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Increase Your Family's Protection.
The NJCPA Group 10-Year Level Term Life Insurance Plan guarantees rates for the initial 10 years with coverage amounts that remain level for the entire time you’re insured. For those looking for stability, this policy is a great option.
Policy Details:
- Offers coverage up to $1 million, in increments of $25,000.
- Offers an accelerated death benefit1 feature allowing for a one-time request of 50% of in-force coverage amount to be paid while you’re alive if you are diagnosed as terminally ill.
- NJCPA members under the age of 65 can request coverage along with their spouse/domestic partner and dependent children.
For more information, including features, costs, eligibility, renewability, limitations and exclusions, please download the brochure above or call our licensed representatives at 855-874-0278.
Important Questions:
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What is the difference between Level Term Life and Term Life?
A Level Term policy means that the rates are guaranteed for a specific length of time. In this case, the rates are guaranteed not to change for 10 years after the initial coverage effective date. With Term Life, your rates renew annually as you age.
What happens to my coverage once I’ve reached the term?
At the end of your initial term, you may reapply for another 10-year term, provided you still meet eligibility criteria. You will be subject to the rates and underwriting requirements in effect at the time of re-application. Or you could continue your existing coverage until age 75, but on a non-guaranteed rate basis. You will not be required to re-apply for coverage and submit to medical underwriting if you choose this option, but your premium will increase according to your age.
I’m a little bit older, should I consider a whole life policy?
That’s an excellent question. Whole or permanent life policies can be a good resource. While a policy like this can build cash value, such values are based on projections and subject to market fluctuations. With term life, you know exactly what coverage you’re paying for.
Have more questions?
For more information on this coverage – features, costs, eligibility, renewability, limitations and exclusions – click on the Learn More section on the right or contact an NJCPA insurance specialist.
Understanding the Application Process
Underwritten by New York Life Insurance Company, 51 Madison Ave., New York, NY 10010—Policy Form GMR-FACE-29469.
1Receipt of this benefit may affect your eligibility for public assistance programs and may be taxable. Prior to your request, you should consult with appropriate social service agencies and your tax advisor.
Michigan Residents: I understand that I may use a producer/agent to assist me with the completion of this application at no cost to me.