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Hagan Associations

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Term Life Insurance FAQ

  • What kind of life policy is this?
  • It is a term life policy.
  • Are the premiums level?
  • The premiums are level for five years and will change at the 0 or 5 birthdays (example: age 30, 35, 40, 45).
  • Can I purchase this on my family?
  • Yes, you can purchase coverage on your spouse for up to $250,000 and $5,000 on your children.
  • Do I need to name my spouse as beneficiary?
  • No, you may select anyone as a beneficiary.
  • Do I need to be an ACEP member to enroll?
  • Yes, you must be and remain an ACEP member to continue coverage; however, you can convert coverage.
  • Is there a waiver of premium option?
  • Yes, after you have been on disability for six months you are eligible.
  • When applying for coverage will I need to get a physical?
  • Blood and urine tests may be requested along with medical records and an attending physician statement (APS).
  • What premium modes can I select from?
  • We offer Direct monthly ACH, Monthly, Quarterly, Semi-Annual and Annual.
  • How will my beneficiary make a claim on this policy?
  • Claims can be made by calling Hagan Benefits. At that point, we will mail all of the appropriate forms immediately.
  • What forms must a beneficiary complete to receive the insurance benefit?
  • The forms include a general claim form for the beneficiary, an attending physician statement and a request for a certified death certificate.

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