Eligibility Requirements
The SAMBA Term Life Insurance Plan is available to employees of all agencies of the Federal Government who are on active pay and duty status, working at least 20 hours per week and under age 70.
Benefits Offered by the Plan:
If you die:
Your life insurance benefits can help your family meet their expenses after your death. The benefit can be used for whatever their needs
are—mortgage payments, tuition, credit card bills, or any expenses that affect your family.
If you die in an accident:
If you are less than age 65, the Accidental Death Benefit (ADB) pays your beneficiaries an additional benefit if your death is the result of an
accident. The ADB amount matches the amount of life insurance protection you elect.
If you're terminally ill:
If you become terminally ill with a life expectancy of 12 months or less, the Accelerated Death Benefit Option lets you receive up to 75% of your
coverage amount (up to $250,000) while still living. Use the proceeds as you wish—for travel, medical bills or family expenses. Your beneficiaries
will receive the remainder as a death benefit.
Add family coverage:
If you are approved for coverage, you can request life coverage on your eligible spouse and dependent children.
Should your employment change:
SAMBA Term Life Insurance coverage is truly portable—it goes with you no matter where you work. That means that once you are approved for coverage,
the SAMBA Term Life Insurance Plan is yours to keep, even if you change jobs or leave federal employment altogether.
You can maintain your SAMBA Term Life Insurance Plan coverage simply by continuing to make your premium payments,
even if your employment status no longer qualifies you as a member of SAMBA.
Spouse and Dependent Child Coverage
Your spouse can also be covered up to $600,000 not to exceed 100% of your coverage.
Eligible children, up to age 25, are covered at $20,000 each.
Available Coverage Amounts
Coverage up to $600,000
Select the coverage amount that best protects your loved ones. SAMBA Term Life Insurance Plan coverage is available in amounts up to $600,000.
Among other things, the insurance benefit can be used to:
- Provide for your family after your death (mortgage, bills, car payments, etc.)
- Safeguard your children's future (child care, college tuition, weddings, etc.)
- Secure retirement income for your spouse
- Help settle your estate, pay estate taxes and satisfy other final expenses so your family won't be burdened
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