Term Life Insurance

The death of the breadwinner can be financially devastating for a household.

Group Term Life Insurance from The Union Labor Life Insurance Company (Union Labor Life) provides affordable coverage for union members and employees, ensuring that their families will be able to meet financial obligations and maintain financial security in the event of an untimely death.

The Union Advantage

Having served the union market for more than 95 years, we have the experience and knowledge you can trust. In fact, union leaders formed our company at a time when life insurance was often unavailable to union workers. They saw how workers could spend a lifetime providing for their families, only to see the fruits of their efforts wiped away in an instant.

Union Labor Life provided a new level of stability for millions of American workers. Today, we provide Group Term Life and Accidental Death and Dismemberment insurance to nearly 2.7 million union members and their dependents.

Coverage and Funding Highlights

Our experienced team of underwriters and staff provide reliable service, quick policy installations and dedicated customer service that does not end once you enroll. Some of our standard plan design benefits and features include

• A Strike Waiver of Premium for one year during a lawful strike authorized by the union or lockout as a result of a labor dispute exceeding 30 days (not available in all states).
• Workplace Accidental Death Benefit – an additional Accidental Death benefit will be payable should a fatal accident occur in the workplace or while commuting to and from work.
• Choice of 100% employer paid or contributory plans
• Benefit amounts available to fit every plan
• Group burial benefit plans
• Conversion Privilege to individual policies for insureds upon termination or reduction of Group Life Insurance benefits
• We offer several funding options to fit your your budget needs:
  • Fully Insured or Pooled Accounting. Our most popular option available for all size groups, this option provides a guaranteed rate for your benefits regardless of your claims.
  • Experience Rated or Experience Accounting. For larger groups that anticipate low claims experience, this option provides for a year end reconciliation of premium in excess of incurred claims and expenses with the potential for a year end dividend/reimbursement. Deficits may be carried over for up to five years.
  • Retrospective Premium. For very large groups with established favorable experience, this option provides for a monthly billed rate lower than the actual rate with a year reconciliation. If claims are favorable, dividends are returned. If claims are not favorable, we may collect the deficit only up to the actual rates.
  • Administrative Services or Flexible Accounting. An administrative fee equal to our expenses is billed monthly and you only fund claims as they are paid. This provides for greater cashflow.