First Responders
Police, firemen, ex-military, medical personnel, dental personnel. There is a special term life insurance for you.
LIFE INSURANCE: AT WORK OR AFTER WORK
Maximum protection at minimum cost
Do you have life insurance at your job? Whether you do or not, consider this:
1. You may have insurance provided by your employer. When you leave the company, voluntarily or involuntarily, or go on long term disability, your insurance almost always ends.
2. Do you work for an employer that does not provide life insurance?
3. Do you have a plan to pay for your burial expenses if you pass away suddenly?
4. Do you have life insurance at work – think first responders – but does that insurance end when you are off duty?
If you are reading this, you probably qualify for life insurance that is designed for:
• First responders (Law enforcement, Firemen, EMTs, and more)
• Medical personnel (medical, dental, and more)
• Teachers
• Government employees
• Railroad employees
• Airline employees
*Also, spouses of the above
In a nutshell, the policy is called OBA (Officers Benefit Association).
The OBA Policy is a simplified application term life insurance policy that can continue until age 70 and provides maximum protection at a very low cost. If you are between the age of 18 – 65 and you are in one of the above groups, you may qualify with some exceptions based on your health and medications. This is a simple application process that does not require a medical exam.
What is term life insurance?
Term life insurance means that the coverage you receive (and the premiums that you pay) begin and end during a certain time period. In the case of this policy, the term is 10 years. You may extend the term at the end of every 10 years but it will not extend past age 70. The premium (what you pay for the policy) is set at a level amount which you pay monthly.
• You may select coverage for a spouse.
• You may select coverage for children.
Use the rate chart below to estimate your premium.
How can you sign up for this?
1. Find out your premium by looking at the Premiums Chart on page 3.
2. Decide if you would like to select coverage for a spouse and / or children. The spouse costs use the chart on page
3. Find out when the agent will be on site by speaking with your coordinator, or email the agent directly if you are remote. The application process will take about 10 minutes. You will need an ID and your banking information to have your monthly payments drawn from your account.
Questions? email us at Dan@firstlifeprotection.com or call us at (817)-521-1020.
Use the rate charts below to estimate your spouse’s and children’s premium.
How to calculate your total premium per month
1. From the premiums chart, find your age and the “Option” you are using (option A-$50,000, B-$100,000, C-$150,000, or D-$200,000.
2. If you selected “Option A” the spouse amount is an additional $2.50 per month because you can use “1 Unit” only.
3. If you selected “Option B” the spouse amount is an additional $2.50 OR $5.00 per month because you can use “1 Unit” or “2 Units”.
4. If you selected “Option C” the spouse amount is an additional $2.50, $5.00 OR $7.50 because you are allowed up to “3 Units”.
5. If you selected “Option D” the spouse amount is an additional $2.50, $5.00, $7.50, OR $10.00 because you are allowed up to “4 Units”.
6. Children: each child will be covered up to age 23 with “1 Unit” per child for $.71.
Example:
You are age 25 and female, non-smoker.
You have selected “Option B- $100,000” death benefit. Your monthly base premium is $13.00.
You have selected a spouse to be covered. The spouse if also 25 years old. You decide to use “2 Units” for that person. This will add an additional $5.00 per month.
You have two children below the age of 23. This will add an additional $.71 for each child, totaling $1.42.
Your total monthly premium (what you pay to the insurance company) is $19.42
Your death benefit = $100,000
Your spouse’s death benefit = $60,000 (includes accidental death)
Your children = below 6 months of age ($1,000) above 6 months to 23 ($7,000)
Your policy lasts for 10 years for this pricing. You may renew your policy after each 10 year cycle. After each 10 year period the premium will go up, but you do not have to do any medical exams or requalify in any way