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Home > Insurance Help & Plans Overview > Two for One
USBA Double Value Two for One Family Group Level Term Life Insurance Plan Family Photo
 
     
 
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30-Day Unconditional Promise:
Upon approval of your Application, you’ll be issued a Certificate of Insurance. If you are not completely satisfied with the provisions of your Certificate, you can return it within 30 days, without claim, for a prompt, full refund. Important Plan Information
 
USBA Double Value Two for One Family Group Level Term Life Insurance

Family Group Level Term

Our USBA Double Value TWO for ONE® Family Group Level Term Life plan has been our most popular life insurance plan almost from the first day we introduced it in 1993. And there’s a good reason for that.

Today’s two-income families have household budgets based on two incomes. Just insuring the primary breadwinner doesn’t truly protect the family as it probably did in our parents’ generation. If either you or your spouse were to die unexpectedly, your family’s lifestyle and future could be in jeopardy if both of you aren’t insured adequately.

But do you really need two insurance policies … and the added expense and hassle of paying two premiums? What you probably need is insurance on the first person to die. Here’s why: The benefits paid on that first life would in many cases take care of “the big three” … your mortgage, car payments, and children’s education. And the surviving spouse would no longer need a coverage amount large enough to cover these major expenses. That’s why we say it’s the first person to die that needs the largest amount of insurance. And obviously no one can predict who will die first.

So here’s the important benefit of USBA Double Value TWO for ONE … It covers both of you for the same amount of coverage, it pays on whoever dies first, but there’s only one premium to pay … not two!

Another Important Benefit – should the two of you die within 15 days of each other as the result of the same accident, the full benefit amount would be paid for each life.

Before you begin the application process, be sure to review the TWO for ONE Plan Features, Options, FAQs and Rates.

You can complete your application online or print an application and complete it at your convenience. Plus, when you choose to apply online, we’ll ask you to decide if you want to:

  • Submit Electronically
  • Print and Mail
(After completing the application, you can print it, sign it and mail it to us with a check for the required premium amount. If we cannot issue a policy for any reason, we will refund the amount you paid in full.)

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Plan Details    
Features

Joint Coverage - One low premium covers two lives. You pay one premium, not two! This coverage protects you both, but benefits are paid on whoever dies first. At that time, joint coverage ends. The survivor then can obtain a like or lesser amount of USBA coverage, without underwriting.

Coverage Amounts - Select Coverage Units of $50,000 to $400,000 in multiples of $50,000. You can choose the amount of coverage that best meets your family’s needs.

Overall Maximum - Member and spouse coverage amounts under this plan, when combined with coverage amounts under all USBA Group Life Plans, cannot exceed an overall maximum of $650,000 for each Member or Spouse.

Pays Double - If both spouses die within 15 days of each other, as a result of the same accident, benefits are paid for the loss of both lives. Your children or other names beneficiaries can receive double the face amount of your coverage.

Preferred Rating – If you’re healthy and lead a healthy lifestyle, you may qualify for our preferred rates at substantial savings over our standard rates. It’s available in coverage amounts from $100,000 to $400,000!

Preferred rates are not available for individuals who use nicotine in any form, including nicotine patches or gum, who have high-risk hobbies like sky-diving or scuba-diving, or who are employed in certain high-risk occupations such as pilots and crew members.

Remember, even if you can’t qualify for preferred rates, you may still be eligible for our affordable standard rates. Either way, you can get quality life insurance coverage at an affordable price!

30-Day Unconditional Promise - Once your application has been approved, you’ll be issued a Certificate of Coverage … and if you’re not completely satisfied with the provisions of your coverage, you can return it within 30 days, without claim, for a prompt and full refund. No questions asked!

$15,000 Emergency Death Benefit - This payment gives peace of mind to surviving family members in their time of loss. At the time of your death, your spouse beneficiary may qualify for an immediate emergency payment of up to $15,000 on telephone notification of your death. This benefit is very helpful and greatly appreciated at a very difficult time. Some restrictions may apply, contact USBA for details.

No War Clause - Unlike some other life insurance plans, this plan pays benefits for a combat-related death.

Area of Armed Conflict Limitation - (This limitation does not apply to: insured members who are on active military duty, including the National Guard & Reserve; death due to accident or illness; or to any coverage amount in force with USBA prior to 1/1/07.) If your death results from hostilities in an “Area of Armed Conflict,” the aggregate maximum benefit payable under all USBA Group Life Plans will be limited to $100,000. (Note: Please contact USBA for a listing of the geographic areas currently designated as an “Area of Armed Conflict.” See your Certificate of Insurance for further details.)

POW/MIA Protection - If the D.O.D. lists you as Missing In Action or as a Prisoner of War, USBA will pay 100% of your premium for your USBA group life insurance in effect at that time (and continue paying either until you’re no longer a POW/MIA or until your coverage would otherwise end).

Conversion Privilege - May allow you to convert your term life coverage to an individual policy regardless of health. (Details are provided in the Certificate.)

Beneficiary - The Beneficiary is automatically designated: the husband’s beneficiary is his wife; the wife’s beneficiary is her husband. (Other designations can be made, if desired.)

Continuation of Coverage - TWO for ONE coverage terminates on the June 1st following the older spouse’s 70th birthday. You may continue your TWO for ONE coverage so long as both you and your spouse are under age 70, you pay your premium when due, your USBA Membership is continued, and the Group Policy is not terminated or modified to end your coverage. Earlier termination will occur upon divorce or annulment of your marriage, the death of you or your spouse, or if you or your spouse formally requests voluntary termination.

Coverage You Can Keep - USBA’s TWO for ONE plan may be continued after retirement or military separation. And there’s no increase in premium or decrease in coverage, just because you retire or separate. Veterans and Federal employees are also eligible for USBA coverage.

Individual Certificate - These pages outline the principal provisions of the USBA Two for One Family Group Level Term Life Insurance Plan. Complete details are in the Group Policy G-5393-1/-0 (Policy Form GMR) issued to USBA by New York Life. Each member will receive a certificate which summarizes policy provisions affecting his or her insurance.

The Company Behind the Plan - This plan is underwritten by New York Life Insurance Company … one of the oldest and largest life insurance companies in America.

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