Guidestone Life Insurance: What You Need To Know

GuideStone is a church plan and non-profit entity that provides insurance solutions for churches, ministries, faith-aligned institutions, and Christian households. Their insurance products include health, life, dental, accident, and disability options. They also offer property and casualty insurance to cover buildings, property, and belongings in the event of damage, destruction, or theft. Life insurance is designed to provide a financial safety net for families during their crucial income-earning years, helping to maintain their standard of living. GuideStone's life insurance options include term life insurance and accelerated death benefits.

Term life insurance

Yes, Guidestone does provide life insurance. It offers a full suite of insurance solutions, including life insurance, to protect your people and church insurance to protect your property.

Now, term life insurance provides coverage for a set period, say, 10, 20, or 30 years. It is a popular choice for those looking to save money upfront. Here are some of the main features of a term life insurance policy:

Fixed Term

The most popular choice, fixed term is the most basic version and lasts 10, 20, or 30 years. The premiums remain the same in this plan.

Increasing Term

An increasing term life insurance policy allows you to scale up the value of your death benefit throughout the term. Your premiums will slightly increase over time, and these policies tend to cost more but usually deliver a larger payout.

Decreasing Term

On the other hand, decreasing term life insurance reduces the premium payments over time, which can result in a smaller death benefit. This type of insurance makes sense for those who predict they will have fewer financial obligations as they age.

Annual Renewable

Annual renewable life insurance provides coverage on a yearly basis and must be renewed by the policy end date to continue coverage. The premiums usually increase each time the plan is renewed. This option is best for those in need of short-term coverage, but it can be more expensive.

Group Term

Group term insurance is purchased through your employer and functions as a workplace plan that deems all employees eligible for coverage.

Accident and disability coverage

Accident insurance provides financial protection in the event of a serious injury or accidental death, helping employees and their families manage the associated expenses. This coverage is provided through Unum, a leading provider of group life and accident insurance, and it mirrors the employee's term life insurance benefit, effectively doubling their coverage.

Disability insurance, also provided through Unum, protects employees' income during periods of disability. Guidestone offers a combination of three long-term and three short-term disability plan options to provide maximum protection. These plans replace a portion of the employee's income during their disability and include additional value-added benefits at no extra cost.

With these accident and disability coverage options, Guidestone helps to ensure that employees and their families are financially secure during challenging times, allowing them to focus on their health and well-being.

Health plans

Guidestone provides health plans and insurance products with a range of options, including health, life, dental, accident, and disability coverage. These plans are designed to uphold Christian values and cater specifically to pastors, ministers, and staff members.

Guidestone offers a variety of health plans to meet different needs and budgets. Here are the main types of health plans available:

• Comprehensive Plans: These plans offer a full range of benefits and access to Highmark Blue Cross Blue Shield's (BCBS) nationwide network of providers, providing top-quality PPO coverage and care. This includes the BlueCard PPO program, giving members access to 2 million care providers across the country and worldwide coverage in over 200 countries.
• Consumer-Driven Plans: These are qualified High Deductible Health Plans (HDHPs) that can be paired with a Health Savings Account (HSA). They offer a combination of quality and affordability.
• Protection Plans: These plans offer budget-friendly coverage with scaled-down benefits at a lower monthly cost.
• International Plans: Guidestone works with Cigna International to provide overseas staff with quality care through a fully vetted global network of providers.
• Medicare-coordinating Plans: These plans are designed for retirees, offering convenience and competitive pricing.

Additional Benefits

In addition to the health plan options, Guidestone provides a range of additional benefits to enhance the well-being of its members:

• Vision Coverage: Guidestone offers affordable vision plan options with access to the VSP Choice network, including independent doctors and retail chains.
• Dental Coverage: Guidestone has three dental plan options through Cigna, providing access to a nationwide dental network.
• Term Life Insurance: This provides a financial safety net for families during their crucial income-earning years.
• Accident and Accidental Death and Dismemberment (AD&D) Insurance: This coverage helps with expenses resulting from serious injuries or accidental death, providing additional peace of mind.
• Disability Insurance: Guidestone offers both short-term and long-term disability plans to protect members' income during periods of disability.
• Wellness Resources: Guidestone provides resources and articles on various wellness topics, including risk management, healthy eating, stress management, physical fitness, and mental wellness.

Property and casualty insurance

Guidestone provides a full suite of insurance solutions, including health, life, dental, accident, and disability insurance options. They also offer church insurance to protect the property of churches, ministries, faith-aligned institutions, and Christian households.

Property insurance covers your property and personal belongings, such as your house, car, clothing, furniture, electronics, and valuables. If your personal property is damaged or destroyed by a covered peril, property coverage can help pay to repair or replace them.

Casualty insurance covers your liabilities to others. For instance, if a delivery driver slips and falls on your icy driveway, the liability portion of your home insurance may pay for your legal fees if the driver takes you to court. If you cause a car accident, your car insurance liability coverage, or casualty coverage, helps you pay for the other driver's expenses, including vehicle repairs and medical expenses.

Although property coverage and casualty coverage are technically different types of insurance, they are usually bundled together and sold as a single policy. Even the most basic homeowners, auto, and renters insurance policies include both property and casualty coverage.

Scenario 1: A visitor falls inside your home and fractures their leg. If the fall is due to your negligence, you could be liable for their medical bills and pain and suffering, regardless of whether the person has insurance. Property and casualty insurance protection provided by your homeowners policy can help cover these costs so you won't have to pay out of pocket.

Scenario 2: An individual is unable to work after sustaining an injury on your property. If someone is injured on your property and you are found liable, you could be held accountable for their lost income. Property and casualty coverage could help you avoid paying out of pocket for the individual's lost wages, up to the covered limits of your policy.

Scenario 3: You are sued by a visitor who was injured in your home. If you are sued by an individual injured on your property, you will likely have to pay for legal fees, which can be costly. If you have property and casualty insurance, your insurance provider may cover these legal fees during the dispute.

Scenario 4: Your home is vandalized and damaged. Property and casualty insurance covers your structure, property, and belongings in the event of vandalism, theft, and more. If a thief breaks into your home, you are protected up to your covered limits under your homeowners insurance policy.

Scenario 5: Your home is damaged by a covered weather incident. Property and casualty insurance provides financial protection in the event of a covered weather incident, such as a fire. Remember to read your insurance policy closely, as the types of weather and natural disasters covered by home insurance vary depending on your location and policy type.

Eligibility requirements

GuideStone is a church health plan initially chartered by the Southern Baptist Convention (SBC) that has expanded to offer coverage to the wider evangelical community. It offers a variety of health plans designed to match your budget and health care needs.

To be eligible for GuideStone's Personal Plans, an individual must meet the following two conditions:

• Be a paid employee of an eligible church, agency, or institution affiliated with or sharing common religious bonds with the Southern Baptist Convention.
• Work 20 or more hours per week.

Eligible employees may enroll in a medical plan without providing evidence of good health if they experience one of the following special enrollment events:

• New employment: New employees are eligible to enroll in a plan on their first day of work at an eligible employer.
• Work schedule increase: New employees whose work hours increase to 20 or more hours per week are eligible to enroll in a plan on their first day of work at an eligible employer.
• Adding a dependent: Current employees who add a dependent through marriage, birth, or placement for adoption become eligible to enroll on the date the dependent was legally added.
• Loss of other coverage: Employees who have lost other coverage must submit an Evidence of Good Health Application when applying for Personal Plans coverage.

It is important to note that individuals who work for an employer with 10 or fewer paid employees may apply for coverage by submitting the Evidence of Good Health Application at any time. Employees of employers with more than 10 employees must experience one of the special enrollment events listed above to enroll. These employees may also be eligible to enroll in the employer's group plan.

Frequently asked questions