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Life Insurance

Protect your family’s financial future

You don’t always know what’s on the horizon. RPB offers term life insurance to help you protect your family financially, in case the unthinkable happens.

As an RPB retirement plan participant, you’re eligible for free term life insurance—our Basic Life Insurance—and accidental death and dismemberment (AD&D) coverage. You also have the option to purchase additional insurance coverage—Optional Term Life Insurance—that has competitively priced premiums based on your age.

Your life insurance options

Basic Term Life Insurance Accidental Death and Dismemberment (AD&D) Optional Term Life Insurance (OLI)

Eligibility

You work for an eligible Reform Movement congregation or employer.

You contribute at least 10% of your salary to your retirement plan annually. The contribution can come from your employer, your own elective salary deferral, or both.

You work for an eligible Reform Movement congregation or employer.

You contribute at least 10% of your salary to your retirement plan annually. The contribution can come from your employer, your own elective salary deferral, or both.

You must have Basic Term Life Insurance through RPB before you can purchase additional insurance.

OLI coverage must be renewed each year.

Coverage

Coverage is equal to 1x your annual salary, up to a maximum of $50,000.

Coverage is equal to 1x your annual salary, up to a maximum of $30,000.

At enrollment: Without a Statement of Health form, coverage can be up to 2x your annual salary, with a maximum coverage limit of $300,000.

At any time: With a Statement of Health form, coverage can be up to 5x your annual salary, with a maximum coverage limit of $600,000.

Contact us for a Statement of Health form.

Premium Rate (Cost)

Free through RPB

Free through RPB

Dependent on age bracket (see below for details).

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Ensure you have sufficient coverage.

RPB’s optional term life insurance can help you meet some or all of your life insurance needs.

Calculating the cost of optional life insurance

Follow these three simple steps to determine how much additional life insurance will cost you annually. (For each step, we’ve included an example calculation.)

Be sure to designate your beneficiaries!

Use our Life Insurance Beneficiary Designation Form and Addendum to name the beneficiary(ies) of your life insurance benefits.

Multiply your annual salary (including parsonage, if applicable) by the multiple of salary you’re requesting in additional life insurance.

Example
If you’re a 40-year-old participant with a $75,000 annual salary and you want OLI worth 3x your salary coverage:

$75,000 x 3 = $225,000

Multiply the total from step 1 by the coverage rate for your age bracket from the table below.

Example
$225,000 x $1.908 = $429,300

Divide the total from step 2 by 1,000. This is the cost of your annual premium.

Example
$429,300 / 1,000 = $429.30

Annual Rates per $1,000 of Life Insurance Coverage
Age Bracket Coverage Rate

Under 30

$0.864

30-34

$1.056

35-39

$1.320

40-44

$1.908

45-49

$3.228

50-54

$5.544

55-59

$9.432

60-64

$12.984

65-69

$20.880

70-74

$38.148

75-79

$63.444

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Coverage when changing jobs

As long as you work for an eligible Reform Movement congregation or employer, your RPB insurance coverage travels with you. If you change jobs and your employer is ineligible, you can convert your RPB life insurance policies to an individual MetLife policy within 31 days of your termination date.

Ready to set up another safety net?

Our long-term disability insurance can help protect you in the event of a disabling injury.

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