What is Level II 'Plus' Term insurance?
Level II 'Plus' Term is a term life insurance plan that 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 the plan. This is ideal protection for specific short-term needs or long-term coverage for those older than age 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 are available for those with good health and low-risk lifestyles.
- Convertible Option to Whole Life, without a Physical
- There is an early payout for the terminally ill insured.
Level II 'Plus' Term Coverage
Compare Navy Mutual rates before making your decision.
- You Choose the Coverage Amount and Time
- Individual Coverage Can Last up to Age 85
- Male and Female Rates
- Your rate will NEVER increase for the life of the policy, PLUS the death benefit will 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
|
*Individuals who do not use nicotine, Super-Select™ monthly rate
Actual premiums may be higher after medical underwriting.
Explore Your Options
- Servicemembers' Group Life Insurance (SGLI) ends when you leave the military.
- Veterans Group Life Insurance (VGLI) provides an option to replace SGLI and may be a great choice for those who have difficulty obtaining insurance elsewhere.
- Compare this Navy Mutual option with other plans and you may be able to save thousands of dollars.
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 one-year increments, with a minimum duration of five years, up to a maximum age of 85.
Three Premium Levels
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 status (a nicotine user is an individual who has used any nicotine products within the past 12 months), and lifestyle. Once the plan is purchased, premiums are guaranteed to remain fixed for the elected duration of the plan.
Standard - This level is for individuals who are of average health.
Select - This is for individuals with a payment plan of 30 years or less, with above-average health.
Super-Select - Individuals who do not use nicotine, with a payment plan of 30 years or less, who are in above-average health, maintain a low-risk lifestyle, and have a good family health history.
Special Features
Five-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 it is done 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.
Child Benefit Rider
Optional coverage that provides level term insurance on eligible children, which can be converted to lifelong coverage at a later date.
Monthly Premium = $2.50 per Month - One flat rate of $2.50 per month covers your current children at the time of application, and any subsequent children born or adopted after the effective date of the Child Benefit Rider.
Coverage Limits = $10,000 per Child - Level coverage of $10,000 applies to each unmarried, dependent child, up to his or her 26th birthday.
Eligibility - Coverage is available for children beginning at six-months of age and extends to children up to age 26. Coverage must be purchased prior to the child’s 21st birthday.
Convertibility - Coverage is convertible to $10,000 of Permanent ‘Plus,’ which provides lifelong coverage with tax-deferred cash-value growth. The rider must be converted prior to the child’s 24th birthday at the premium rate in effect at that time for the actual attained age of the child.
Still have questions? Click here to schedule a phone call with one of our life insurance experts.