The Value of Supplemental Life Insurance

To qualify for Guaranteed Issue life insurance,
members must enroll in Supplemental Life coverage by February 15, 2023.

* Members who enroll after February 15, 2023 will be medically underwritten from first dollar.

Calculate your Guaranteed Issue

Member Age
Age of the active member

Member Salary
Annual gross salary of the active member
Max Guaranteed Issue
Your Guaranteed Issue
After age 65
After age 70
Monthly Cost
Your monthly premium

Stability, Safety, Security; In the event that we are no longer around to care for those who depend on us, these are things we can all agree that we want for our families. When the unthinkable happens, who will support your loved ones? In the Fall of 2021, SCMEBF Chairman and the trustees tasked Benefit Consulting Insurance, Inc. (BCI) with designing a life insurance program for both active and retiree plan participants. Now, plan participants have the option to sign up for a life insurance policy that will give them peace of mind.

A term life insurance policy has many benefits and advantages:

  • Term life insurance is an affordable way to provide coverage for your loved ones when they would need it most. Proceeds from a life insurance policy can be used to pay outstanding debts, cover final expenses, or help cover some daily expenditures.
  • Term life is generally less expensive to purchase versus permanent or whole life insurance policies.
  • Term life policies are typically much more flexible in that you can choose when and/or how long you wish to be covered.

Simply put, in exchange for premiums paid you are provided with financial protection for your loved ones.

As a provider of premium supplemental benefits, BCI offers members the opportunity to take advantage of the significantly discounted premiums for Supplemental Term Life coverage with an effective date of March 1, 2023.

Through February 15, 2023, SCMEBF plan participants can enroll for this coverage with no medical exam (Evidence of Insurability) required. While it was important to establish a timeline for plan participants to sign up with no medical exam, any plan participant who misses the 2/15 deadline can still enroll. Also, any plan particpant who enrolls in Supplemental Life coverage can reduce the amount they elected during their Open Enrollment at any time without penalty. Additionally, any Member who enrolls in Supplemental Life coverage can cancel their policy entirely at any time without penalty.

Term life insurance can help safeguard your family in so many ways, including helping to cover everyday expenses, pay off debt, and protect savings. Give yourself peace of mind that those who depend on you will be cared for. Enroll today.

Having a life insurance policy in place gives members and their families financial confidence and stability when they need it most. No matter what lies ahead, a term life insurance policy will ensure that your loved ones’ futures are protected even when you are not around.

As an added feature, SCMEBF participants who sign up prior to February 15, 2023 will not be subject to medical questions or testing of any kind for approval. While we ensure that you will still be able to sign up after February 15, 2023, those who sign up before the deadline will not require medical underwriting.