|
What Is LEVEL II ‘PLUS’ TERM Insurance?
Level II ‘Plus’ Term is a term life insurance plan which
provides a level death benefit at a guaranteed level premium.
plan. Ideal protection for specific short-term needs or long-term
coverage for those over 50.
provides a level death benefit at a guaranteed level premium.
Level Term At A Glance
Coverage and premiums remain the same for the life of theplan. Ideal protection for specific short-term needs or long-term
coverage for those over 50.
- Guaranteed level coverage
- Guaranteed fixed premiums for the life of your plan
- Flexible plan – determine the coverage and time period to meet your needs
- Protection terms available up to age 85
- Premium discounts available for good health and low-risk lifestyles
- Convertible option to whole life, without a physical
- Early payout for the terminally ill insured
Level II ‘Plus’ Term Coverage
Compare these rates before making your decision:- You pick the coverage amount and time
- Individual coverage can last up to age 85
- Male and female rates
- Rate will NEVER increase for the life of the policy PLUS the death benefit with NEVER decrease
Sample premiums for 10 Year Level II ' PLUS' Term Coverage*
Coverage Amount | ||||||
$250,000 | $500,000 | $1,000,000 | ||||
Age | Male | Female | Male | Female | Male | Female |
45 | $12.50 | $12.25 | $25.00 | $24.50 | $43.00 | $42.00 |
50 | $20.00 | $16.75 | $40.00 | $33.50 | $68.00 | $60.00 |
55 | $33.25 | $25.25 | $66.50 | $50.50 | $125.00 | $94.00 |
60 | $53.75 | $35.75 | $107.50 | $75.50 | $206.00 | $138.00 |
Actual Premiums may be higher after medical underwriting
Explore Your Options
- SGLI ends when you leave the military.
- Veterans Group Life Insurance (VGLI) provides an option to replace it and may be a great choice for those who have difficulty obtaining insurance elsewhere.
- Compare this option with other plans and you may be able to save thousands of dollars.
Our Focus is You. Get a fast, no-obligation quote
Get the Coverage Amount and Duration That Works Best for You
Level II ‘Plus’ is sold in $10,000 increments with a minimum coverage requirement of $50,000, up to a maximum of $1,000,000. Level II ‘Plus’ coverage is purchased in 1 year increments with a minimum duration of 5 years up to a maximum age of 85.Premium Classes
Level II ‘Plus’ maintains three levels of premium rates. The rate for which the insured will qualify is based on the insured’s health, issue age, amount of coverage, termination age, gender, nicotine use (a nicotine user is an individual who has used any nicotine products within the past 12 months) and life-style. Once the plan is purchased, premiums are guaranteed to remain fixed for the elected duration of the plan. Standard: Individuals who are of average health.
Select: Individuals with a payment plan of 30 years or less with above average health.
Super-Select: Non-nicotine using individuals with a payment plan of 30 years or less, who are in above average health, maintain a low risk life-style and have a good family health history.
Special Features
5 Year Guaranteed Convertibility Feature
Up to 100% of Level II ‘Plus’ Term coverage may be transferred to a Navy Mutual Permanent 'Plus’ life insurance plan without a physical if the insured is under the age of 70 and within the first five plan years. There is no additional premium for this feature!
Accelerated Death Benefit Option
Those insured who have maintained their plan for more than five years and are terminally ill may receive a majority of the death benefit as a lump sum. There is no additional premium for this option!
Optional Insurance Riders
Extended Guaranteed Convertibility Rider
This rider allows guaranteed conversion to a Permanent ‘Plus’ plan up to age 70 or five years prior to the elected termination date, whichever occurs first. For premium rates and details about this option, please call a Navy Mutual Membership Representative at 800-628-6011.Family Benefit Rider
Family Benefit Rider (FBR) coverage is separate coverage that provides decreasing term life insurance on the spouse not covered under the Level II Term plan and level coverage on any eligible unmarried children under the age of 21. Upon the death of a person or persons insured under the FBR, the FBR death benefit will be paid to the spouse who is the insured under the Level II Term plan. 1 FBR unit is available for each $50,000 of Level II Term coverage elected. Up to four (4) Family Benefit Rider Units may be applied for as riders to an existing benefit plan as long as the total of all coverage on the eligible adult does not exceed $1,000,000, and the total of all coverage on each eligible child does not exceed $250,000.Monthly Premium per Unit of Coverage
| Non-nicotine using Spouse or Child | $1.00 | Maximum 4 units: $4.00 |
| Nicotine using Spouse or Child | $1.30 | Maximum 4 units: $5.20 |
Coverage Limits
Coverage changes on the birthday of the spouse and/or children and terminates upon expiration or surrender of the Member’s policy to which the coverage is attached. Eligibility extends to all unmarried dependent children who have not reached their 21st birthday. Children born or adopted after the effective date of this Family Benefit Rider are automatically included in the coverage, and subject to the child coverage limit provided. Spouse Coverage | Child Coverage per Unit per Eligible Child | ||
Age | Amount | Age | Amount |
Under 35 | $25,000 | 15 days but less than 6 months | |
35 - 39 | $15,000 | $500 | |
40 - 44 | $12,000 | ||
45 - 49 | $7,000 | 6 months but less than 21 years | |
50 - 54 | $5,000 | $2,500 | |
55 - 59 | $3,000 | ||
| 60 and over | $0 | ||
Our Focus is You. Get a fast, no-obligation quote
| :: Home :: Life Insurance :: Annuities :: About Navy Mutual :: Military Benefits :: FAQ :: Contact Us :: |