Group Term Life

The Reliance Standard Voluntary Group Term Life (VG) plan offers employees an excellent opportunity to purchase Term Life Insurance for self, spouse and children on a payroll deduction basis.

Contact your Reliance Standard representative for a complete explanation of our Group Life and VG plans and their specific features. Need to find a representative near you click here.

Important Plan Features

  • Incremental coverage from $10,000 to $500,000 for employees and spouses
  • Guaranteed issue amounts for employees — often for spouses, too
  • Dependent child(ren) coverage (guaranteed issue)
  • Employee can elect spouse-only or spouse and dependent children-only coverage
  • Accelerated Death Benefit included
  • Waiver of Premium included
  • Portability and conversion included
  • Tobacco user/Non-Tobacco user rates may be available
  • Five-year, age-banded rates


Eligible employees are all active full-time employees working at least 30 hours per week. For employer groups sitused in VT, the employee must be under age 75 to apply. An eligible employee may apply for Dependent Insurance for his/her legal spouse under age 70, and eligible dependent children as defined (may vary by state). A person may not have coverage as both an employee and as a covered dependent. Only one insured spouse may cover eligible children. The employee or spouse must be insured for children to be insured. An employee may not elect children-only coverage.

Guaranteed Issue (GI) and Amounts Above GI

If an eligible employee applies for coverage within the initial enrollment period (31 days of becoming eligible), an amount of coverage may be automatically accepted as follows:

  • Under age 70 - As dictated in plan design
  • Age 70 or older - No GI

  • Under age 60 - As dictated in plan design
  • Age 60 or older - No GI

Dependent Children
  • tandard children benefit amounts are always GI

Applications for insurance over GI, or applications made beyond the first 31 days of becoming eligible, are subject to evidence of insurability submitted to and approved by Reliance Standard. Coverage for dependent children begins at birth in some states.

Benefits Employee and Spouse Benefits

The employee chooses from a minimum of $10,000 to a maximum of $500,000 (in $10,000 increments) for self and spouse. The benefit amounts chosen need not be the same. Dependent Children: The employee chooses one benefit amount for all covered children six months of age or older (dependent children coverage includes a $1,000 benefit for children 14 days to six months old). The options are either $2,500/$5,000/$7,500/$10,000 or $5,000/$10,000/$15,000/$20,000. The voluntary group term life plan contains an employee benefit reduction schedule (not applicable for employer groups sit used in VT). According to this schedule, an employee’s Amount of Insurance reduces to: 60% at age 75; to 35% at age 80; to 27.5% at age 85; to 20% at age 90; to 7.5% at age 95; and to 5% at age 100. This reduction schedule also applies to those employees applying for insurance coverage at age 75 or over. Spouse coverage does not reduce, but terminates at age 75.
For employer groups sitused in VT, the employee must be under age 75 to apply, not applicable to GL. Termination will not affect a claim for a covered loss that occurred while coverage is in effect. The insurance coverage an employee elects for self and/or dependents will end when any of the following occurs: Premium is not paid as required; The employee no longer meets the eligibility requirements; The employer’s participation in the plan ends; The employee exercises the full Conversion Privilege; The master Group Policy terminates. Additionally, the coverage on any insured dependent will end when: The dependent no longer meets the definition of an eligible dependent; The dependent exercises the Conversion Privilege; The insured spouse reaches maximum age; The date the Insured enters military service.