Whole Life Insurance

Whole Life Insurance  

Overview

Most likely you have some life insurance. But is it enough to replace your income and all you mean to your family? Of the people who already have a life insurance policy, 1 in 5 admit they don’t carry quite enough.1

 

With Whole Life Insurance, you can give your family the added financial protection they may need in the event that something unexpected happens, while also saving a little extra for retirement if you don’t use it.

 

  • Coverage amounts for you, your spouse, and your children:
    • For you—If you are under age 50, you may elect up to $125,000; age 51 through age 65 you may elect up to $50,000; age 66 through age 70 you may elect up to $25,000, no health questions required.
    • For your spouse—Eligible for $5,000, no health questions required.
    • For your child(ren) and/or grandchild(ren)—Eligible for $12,500; $15,000; $20,000; or $25,000 in coverage, no health questions required.
  • Early payment of up to 50% of benefits if you're diagnosed as terminally ill.
  • The policy builds cash value which you can borrow against.
  • Tax-free death benefits.

 

1 Fisher, Jason. “2018 Life Insurance Statistics and Facts.” BestLifeRatesorg, 18 Feb. 2019, www.bestliferates.org/blog/2018-life-insurance-statistics-and-facts/.

Enrollment

Add Whole Life Insurance to give your family the added financial protection if an unexpected death happens.


2020 Annual Enrollment
ENROLL NOW

How It Works

Contact Us

 Address
Mercer Consumer
12421 Meredith Drive
Urbandale, IA 50398
 Phone
1-855-290-5661
 Hours
 M-F 9a-6p ET
 Email
customer.service@mercer.com

FAQS

Answers about the plan, including eligibility, options, enrollment, customer service and more.

  • Can I meet with someone one-on-one to get a better understanding of this insurance product?

    Yes, Baystate Health has partnered with the Farmington company during benefits open enrollment. Specially trained Benefits Specialists are available onsite at Baystate throughout the open enrollment period, to assist with questions and help you make informed decisions.
  • Who is the provider?

    Whole Life Insurance is underwritten by ReliaStar Life Insurance Company (Minneapolis, MN), a member of the Voya® family of companies. Voya Employee Benefits is a division of ReliaStar Life Insurance Company.
  • How can this help me?

    Guaranteed protection for your loved ones today and in the future. Most of us have some life insurance. But do you have enough? Here’s an easy way to obtain affordable life protection that’s guaranteed to last your lifetime.
  • Who is eligible?

    All Baystate and Baycare employees who work at least 16 hours/wk or BVNAH employees who work at least 15 hours/week.

  • Who can enroll?

    • You— all active employees:
      • --All Baystate and Baycare employees who work at least 16 hours/wk
      • --BVNAH employees who work at least 15 hours/week.

    • Your spouse*— 15 through 70 years. Coverage is available as long as the employee is eligible to apply, even if the employee chooses not to do so. If both you and your spouse are employees, you may elect to be covered with an employee or a spouse policy, but not both. Each person can only be covered by one policy.

    • Your child(ren)— 15 days through 24 years. Coverage is available as long as the employee is eligible to apply, even if the employee chooses not to do so. Coverage is available to children and dependent grandchildren. Each child/grandchild must be equally insured. If both you and your spouse are covered under the policy as an employee, then only one, but not both, may cover the same children under this benefit. If the parent who is covering the children stops being insured as an employee than the other parent may apply for children’s coverage.

    *The use of “spouse” means a person insured as a spouse as described in the certificate of insurance or rider.

  • When can I enroll?

    You can only enroll in this benefit during Baystate’s benefits open enrollment each Oct-Nov timeframe.
  • When is my coverage effective?

    The effective date of coverage is the date you are eligible to begin filing claims.

    • Your coverage becomes effective on January 1, following the election of coverage. Coverage for your spouse and/or children becomes effective on the same date as your coverage.
  • When/how can I cancel my coverage and when would it take effect?

    You can cancel your coverage at any time by contacting Voya at 1-800-537-5024. The cancellation would become effective as of the date of the request and you would not be able to enroll until a subsequent annual enrollment. Your first or second paycheck after the cancellation is processed will reflect the change and a refund should be issued by Voya within 30 days of the date the cancellation is processed, if applicable.
  • How much will this coverage cost?

    Your cost is based on several factors including your age, tobacco usage, any special features you select, and the benefit amount you want. To get a free, no-obligation online quote, click "Enroll Now".
  • What if my employment status changes?

    When you leave or retire from your current employer, you can continue your coverage without interruption, subject to applicable law and the policies' terms and conditions. Although payroll deduction will no longer be available if you retire or leave your company, you can opt for other payment methods such as direct checking or bank account deduction, credit card billing or home billing. Higher rates may apply.
  • How do I pay for this benefit?

    Payments are made via Baystate Health payroll deduction.
  • What benefit amounts can I choose from?

    • For you—If you are under age 50, you may elect up to $125,000; age 51 through age 65 you may elect up to $50,000; age 66 through age 70 you may elect up to $25,000, no health questions required.
    • For your spouse—Eligible for $5,000 at guaranteed issue, no health questions required.
    • For your child(ren) and/or grandchild(ren)—Eligible for $12,500; $15,000; $20,000; or $25,000 in coverage, no health questions required.
  • Do I need to answer any health questions?

    No, all available benefit levels are guaranteed issue so no health questions are required.
  • Can I use my benefits if I’m terminally ill?

    None of us likes to think about these things, but it’s important that you can also tap into your life insurance death benefit early if you’re ever diagnosed with a terminal illness. That benefit could really help you and your family during a difficult time. An advance payment of your life insurance benefits is available if you are diagnosed with a terminal illness with a life expectancy of 12 months or less.
     

    You can request payment up to 50% percent of your benefit amount, up to a maximum of $150,000. Advance payment permanently reduces the death benefit. Premiums must continue to be paid on the remaining benefit amount after an advanced payment.

  • What does “Paid-up Life Insurance” mean?

    If you buy this policy and continue to pay the monthly cost, after 15 years or at age 65, whichever is later, you’ll have a paid-up life insurance policy for half of the benefit amount that’s yours to keep. This paid-up policy means you can get paid the benefit amount to use however you wish.
  • Does this type of life insurance end when I reach a certain age?

    No, you can keep this policy for your lifetime as long as you continue to pay the premiums. All coverage under this policy will terminate when any of the following occurs:

    • The insured requests to terminate the policy
    • The insured dies
    • The policy matures
    • The loan value exceeds the guaranteed cash value of the policy
  • How do I access a claim form and how do file a claim for benefits?

    1. Visit the Voya.com/claims and click on "Get Started".
    2. Complete the questionnaire.
      This generates a custom claim form package for you.
    3. Download your claim form package.
    4. Complete the form package.
      Have each form completed by the appropriate party, as outlined in the claim form package.
    5. Gather additional documents.
      Collect any additional supporting documents, as instructed on the claim form "for you".
    6. Submit.
      Using your preferred submission method, submit your completed and signed forms, as well as any supporting documents.
      • --To submit online via a secure upload, visit Voya.com/claims and click on "Upload Documents".
      • --To mail or fax your submission, see the top of your custom claims form package.

This is a summary of benefits only. Please review your enrollment materials and any other applicable brochures prior to enrolling in coverage. A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders. All coverage is subject to the terms and conditions of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern. To keep coverage in force, premiums are payable up to the date of coverage termination. Accident Insurance is underwritten by ReliaStar Life Insurance Company, a member of the Voya® family of companies. Policy Form #RL-ACC2-POL-12 or #RL-ACC3-POL-16. Form numbers, provisions and availability may vary by state.

 

Forms

These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing.

 

Whole Life Benefits Guide
Mercer's Role & Compensation

Details of Mercer disclosure of the compensation.