Group 10-Year Level Term Life Insurance

Lock in your rates!

Your life could change in the blink of an eye. Even if your world stops, you should have a plan to help your loved ones maintain their current standard of living. NSPE Group 10-Year Level Term Life Insurance is essential to estate planning and your family’s future.

  • Coverage amounts of $50,000 to $1,000,000
  • Non-tobacco user discount
  • Requalification/re-entry available after initial selected guarantee period
  • Accelerated death benefit
  • And much more!

FAQs

How much life insurance do I need?

When you think about purchasing life insurance, consider how much your dependents will need to maintain their lifestyle. Some insurance experts suggest that you purchase life insurance equal to five to nine times your current income.

Who is eligible for this insurance?

NSPE members and their lawful spouses under age 65 may apply. Also, all unmarried dependent children ages 14 days through 18 years (25 if a full-time student) are eligible. In order to become insured, satisfactory evidence of insurability must be provided, and the required premium must be paid. A dependent who is also an NSPE member is eligible for either member or dependent coverage, but not both. If both member and spouse are covered as members, neither may insure the other as spouse, and only one may insure any eligible children.

How much insurance can I request?

Members—$50,000 to $1,000,000 in $25,000 multiples.
Spouse—$50,000 to $1,000,000 in $25,000 multiples, not to exceed 100% of member's coverage.
Child(ren)—$5,000 per child ($500 from 14 days to under 6 months).

Note: The total amount of coverage an individual may request under all group life insurance plans underwritten by New York Life Insurance Company may not exceed $1,500,000 for members and $1,250,000 for spouse.

Are any discounts available?

Two discounts are available:

  • Volume discount—If you or your spouse become insured for coverage amounts of $250,000 through $1,000,000, you'll receive a volume discount.
  • Qualified nonsmoker—Nonsmokers meeting the highest underwriting standards may qualify for the "Preferred" (the plan's best) rates. Other nonsmokers may qualify for "Select" (higher, but still very competitive) or "Standard" (the plan's highest) rates.