Standard Insurance Company offers Group Term Life insurance to the State of Maryland employees and their dependents. You are in good company – 15 states and hundreds of cities, counties and school districts across the country rely on The Standard for group insurance.1
The State of Maryland offers their employees and dependents the opportunity to purchase Group Term Life insurance at very competitive group rates. See the State of Maryland Group Term Life Insurance brochure and certificate for more detailed information.
You have the opportunity to apply for up to $50,000 in coverage for yourself automatically, without having to complete any medical forms. Your spouse and child(ren) may also be covered, up to $25,000, without any medical forms.
If you apply for coverage in excess of $50,000 for yourself, or in excess of $25,000 for your dependents, the excess, above $50,000 (or $25,000 for spouse or children), will be subject to medical underwriting approval. This means you and/or your dependents must submit a Medical History Statement to The Standard for approval of amounts above $50,000 (or $25,000 for spouse and children).
Life coverage is sold in units of $10,000, to a maximum of $300,000. Dependents Life insurance coverage is also available in units of $5,000, to a maximum of $150,000. However, the maximum amount of dependent coverage can not exceed 50% of your Group Term Life amount.
If your needs change, as a result of a family status change, you can request to change the amount of coverage. Increases in coverage may require evidence of insurability. Evidence of insurability is required for amounts above $50,000 for you and above $25,000 for your spouse and child(ren). This means you must submit a Medical History Statement for amounts above $50,000 (or $25,000 for spouse and children). Please note that all other requests for changes in coverage can only be made during the annual open enrollment period.
With premiums deducted directly from your paycheck, you don't have to worry about mailing monthly payments.
Typically, group insurance rates are lower than the rates of individual insurance plans, generally providing you with coverage at a lower cost.
You can take comfort and satisfaction in knowing that you have done something positive for your family's future.