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Home > Insurance Help & Plans Overview > Long Term 20
USBA Long Term 20 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 Long Term 20 Year Group Level Term Life Insurance

USBA Long Term 20SM Year Group Level Term 

You’ve made the smart decision to protect your family’s financial future … and we can help you do that with USBA’s Long Term 20-Year Group Level Term Life Insurance plan. This affordable and unique level term coverage is designed to help give you the financial protection you’re looking for at an affordable rate your budget will appreciate. It’s one of the most loving things you can do for your family.

Apply today. Once approved, rest assured, knowing you are covered for the next 20 years (provided you continue to pay your premiums when due). And although rates are not guaranteed, there will be no decrease in coverage (until coverage terminates at age 75), and premiums are designed to remain level for the lifetime of your coverage. It’s underwritten by New York Life Insurance Company — one of the country’s oldest and most reliable insurance companies.

Note: This plan is not currently available in New York or Washington.

Before you begin the application process, be sure to review the Long Term 20 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

First 20 Years - The price you pay the first month is designed to remain level … Although rates are not guaranteed, they are expected to remain level for the first 20 years. It’s an affordable monthly price based on your age, sex and smoking status.

Second 20 Years - At the end of your first 20-year term (if you are age 54 or under), you’re guaranteed the right to renew your coverage for an additional 20-year term, as long as premiums are paid and the group policy is still in force. That means no hassles, no medical questions to answer … and no need to re-qualify for coverage. Premiums increase at renewal. (Once you reach the first renewal period following age 54, renewal is on an annual basis.) See Renewal Terms & Premium Rates for further details.

Minimum/Maximum Coverage - You decide how much you need … how much you can afford. As a Member or Associate Member, you may request USBA Long Term 20-Year Group Level Term coverage in amounts from $25,000 to $500,000 (in $1,000 increments). NOTE: The overall maximum coverage amount for each Member/Associate Member under all USBA-sponsored Group Life Plans is $650,000.

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 $500,000!

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 - Takes the worry out of buying life insurance. Once your application has been approved, you’ll be issued a Certificate of Insurance … 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 Payment - You won’t find many other competing plans offering this benefit. 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.

Living Benefit - USBA offers an accelerated death benefit that can pay you an amount equal to 50% of your coverage in force, while you're living.

To qualify, you must have at least $50,000 coverage in force, be under age 74, and be diagnosed with a terminal condition which results in an expected life span of 12 months or less (24 months or less for Illinois residents). Diagnosis and evaluation of the limited life expectancy must be provided to New York Life.

The amount of insurance payable at death will be reduced by the Living Benefit paid and any premiums deferred as a result of payment of the Living Benefit. (Please note that receipt of accelerated benefits may affect your eligibility for public assistance programs. You may wish to consult a financial advisor or attorney before applying for this benefit to determine how this may affect your personal situation. Not available in Massachusetts.)

No War Exclusion - Unlike many other life insurance plans, this plan will pay 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 - You can convert your USBA Long Term 20 coverage to an individual New York Life policy, regardless of health. (See your Certificate of Insurance for details.)

Beneficiary - You may choose anyone you wish as the beneficiary of your Long Term 20 coverage and you may change your beneficiary at any time.

Coverage You Can Keep - USBA’s Long Term 20 Plan continues after retirement or military separation. And there’s no increase in premium or decrease in coverage, just because you retire or separate.

Individual Certificate - These pages outline the principal provisions of the USBA Long Term 20-Year Group Level Term Plan. Complete details are in Group Policies G-29306-0 and G-5393-0/-2 (Policy Form GMR) issued to USBA by New York Life. Each insured Member/Associate Member will receive a certificate which summarizes policy provisions affecting his or her life insurance.

Renewal Terms & Premium Rates - All coverage is provided under a group term life insurance policy. It provides level death benefits for 20 years. Coverage will continue until your 75th birthday provided you pay your premium when due and the Group Policy remains in force. Your Coverage will continue to be underwritten by New York Life provided USBA continues to exclusively endorse this program and pays the premium when due.

Premiums, although not guaranteed, are expected to remain level for your 20-year term. After each 20-year period, if you are age 54 or under, you are guaranteed the option to renew for another 20-year term, regardless of your health. Premiums increase at renewal and are not guaranteed.

Once you reach the first renewal period following age 54, renewal is on an annual basis with premium increases each year.

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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