What is Term Life insurance?
Even with insurance coverage from your employer, your family might not be fully protected if something happens to you. Member Term Life Insurance can provide financial support to help them maintain the lifestyle they’re used to when you’re gone, by providing a benefit that can be used to cover costs like a mortgage, funeral, or anything else they might need.
The SBOT Term Life Insurance plan.
As part of your SBOT membership, you’re eligible for up to $500,0001 of coverage at exclusive rates, with no intrusive tests—simply answer a few health questions. Plus, coverage is issued by The Prudential Insurance Company of America, a trusted name for over 150 years.
Plan features designed for attorneys.
FAQs.
Who is eligible to apply?
All members of the State Bar of Texas are eligible for the Member Term Life plan, plus your spouse or domestic partner and dependent children up to age 26. That includes legally adopted children, stepchildren, foster children who depend on you for support and maintenance, and grandchildren who are considered dependents for federal income tax purposes.
How much coverage do I need?
You can get coverage in increments of $100,000 up to a maximum of $500,000. Use the Life Insurance Calculator for help in estimating the right amount for your family.
Can I access benefits while I’m still alive?
Yes. The Accelerated Benefit Option (ABO)2 is included at no cost to the member. With ABO, you may use 75% of your coverage amount to a maximum of $500,000 to help pay medical costs, pay off your mortgage, or take the vacation of a lifetime if you are terminally ill with a life expectancy of 12 months or less. This option applies to both member and dependent coverage. Also, a member who cannot perform at least “2” Activities of Daily Living (ADL’s) for at least “90” calendar days or have a Severe Cognitive Impairment can receive up to “25%” of their ABO up to a maximum of “$250,000”.
Need more information?
Download the plan brochure for more information on features and rates.
This site may contain marketing language, on products issued by The Prudential Insurance Company of America, that has not yet been approved in all states.
1 For information on coverage amounts over $500,000, please call Member Benefits at 1-800-282-8626.
2 Accelerated Death Benefit option is a feature that is made available to group life insurance participants. It is not a health, nursing home, or long-term care insurance benefit and is not designed to eliminate the need for those types of insurance coverage. The death benefit is reduced by the amount of the accelerated death benefit paid. There is no administrative fee to accelerate benefits. Receipt of accelerated death benefits may affect eligibility for public assistance and may be taxable. The federal income tax treatment of
payments made under this rider depends upon whether the insured is the recipient of the benefits and is considered terminally ill or chronically ill. You may wish to seek professional tax advice before exercising this option.
Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
Group Term Life Insurance coverage is issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. The Booklet Certificate contains all details, including any policy exclusions, limitations, and restrictions, which may apply. Contract Series: 83500. CA COA #1179, NAIC #68241
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