Group Term Life Plan Details

Peace of Mind

Your most valuable asset is your earning power. Where would those who depend on you find the funds to pay the mortgage, taxes, car payments, and educational expenses if you were not there to help provide for their financial future? How long could your family get by without your income? For your peace of mind, The Trust recommends Group Term Life insurance.

How much life insurance do I need?

Life insurance needs vary depending upon your situation. Keep in mind - you may need a substantial amount of insurance to replace your current earnings, and even more if future earnings potential is taken into account.

Here's how it works

Using the Life Insurance Planning Worksheet1 you can estimate your current need for additional life insurance. For instance, if your annual earnings amount to $50,000 per year, you may want to consider a death benefit of $300,000. Let's say that you already have other life insurance coverage equal to $150,000. Your application should be for $150,000 of new coverage making the total death benefit $300,0002.

What kind of insurance should I buy?

It makes sense to buy what you need! Term insurance is very cost effective coverage. It is designed to provide a benefit payable on death without any investment or savings components. Term insurance may be a suitable option for those who have other means of savings at their disposal such as through their pension, 401(k) plan or tax sheltered annuity.

What does it cost to buy the level of coverage I need?

You'll be surprised how little it costs to protect your family's financial well-being! For instance if you are age 35, $250,000 of Trust Group Term Life insurance costs just $97.50 twice per year! Group rates are shown for other ages and policy sizes in the brochure and are based upon attained age at time of issue and increase in five-year age brackets.

Who may apply for Trust Group Term Life insurance?

The Trust's Group Term Life insurance plans are underwritten by Liberty Life Assurance Company of Boston, a Lincoln Financial Group Company3. You are eligible to apply if you are a psychologist and are under age 65. Your spouse under age 65 is also eligible and may apply as long as you are insured. Unmarried dependent children under the age of 24 may also apply for $2,000 of coverage.

How much coverage can my family and I apply for?

Pyschologists­ may apply for as much as $1,000,000 of coverage in multiples of $10,000. Minimum policy size is $10,000.

Spouses­ are eligible to apply for as much as $1,000,000 of coverage in multiples of $10,000. Minimum policy size is $10,000.

Children­ $500 from 15 days of age to one year.

Unmarried dependent children age 1-24 $2,000.

Comprehensive Plan Design

Lincoln's Living Benefit4 ­ This additional feature of the policy includes important flexibility that allows for the early payment of some or all of your death benefits from your life insurance coverage if you become terminally ill. If a licensed physician certifies that your life expectancy is 12 months or less, up to 50% of the amount of life insurance selected (up to $100,000) will be payable to you. The amount paid is not discounted for interest due to early payment of the benefit.

Inflation Safeguard ­ This feature allows you to annually purchase additional coverage to prevent inflation from eroding the death protection of the coverage. Each November 1, after the initial effective date of coverage, you can purchase 10% of the initial face amount of insurance, providing you exercised this option the previous November 1, you notify Lincoln in October, and you fill out the required forms. Premiums for the additional coverage will be added to your bill.

Waiver of Premium Benefit ­ If you are under age 65 and become totally disabled according to the terms of the certificate for a period of nine consecutive months, your premium payments may be waived. Accidental Death and Dismemberment as well as Inflation Safeguard benefits are suspended during this period.

Accidental Death and Dismemberment (AD&D) ­ For an additional premium, you or your spouse can purchase this valuable additional protection. In the event of death by accident, AD&D pays an additional death benefit equal to the amount you select, subject to exclusions and limitations. AD&D also pays an additional benefit in an amount you select in the event of loss of both hands, both feet, sight of both eyes, one hand and one foot, or one foot and the sight of one eye. It will also pay half of the amount you select in the event of the loss of one hand, one foot, the sight of one eye, speech, or hearing.

Have any questions? Call toll-free (844) 228-2480. You may also call The Trust toll-free at (800) 477-1200.

General Information

How to Apply ­ Your acceptance into the plan for initial requests and all requests for increases are subject to providing satisfactory evidence of insurability except under the Inflation Safeguard Option. It is extremely important that you answer fully the medical history on the application and on all forms submitted. Lincoln relies on your answers and failure to supply complete information may invalidate coverage. You may be requested to take a simple physical exam. This will be paid for by Lincoln if the request is for coverage of $100,000 or more. The insurance will not become effective until the first day of the calendar month following the date Lincoln determines that such evidence is satisfactory.

Premium ­ Annual premium is due each November 1. Semi-annual premiums are due each November 1 and May 1. In the event that you enter the plan on any premium due date other than November 1 or May 1, the premium will be prorated to the next premium due date. Any changes in benefits and/or rates normally occur on the anniversary date of the group policy which is November 1.

Change of beneficiary ­ You may designate a change of beneficiary for your Life insurance plan at any time by writing the Administrator of The Trust Group Insurance Plans at:

American Insurance Trust Administration
Lincoln Financial Group
100 Liberty Way, Suite 100
Dover, NH 03820

If you have any questions, please call (844) 228-2480.

When there is a claim ­ Detailed information regarding claims procedures is issued with the certificate.

Plan limitations ­ The Life insurance benefit will be paid for death from any cause except suicide committed within the first two years of coverage.

Accidental Death and Dismemberment coverage excludes:

  • Suicide or any attempt thereat, while sane or insane;
  • Intentionally self-inflicted injury;
  • Disease or sickness, or related medical or surgical treatment;
  • Ptomaines or bacterial infection except through a visible wound accidentally sustained;
  • War or any act of war, declared or undeclared;
  • Accidental injury sustained during any travel or flight in any aircraft, except as a fare paying passenger on a regularly scheduled commercial flight;
  • Drugs that are voluntarily taken, ingested or injected, unless as prescribed or administered by a physician;  
  • Active participation in a riot or committing or attempting to commit an indictable offense.

Termination of Insurance

When coverage ends, your insurance will cease on the earliest of the following dates:

  • The date the master policy held by the Trustees is canceled;
  • The date you fail to make any agreed payment of premium within the 31-day grace period; 
  • The anniversary date of the policy following your 75th birthday.

Dependents' insurance will cease when:

  • The member dies or ceases to be insured;
  • The date you fail to make any agreed payment within the 31-day grace period;
  • The anniversary date of the policy following the 75th birthday of an insured dependent spouse;
  • A dependent child attains age 24;
  • A dependent child marries; 
  • The marriage of the member terminates.

Reduction of Insurance

If a Covered Person’s amount of Life Insurance and Accidental Death and Dismemberment Insurance is more than $50,000, such amount will be reduced to $50,000 on the first November 1 next following their 70th birthday.


This plan is underwritten and administered by the Liberty Life Assurance Company of Boston, a Lincoln Financial Group Company. A Group Life Insurance policy has been issued to the Trustees of The Trust. Each participating psychologist receives a certificate outlining the benefits to which they are entitled under the policy.

The descriptions here are necessarily brief and are subject to provisions that can only be expressed exactly in the certificates of insurance. Your certificate contains more information on exclusions, limitations and reduction of benefits.

1 This calculator is intended to provide a general estimate of your potential life insurance needs and is not meant to be financial advice. We encourage you to seek professional guidance in determining the type and amount of life insurance that best suits your situation. Lincoln Financial is not responsible for the results of, or your reliance on this calculator.
2 All benefit payments are subject to the terms and conditions of the policies.
3 Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.
4 The receipt of accelerated or “living” benefits may be taxable. Insureds and/or covered spouses should seek assistance from a personal tax advisor before applying for this benefit.