Royal Arch Masons of Tenn Life Insurance: Coverage, Eligibility, and Claims

What Is Royal Arch Masons of Tenn Life Insurance?

Royal Arch Masons of Tennessee (RAMT) provide life insurance as a member benefit. The policy is a group whole life plan offered through the organization's insurance partner, typically a state‑licensed carrier. It combines a death benefit with a cash value that grows at a fixed rate, allowing members to build a modest investment component while protecting beneficiaries.

Eligibility and Enrollment

To qualify, an individual must:

• Be a current Royal Arch Mason of Tennessee in good standing.
• Hold a valid membership card and have been active for at least six months.
• Complete a medical questionnaire or, for certain age brackets, a simplified medical review.

Enrollment usually occurs during the annual membership renewal period. New members can apply within the first 30 days of joining, while existing members can add coverage or increase the death benefit by submitting a request to the membership services office.

Coverage Options and Premiums

The standard policy offers a base death benefit of $25,000, which can be increased in increments of $5,000 up to $100,000. Premiums are level for life and are calculated based on age, sex, and health status at the time of enrollment. For example, a 40‑year‑old male in good health might pay approximately $30 per month for a $25,000 benefit, while a 60‑year‑old female might pay $45 for the same amount.

Cash Value Accumulation

Cash value grows at a guaranteed rate of 2.5% per annum, compounded annually. Policyholders can access the cash value through withdrawals or policy loans, subject to a maximum of 80% of the accumulated value. Loans accrue interest at the carrier's loan rate, typically 4.5% to 5.5%. Early repayment reduces the loan balance and interest burden.

Benefits for Beneficiaries

Upon the insured's death, the death benefit is paid tax‑free to the named beneficiaries. The policy also includes a waiver of premium rider: if the insured becomes disabled, premiums are waived for the duration of the disability. Additionally, a guaranteed issue rider is available for members over 65, allowing coverage without a medical exam.

Claims Process

Filing a claim requires the beneficiary to submit a completed claim form, the original death certificate, and proof of relationship. The carrier's claims team verifies documentation within 10 business days. If the policy is in full force, the death benefit is paid within 30 days of claim approval.

Common Questions

• Can I add a spouse? Yes, a spouse can be added as an additional insured at no extra cost, provided they meet the eligibility criteria.
• What happens if I lapse? A lapse occurs if premiums are not paid within 90 days of due date; the policy then enters a grace period. Failure to cure the lapse within the grace period results in policy cancellation and loss of benefits.
• Is there a surrender value? Yes, the surrender value equals the accumulated cash value minus surrender charges, which decline over time.

Choosing the Right Policy

When evaluating the RAMT life insurance, consider:

Conclusion

Royal Arch Masons of Tennessee life insurance offers a reliable, group‑based coverage solution with predictable premiums and a built‑in cash value component. By understanding eligibility, benefits, and the claims process, members can make informed decisions that align with their financial planning goals.