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Members Insurance Plans
QUICK GUIDE
to ADA-sponsored Student Members Term Life and Disability Insurance
FOR D4s ENTERING PRACTICE
AFTER GRADUATION:
1. Your term life coverage doubles in value from $50,000 to $100,000
2. Both your term life and your disability insurance plans continue at no cost through December 31, 2015
3. Both can be converted to your paid plans for practicing ADA member dentists on January 1, 2016
To convert this insurance, simply pay the bill you’ll receive in December and maintain active ADA membership.
KNOW WHAT YOUR COVERAGE CONVERTS TO AND WHEN
LIFE
INSURANCE
ON JANUARY 1, 2016
ON JANUARY 1, 2016
Your ADA Student Members Term Life Insurance can
convert to the following guaranteed coverage amounts:
Your ADA Student Members Disability Insurance
can convert to the guaranteed coverage amounts
of two types of disability coverage:
u
$100,000 of ADA-sponsored Annually
Renewable Term Life Insurance
And you can apply for up to
u
$3 million now
$100,000 of Accidental Death coverage
And you can apply for up to $1 million
DISABILITY
INSURANCE
$2,000/MO.
ADA Members Disability
Income Protection
+
$2,000/MO.
ADA Members Office
Overhead Expense
As a practicing ADA member dentist, you can apply for:
Up to $15,000/MO.
Disability Income Protection
WHY DO YOU NEED THIS?
Up to $25,000/MO.
Office Overhead Expense
WHY DO YOU NEED THIS?
Should you pass away, the lump sum death benefit paid
to your chosen beneficiaries can help pay for:
Mortgage
Education
Future
Lost Income
ADA Members Disability
Income Protection
ADA Members Office
Overhead Expense
• Helps to replace your income
if you can’t practice in
your specific area of dentistry
due to disability
• Helps to reimburse your
practice-related expenses like
student loan payments, if you
can’t practice due to a disability
Both of these plans offer true “own occupation” coverage.
This means you’ll get full benefits, even if you choose to
work in another area of dentistry or in a new profession.
Both ADA Members Annually Renewable Term Life and Disability Income Protection Insurance can:
Serve as collateral for a practice loan AND save you money with ADA member-only premiums
Review your coverage amounts and insurance needs. It’s important.
You can apply for more than the guaranteed coverage amounts. Calculate your needs, review the maximum amounts and
optional coverage, and get an ADA member rate quote at insurance.ada.org.
PLEASE KEEP IN TOUCH
Be sure we can reach you after graduation. Update your contact information in the account section at insurance.ada.org
so that we can send you a conversion offer in December. Have questions? Need a rate quote?
Call your Insurance Plan Specialist at 855.411.5199 (M-F, 8 am to 6 pm, Central Time) or email planspecialist@greatwest.com.
This material is not a contract. Benefits provided under respective Group Policy Nos. (104TLP Term Life, 1108GDH-SDP Student Disability, 1105GDH-IPP Disability Income
Protection, and 1106GDH-OEP Office Overhead Expense Disability) filed in the state of Illinois in accordance with and governed by Illinois law, issued to the American Dental
Association and underwritten by Great- West Life & Annuity Insurance Company. The ADA is entitled to receive royalties from the ADA Members Insurance Plans. Each
insured receives a Certificate of Insurance explaining the terms and conditions of the respective policy. Individuals may convert coverage to the plans for practicing dentists
after graduation by paying ADA member premiums and maintaining ADA membership. Term Life premiums increase annually based on age. Disability Income Protection
premiums increase every 5 years and Office Overhead Expense every 10 years based on age. Premium credit for Term Life is not guaranteed but reevaluated annually.
Premium credit for Disability Income Protection and Office Overhead Expense is not guaranteed but reevaluated semi-annually. Great-West Financial® refers to products
and services provided by Great-West Life & Annuity Insurance Company.
ADA® is a registered trademark of the American Dental Association.