Life Insurance
A national survey of benefits
offered in nonprofit organizations clearly demonstrates that larger
organizations are more likely to provide reasonably priced group
life insurance to their employees. Only 29% of organizations with
budgets under $250,000 offer life insurance, while life insurance
is offered in 98% of organizations with budgets over $10,000,000.
If you've been looking for Group Term Life to offer to your employees,
but have been told that your business doesn't qualify or the premium
is more that you want to pay, Maryland Nonprofits has a solution.
If you are an employer group of 2 or more and a member of the Maryland
Association of Nonprofit Organizations, you are eligible for affordable
Group Life. Maryland Nonprofits sponsors a comprehensive life insurance
program on a guaranteed issue basis exclusively through Gorges &
Co. (Guaranteed issue means that there is no medical underwriting
needed.)
Group Term Life and AD&D:
100%, 200% or 300% of salary (or increments of $10,000) up to a
maximum $130,000. Coverage is guaranteed issue at $15,000, $30,000
or $50,000 depending on the size of your group at time of enrollment.
Monthly premiums per $10,000 of coverage:
| Age 24 or less |
$1.40 |
Age 55-59 |
$8.60 |
| Age 25-34 |
$1.60 |
Age 60-64 |
$13.20 |
| Age 35-39 |
$1.90 |
Age 65-69 |
$20.00 |
| Age 40-44 |
$2.60 |
Age 70-74 |
$38.60 |
| Age 45-49 |
$3.80 |
Age 75+ |
$69.90 |
| Age 50-54 |
$5.70 |
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To enroll, please
email the following information to Alli
Albert:
- Company contact information (address, phone, general email)
- Number of employees that will be covered by insurance
- Hours worked by each employee (must be at least 20+/week)
- Dates of birth for each enrolling employee
For more information,
contact Alli Albert
via email or by calling 443.438.2346.
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