It may seem too good to be true, but this offer is as straightforward as it sounds. Sign up for ADA Term Life coverage while you're a dental student, and get the coverage at no cost for up to four years. All you have to do is enroll.
The offer is simple: You get $50,000 of life insurance coverage under the ADA Term Life Plan — the same Plan that insures more than 100,000 people (including ADA members, dental students, and their families) each year. Your premiums are paid for by the other participants in the Plan; there is no cost to you until the year after you graduate from dental school — and that's only if you choose to keep your coverage.
One dentist says:
I started thinking seriously about my financial responsibilities when I got married, and most certainly when the house and family came along. Free life insurance just made sense; when you have assets to protect and debts to cover, it's irresponsible to do otherwise.
There's absolutely no risk when you sign up for the free coverage. As long as you are under age 40 and enroll before May 1 of your final year of dental school, you are guaranteed to get this coverage. You will never have to undergo a medical exam to get or keep this insurance, and you cannot be denied coverage, regardless of your health, as long as you satisfy the eligibility requirements. Please note: If you are over age 40, proof of insurability will be required before your free coverage can go into effect.
This is a no-hassle, no-pressure opportunity. And there are no strings attached. We promise: No agent will ever contact you with a high-pressure sales pitch for insurance. We won't share your name with anyone (even ASDA or the ADA). You are not obligated to continue this insurance or purchase anything. And you can cancel your coverage at any time.
Everyone needs life insurance at one time or another. Life insurance is one of the cornerstones of sound financial planning, and it can give you a lot of options for future financial flexibility. For example, any life insurance coverage you have in place can automatically serve as collateral for loans — like a practice loan, a home mortgage, or even new car financing — and it's a big advantage to have insurance in place before you apply for any loan.
If you have student debt, you may also have a need to protect your loved ones from potentially inheriting that debt. If you are married and have children already, you know the importance of providing for your family's safety and security. But even if your family consists of only your parents, a life insurance policy can help them repay your debts if you should die prematurely.
As an investment in your future as a dentist, the ADA makes $50,000 in life insurance available to all ASDA members and ADA student members. It's simply the ADA's way of ensuring you get some basic protection as a professional dentist. Enrolling is easy, and the coverage is provided at no cost so you don't have yet another financial obligation while in dental school.
Student coverage is issued under the ADA Term Life Plan, which is underwritten and administered by Great-West Life, and paid for by Plan participants. Once Great-West Life receives your enrollment form, your coverage will be active and in force. Great-West Life will mail you a Certificate of Insurance to keep with your important papers or give to a family member for safekeeping. You will then receive a statement every six months to confirm that your insurance is in force. Your free coverage and any additional coverage you purchase will continue without interruption and without re-enrolling as long as you remain an ASDA member and predoctoral student.
If you should die while your coverage is in force, Great-West Life will pay your beneficiary the face amount of your coverage (e.g., $50,000). You designate your beneficiary on your enrollment form, although you may change your beneficiary at any time. We encourage you to update your beneficiary designation if you get married or have a child, since it is a binding legal contract and cannot be changed without your consent.
The younger you are, the more likely you are to die by accident than by natural causes. That's why your free insurance also includes $50,000 of Accidental Death coverage, also provided at no cost to you. The Accidental Death provision could essentially double the benefit paid to your beneficiary if you should die in an accident. Please note: Certain limitations apply to the Accidental Death benefit, which are described in the Certificate of Insurance mailed to all participants.
If you ever choose to purchase extra life insurance under this Plan, you will have the option of electing Accidental Death coverage for that insurance too. It can add tremendous value for a nominal additional cost, and is therefore recommended by the ADA as a smart and inexpensive way to enhance your insurance coverage.
Most insurance plans require you to medically qualify for coverage. But with this offer for ASDA members, you do not have to satisfy any medical requirements or take any medical tests (as long as you're under age 40 when you enroll). In fact, you'll never have to medically qualify for this coverage, even years after you graduate from dental school.
It's rare to get an offer for life insurance without any medical exams, so it's a smart move to take advantage of this one. Besides, future changes in your health could make you ineligible for insurance at standard rates, or make it impossible for you to obtain coverage at all. That's why there's no time like the present to activate your free ADA coverage.
There are a lot of compelling reasons to activate your free life insurance, but here's one more: You can keep this insurance after you graduate. In fact, your coverage will continue without interruption — and still at no cost to you — through December 31 of your graduation year. At that time, you can renew your coverage simply by paying the low renewal premium. Under the ADA Term Life Plan, you can keep your coverage throughout your professional career — all the way to age 81. You must simply pay your insurance premiums and remain an ADA member to continue your coverage under this group plan.
Because the ADA knows your need for financial security increases upon graduation, your free coverage will automatically increase to $100,000 on July 1 of your graduation year and remain free for another six months. This "gift" coincides with the growing financial obligations and responsibilities that come at this time in your life. You do not have to qualify medically for this additional life insurance — you will automatically get the extra coverage simply by participating in the Plan.
To help make it even more affordable to keep your insurance coverage after the free period ends, the ADA offers Post-Doctorate Discounts to dramatically reduce the cost of your ADA Term Life insurance. That's because the ADA knows you need every break you can get.
Beginning January 1 of the year following your graduation, and continuing for a total of 3 years, your insurance premiums will be reduced by 50%, meaning you would pay just half the Standard rate for your life insurance. (Please note: This Post-Doctorate Discount applies to the first $100,000 of coverage only.) Another way to look at it: You can have $100,000 of life insurance for the same price you'd normally pay for $50,000 in coverage. You do not have to be enrolled in a post-doctorate program to qualify for these discounts. Post-Doctorate Discounts allow you to save on the coverage you need while you get established professionally, and are only available to individuals who participated in the Plan as dental students.
If you need more protection while you're in school, you can pay the same low rates that ADA members pay. You can apply for up to $450,000 in extra coverage — for a total of $500,000 in ADA Term Life insurance — any time during your first three years of dental school. And starting in your graduation year, you can request up to the Plan's maximum of $2,000,000 in life insurance to prepare for your transition into dentistry.
You can also request life insurance for your immediate family members under the ADA Term Life Plan. Your spouse or Domestic Partner can apply for up to the same amount of coverage you have, up to $750,000. And your eligible dependent children, once enrolled, are all automatically covered with $10,000 of life insurance — one low premium provides coverage for all of your eligible children.
Rates are based on each participant's age, and are lower than most comparable life insurance policies. Contact us at 866-607-5338 or ada@gwl.com for a free quote or insurance consultation without any obligation. Or click here to download an application for more ADA life insurance. Please note: Any additional insurance you request will be subject to proof of good health.
You can obtain $50,000 in free ADA Term Life coverage as long as you are an ASDA member (or ADA student member) and actively attending classes as a predoctoral student at an accredited dental school. Coverage is guaranteed without medical pre-qualification if you are under age 40 and enroll by May 1 of your final year in dental school. (If you are 40 or older, proof of good health will be required.)
All you have to do is complete and return an enrollment form — it only takes a minute. Your coverage will be active as soon as your enrollment form is received by Great-West Life.
Please check Legal Notices for more information pertaining to this Plan.