What coverage amounts do you offer for Employee Term Life?
Personal Plans
- Coverage is available in $5,000 increments from $10,000 to $50,000, or
- A flat amount of $100,000, or
- One to eight times annual salary, not to exceed $750,000.
Group Plans
Coverage options are determined by the employer. Please contact the plan administrator.
Can my spouse apply for Spouse Term Life coverage?
Personal Plans
Yes — but only if you apply for employee term life. A spouse cannot carry more than half of the employee's coverage (max $250,000).
Group Plans
The spouse does not have to apply for term life if it is offered by the employer. Please contact your plan administrator.
What will my monthly rate be for Child Term Life?
The monthly rate for $10,000 of child life coverage is 75 cents total, regardless of the number of children covered. This means if you have three children your total monthly rate would be 75 cents. Each eligible child will have $10,000 in coverage.
What is a Personal Accident Plan?
This is a plan that pays you or your beneficiary if you die or suffer a specified loss (eyesight, hand or foot) in an accident.
What is Accidental Death and Dismemberment?
Pays you or your beneficiary if you die or suffer a specified loss (eyesight, hand or foot) in an accident. Benefit equals employee term life amount.
Can my spouse apply for accident coverage?
Yes -- but only if you apply for a Personal Accident Plan as well. The coverage amount will equal 50% of the employee coverage amount. GuideStone does not offer Spouse AD&D coverage.
What is Guaranteed Standard Issue (GSI) (Personal Plans only)?
Guaranteed Standard Issue (GSI) is automatic approval for life insurance in flat amounts or up to four times annual salary. No underwriting is required for GSI amounts. The following criteria must be met for GSI eligibility:
An applicant who is eligible for GSI and applies for five to eight times salary will be set up with four times salary with a GSI effective date. The application will be underwritten for the five to eight times amount. (If approved, the upgrade would be effective on the approval date. If denied, GuideStone will continue to bill for the GSI amount.)