What is Amerigroup Life Insurance?
Amerigroup life insurance is a supplemental product that pairs with the company's health‑care plans. It provides a death benefit to beneficiaries when a member dies, helping cover funeral costs, outstanding medical bills, or financial support for dependents.
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Coverage Options and Plans
Amerigroup offers two primary life insurance tiers:
- Basic Term – A fixed‑rate term plan covering up to the policy's face value for a set period, usually 10 or 20 years.
- Enhanced Term – Includes riders such as accidental death, disability, or accelerated death benefits for terminal illnesses.
Term Lengths and Limits
| Term Length | Maximum Coverage | Typical Premium Range |
|---|---|---|
| 10 Years | $50,000 | $10–$30/month |
| 20 Years | $100,000 | $20–$60/month |
Eligibility and Underwriting
Enrollment requires:
- Active Amerigroup health plan membership.
- Age between 18 and 70.
- Basic medical screening (no extensive medical exam for term policies).
Underwriting focuses on age, smoking status, and overall health. Premiums adjust accordingly.
Benefits of Adding Life Coverage
Adding life insurance to a health plan:
- Provides a financial safety net without a separate policy.
- Can be bundled with other benefits, reducing administrative costs.
- Offers tax‑advantaged death benefits that are generally income‑tax‑free to beneficiaries.
How to Apply and Manage Your Policy
Prospective members can apply online through the Amerigroup member portal or by calling customer service. Once approved, policy details are emailed, and payments can be set up as a debit from the health‑plan premium. Policyholders may review or update beneficiaries quarterly and can cancel with a 30‑day notice.