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Term "Plus" Universal Life Plan helps dentists insure themselves and save money

April 21, 2014

By Kelly Soderlund, ADA News staff

Dr. Koppikar

Phoenix—Dr. Sameet Koppikar did the smart thing with his life insurance purchase. In his quest to save wherever he could, he turned to the ADA and quickly realized the value of membership.

Dr. Koppikar, 39, was familiar with the ADA Term Life Plan, which has been the flagship of the ADA Members Insurance Plans since 1934. But what really interested him was the ADA Term "Plus" Universal Life Plan, which combines term life coverage with a tax-deferred savings benefit.

Dr. Koppikar was attracted to the competitive interest rate paid on Term Plus premium deposits, which currently yields a more lucrative return than traditional bank savings or certificate of deposit. Under the ADA Term Plus Plan, members under age 65 can apply for up to $3 million in term life insurance and earn 2.7 percent interest on their premium deposits through year-end 2014.

Because it's tax-deferred, that's equivalent to approximately 4.2 percent, assuming a 35 percent tax bracket. The ADA Term Plus Plan interest rate is guaranteed never to fall below 2.5 percent and is reviewed annually by the insurance company Great-West Life & Annuity Insurance Company to ensure the plan remains competitive in the market.

Dr. Koppikar also liked the fact that the life insurance is renewable up to age 90, and his savings can continue to build. The ADA Term Plus Plan also affords flexibility by permitting any needed saving withdrawals without penalty any time after the first year of coverage. For Dr. Koppikar, who practices in Phoenix, it's a plan that pays for itself.

"It was pretty cost-effective compared to other plans, and it was really easy to apply for," Dr. Koppikar said. "If you have a decent amount of money in the savings account, the interest you get back pays for some of the premium. Instead of keeping a savings account in a bank, you can keep some savings in this plan and it keeps the out-of-pocket cost of the premiums down."

"The ADA Term Plus Universal Life Plan is a tangible member benefit which provides insurance cost value and savings," said Dr. Robert A. Coleman, chair of the ADA Council on Members Insurance and Retirement Programs. "We encourage members to request a personal plan illustration to see how it compares to what's in their portfolio and consider taking advantage of this particular ADA member benefit."

The ADA-sponsored Term Plus Universal Life Plan is just one of the five group ADA Members Insurance Plans designed exclusively for ADA members.

For more information about the ADA-sponsored Term Plus Universal Life Insurance Plan costs, coverage terms, conditions and limitations, call an insurance plan specialist at 1-888-463-4545 or visit