're not sure your retirement savings is enough to keep up with a rising cost of living if your paycheck stopped. Life insurance can be a smart way to fill the gap.

Like many families, you rely on two incomes to make ends meet.

You'll need life insurance on both you and your spouse. Even if your spouse stays at home, you should consider life insurance on your spouse to cover the cost of hiring someone to take care of the things your spouse generally handles.

You want to be sure your children can protect their futures, too.

Most children's life insurance coverage contains an innovative feature that allows them to convert their term life protection to a permanent life insurance plan at a higher premium when they become adults. This ensures that your children can protect their own families—no matter what health problems they may develop.

Who in my family is eligible for this program?
You can enroll if:
- You are actively at work on the date your enrollment form is signed and coverage begins.
- You are scheduled to work at least 20 hours per week.
- You meet the eligibility requirements on the enrollment form.
- Are a U.S. citizen or U.S. permanent resident on U.S. payroll.
You can also enroll these family members:
- Your legal spouse
- Your eligible dependent children or those of your legal spouse

How much does coverage cost?

Your cost is based on several factors, including your age and the amount of coverage you want.

Do I have to take a medical exam?

During initial and special enrollment, you are not required to meet any medical requirements if you are enrolling for up to 2 times your annual pay or $500,000 in total coverage (whichever is less) for yourself or up to $10,000 in total coverage for your spouse or child.

If you are enrolling for any coverage above those amounts, you will be required to complete Evidence of Insurability.

If you enroll outside of the initial enrollment period, special enrollment periods, or a qualified family status change, you will be required to submit Evidence of Insurability.

What if my employment status changes?

Good news! If you leave or retire from your current employer, you can continue your coverage without interruption (subject to applicable law and the plan’s terms and conditions). Although payroll deduction will no longer be available, you can opt for other payment methods such as direct bank account deduction, credit card billing or home billing. Higher rates may apply.

Are there other benefits included with this plan?
Automatic coverage increase.
- Each year on January 1, your employee coverage may go up based on an increase in your annual pay as of the prior July 1.
- Coverage increases automatically just once per program year. You must be actively at work on the effective date of your increase to qualify.
Accelerated benefit rider.
- An advance payment of your life insurance benefits is available if you are diagnosed with a terminal illness with a life expectancy of 12 months or less (may vary by state).
- You can request payment up to 80% of your coverage amount, up to a maximum of $500,000.
- Advance payment permanently reduces the death benefit.
- Premiums must continue to be paid on the remaining coverage amount after an advanced payment.

When would my coverage start?
If you are applying during one of the qualifying enrollment periods and Evidence of Insurability is not required:
- If you apply on the 14th of the month or before, coverage is effective on the first of the month following date of hire.
- If you apply on the 15th of the month or after, coverage is effective on the first of the month following one month of continuous, active employment.
If you are applying outside of the qualifying enrollment periods and Evidence of Insurability is required:
- Coverage is effective on the 1st of the month after coverage is approved by Lincoln Financial Group.

Supplemental Term Life | Lincoln

Supplemental Term Life Insurance

Supplemental Term Life Insurance gives you a valuable layer of financial security that provides an additional safety net for your family.

Here's what you need to know

How It Works

You have life insurance, but need additional coverage for a new baby.

You purchase Supplemental Term Life Insurance.

Frequently Asked Questions

Are you ready To Enroll?