TMG Insurance Services, LLC dba The Mutual Group

Life has its twists and turns, and the only thing you can really expect is the unexpected. That’s why being prepared for the future is important. While it’s not easy to think about what would happen to your family if you were gone, it doesn’t have to be complicated.

Here’s how life insurance works

Life insurance helps you put the people in your life first. If something were to happen to you, your life insurance proceeds would go to the people you’ve designated as your beneficiaries. Those funds can help them manage financial obligations, such as:

• Immediate expenses - funeral and medical bills
• Ongoing expenses - mortgage/rent and daily living expenses
• Future expenses - paying off debts or college funding

Materials

• Group Term Life Benefit Summary (PDF)
• Voluntary Term Life Benefit Summary (PDF)

You protect your home, your car and even your life.  But what about your income? You depend on your income for everything. So what if an illness or injury affected your ability to work? How would you pay your bills?  Without an income, the money you’ve managed to save may need to be used for things like mortgage or rent and daily expenses.

Materials

• Benefit summary (PDF)

Protecting your income may not be a top priority, but maybe it should be. How long could you pay the bills if your income suddenly stopped?

Think of disability insurance as your personal safety net. If you’re too sick or hurt to work, you can rely on it to replace a portion of your income. That means you can focus on taking care of yourself, instead of worrying about how you’ll pay the bills. And since your benefit checks are sent to you, you decide how to spend your benefit – whether that’s on a big-ticket item, everyday expenses or anything in between.

Did you know accidents aren’t usually the cause of a disability? Instead, illnesses—like heart disease or cancer—cause most long-term absences.

Materials

• Benefit summary (PDF)

Individual Disability Insurance

Group disability insurance is a good base of coverage, but is it enough? Depending on your income level, you may need to protect even more of your income by supplementing your existing group disability coverage with individual Disability Income (DI) insurance from Principal^®. Working together, these coverages help protect more of your most valuable asset - your ability to work and earn an income.

If you participate in Voluntary Term Life insurance, you have the option of porting the coverage in lieu of conversion. You select the amount of coverage you wish to maintain. Proof of good health is not required unless you elect to increase your coverage amount. The minimum amount of coverage you may continue is $10,000.

You may also elect to continue coverage for any covered dependents if you continue your coverage. Proof of good health is not required unless you elect to increase a dependent's coverage amount.

To continue this insurance coverage, complete the Portability Application. It's not necessary for you or your former employer to complete the "Employer to Complete" section, as that information has already been provided to the insurance carrier.

The portability rates are included on the Rates document.Please refer to your certificate of coverage regarding any limitations and termination provisions for this coverage. If you no longer have a copy of this, one will be provided upon your request. You must apply for this coverage within 60 days of losing coverage.

• Portability Application (PDF) - enter account number 1189775
• Rates (PDF)
• Compare portability and conversion (PDF)

After completing the application, send it and your check for the first month's premium to the address listed on your application. You'll then receive a letter from Principal Life explaining your coverage amounts and benefits as well as when and how to make future direct premium payments.

Individual Purchase Rights (conversion) allow qualifying individuals previously covered under Group Term Life and/or Voluntary Term Life policies, to buy individual life insurance coverage without proof of good health. Coverage is provided through an individual Life Insurance policy issued by Principal Life Insurance Company and Principal National Life Insurance (except in NY). Dependents may also convert their Voluntary Term Life coverage independent of the employee's conversion. The minimum amount of coverage you may convert is $1,000 to the maximum amount of insurance you had under your former employer's policy.

Follow these steps to enroll:

1. Review the application instructions/rate sheet for your state (see table below) and the group life conversion FAQ sheet (PDF).
2. Complete the application for individual life insurance—group conversion for your state (see table below). Enter group account number: 1106307 in the “Employer to Complete” section.  Other than account number, it’s not necessary for you or your former employer to complete this section.
3. Mail the completed application and your first premium to the address listed on the application.

You have 31 days after the date your group coverage ends to convert coverage without proof of good health. Conversion rates will be based on your current age and smoking status.