Programs & Services - Life Insurance

Benefits of the RPB life insurance coverage include:

• Basic life insurance is free for participants who have an annual RPB pension contribution of at least 10 percent of salary.
• Eligible participants may remain under RPB life insurance as long as they continue to pursue a career with an eligible Reform Movement congregation or employer.
• Eligible participants can purchase optional life insurance coverage equal to two times their salary up to $300,000 without completing a Statement of Health form.

RPB participants who have a combined annual pension contribution paid on their behalf of at least 10 percent of salary (including parsonage, if applicable) through their congregations/employers are eligible for free basic life and accidental death and dismemberment (AD&D) insurance coverage from the RPB. The 10 percent contribution can originate from either the employer or the participant (via elective salary deferral) to qualify for the free benefit. The benefit is equal to one times annual salary (including parsonage, if applicable) up to $50,000. The AD&D insurance program has a maximum benefit of $30,000.

RPB participants who have a combined annual pension contribution paid on their behalf of at least 10 percent of their salary (including parsonage, if applicable) by their congregations/employers are eligible to purchase optional life insurance. This insurance coverage, which is in addition to the free basic life insurance coverage, can be purchased in increments of up to five times salary to a total maximum amount of $600,000. Participants enrolling in the pension plan for the first time may purchase life insurance coverage equal to two times salary up to $300,000 without completing the insurance carrier’s Statement of Health form. Participants who want to purchase life insurance coverage in an amount greater than two times salary up to $300,000 must complete the insurance carrier’s Statement of Health form and be approved by the insurance carrier for the coverage.

Participants who decide to increase their life insurance coverage, or who decide to purchase optional life insurance at a later time, will have to complete the insurance carrier’s Statement of Health form. Participants can request the form by contacting Ingrid Aponte, Participant Account Manager, at the RPB office. Upon notification of approval by the insurance carrier, the RPB will send an invoice to the participant for the premium that is due. Once the payment is made, the insurance policy will be in full effect.

Yes, there is an option to do so. Please contact the RPB office to notify us that you are terminating your employment so that we can work with both you and our life insurance carrier, MetLife, to update our records and facilitate conversion of the life insurance policy for you.

Outlined below are the life insurance policies for both active and retired participants of the Reform Pension Plan:

• Life Insurance Policy – Active Participants
• Life Insurance Policy – Retired Participants