Iowa Bankers Association Iowa Bankers Mortgage Corporation
Iowa Bankers Insurance
and Services
8800 NW 62nd Avenue
PO Box 6210
Johnston, IA 50131
Toll-Free: 800-532-1423
Fax: 515-286-4214

IBBP Customer Service:
    800-258-1415
125 Claim Fax:
    515-286-4244
IBBP Billing Fax:
    515-286-4369

Agent Customer Service:
    800-775-8858

Group Term Life Insurance

Group Term Life Insurance

The Iowa Bankers Benefit Plan (IBBP) offers group term life (GTL) insurance through Standard Insurance Company of Portland, Oregon. The Standard has provided group term life, short term disability, and long term disability insurance to IBBP members since 1991. The IBBP currently provides GTL coverage to nearly 8,000 employees.

Iowa Bankers Insurance and Services, Inc. (IBIS) manages all the administrative functions for the life insurance plan, including customer service and contracts with Standard Insurance Company for claims processing.

Group Term Life Insurance

As a fundamental element of any benefits package, group term life insurance helps you protect your loved ones from financial hardships related to an untimely death. Group term life insurance is the easiest and least expensive way to obtain life insurance. Your employer may offer the following term life insurance plans: basic term life, supplemental term life, dependent term life, director term life, and retiree term life.

Basic Term Life Insurance

All basic term life coverage is guaranteed, which means you cannot be refused coverage because of a prior medical condition. The basic life insurance plan also includes accidental death and dismemberment (AD&D) coverage, which pays benefits in the event of loss of life, limb, or sight due to an accident. As a complement to your group term life insurance, AD&D gives you added peace of mind.

Supplemental Term Life Insurance

If your employer offers GTL insurance, you may have the option of increasing your basic term coverage by an additional one to three times your annual salary up to a maximum of $200,000 in supplemental life coverage. Since premiums for supplemental life are lower than for other traditional life products, the program is an affordable way for you to gain additional life insurance coverage. Note: Evidence of insurability is required for two and three times the annual salary and for late enrollment.

Dependent Term Life Insurance

If your employer offers GTL insurance, you may have the option of purchasing affordable dependent term life coverage for your spouse and eligible children at group rates. For a small premium, you can purchase $25,000 of dependent term life insurance on your spouse and $10,000 on each dependent child under the age of 23. Evidence of insurability is not required for dependent children. Dependent term life is a very affordable program, and dependents cannot be denied coverage regardless of medical history. Spouse plans are also available for $35,000 and $50,000 with evidence of insurability.

Contact your employer’s plan administrator for information about group term life insurance coverage. If your employer offers GTL insurance through the IBBP, contact IBIS Customer Service at 800-258-1415 if you have questions about your coverage.
 
FrontierMEDEX Travel Assistance

IBBP group life insurance coverage includes FrontierMEDEX Travel Assistance, a worldwide medical assistance service that provides an additional sense of security when you and your family members travel more than 100 miles away from home or internationally. A single phone call can provide assistance with medical care situations and legal or other emergencies that arise during travel. You don’t have to enroll in FrontierMEDEX Travel Assistance. If you are covered by IBBP group life insurance, you are automatically covered. Family members, including your spouse or domestic partner and dependent children, are also covered. For more information, click here to go to the FrontierMEDEX brochure or click here to go to the FrontierMEDEX flier.

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Mid America Banking Insurance Services, Inc., a subsidiary of IBIS, provides insurance programs to banks outside of Iowa. 

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Iowa Bankers Mortgage Corp. (IBMC) offers the products & experience Iowa banks need in the secondary mortgage market.

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The Iowa Bankers Association (IBA) is dedicated to serving Iowa banks and their employees.

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