With Senior Term Life Insurance, AFGE members have a range of coverage options to fit their budget. And a "living benefit" feature allows the insured to collect benefits and pay no monthly life insurance premium during a terminal illness.
Unlike other term life insurance programs there's no termination age and no medical exam required. Your insurance premium is waived if you are ever confined to a nursing home.
- Available to active and retired members ages 55 - 74.
- Available to spouses/domestic partners ages 55 - 74.
Policy Form # SRP-1153 A (HLA)(1661)
Features of this Benefit:
- Choose your level of protection: benefits paying from $5,000 - $25,000
- Pays in addition to any other benefits you may have.
- Coverage without re-application or underwriting.
- No medical exams are required.
- Premiums are waived if you become terminally ill or become nursing home confined.
- Pays benefits for loss of life by accident or illness anywhere in the world.
- Your benefits will not reduce until age 80. The reduced coverage is $5,000 which remains consistent even if you live to be more than 100 years old.
- Your Spouse or domestic partner is eligible to apply.
- No-cost living benefits: Receive up to 50% payout of your life insurance benefit if you suffer a terminal illness. This allows you to get up to 50% of your benefit money when you need it the most. (And this benefit is available to you until 80 years of age.)
This product is currently unavailable to Oregon residents.