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Note:
Residents of Washington state must be under age 65 to apply for coverage under
this plan.
If you want permanent lifetime coverage with cash value and guarantees, USBA’s Group Whole Life Plan is recommended for you. You can buy it through age 80 and keep it for the rest of your life. USBA’s Group Whole Life comes with USBA’s Five Point Guarantee:
- The
cost will never go up.
- The
coverage amount will never go down.
- You
can keep it as long as you choose.
- Your
coverage builds cash value on a guaranteed schedule of benefits.
- If
you’re not happy with your coverage after you get it, you have
a full 30 days to return it for a complete refund.
Once
approved, you’ll never have to re-qualify for coverage because this
is permanent, not term, insurance. Even if your health changes in
the future, you’ll never lose your coverage as long as you pay your
premiums on time — it’s GUARANTEED!
Call us at 1 (800) 368-7021 to receive more information or to request an application. Coverage is available in $1,000 increments starting at $5,000.
Guaranteed Features
Level Premium — Your premiums will never increase regardless of your age or health – guaranteed!
Level Death Benefit — As long as premiums are paid, the death benefit doesn’t decrease – guaranteed!
Cash Value — After the first few years, USBA’s Group Whole Life has increasing cash values. If terminated after cash value has accrued, it may be surrendered for its cash value or may be exchanged for an amount of paid-up insurance. The reduced paid-up insurance continues to build a cash surrender value.
Loans - After the first few years, USBA’s Group Whole Life has increasing cash values. If terminated after cash value has accrued, it may be surrendered for its cash value or may be exchanged for an amount of paid-up insurance. The reduced paid-up insurance continues to build a cash surrender value.
Emergency Death Benefit — If your spouse is the beneficiary of your policy (and all other qualifications have been met), an emergency payment of 50% of the proceeds, up to $15,000, may be paid on phone notification of your death.
Full Coverage for Pilots & Crew Members — Unlike some plans, USBA Group Whole Life insures pilots and crew members with no reduction in the death benefit.
POW/MIA Protection — USBA provides its members with a POW/MIA Protection Benefit. We will pay your premiums for all USBA sponsored Group Life coverage in force at the time the Department of Defense lists you as missing in action or as a prisoner of war. This benefit continues until you are no longer a POW or MIA, or until your coverage would normally end, whichever occurs first.
No War Clause —
You are covered for combat and service related fatalities.
- Area of Armed Conflict
(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 $100,00 (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.)
Reduced Paid-Up Insurance — This is an amount of life insurance for which you can surrender your Group Whole Life Insurance and on which no further premiums are required to keep it in force. Complete details are in the certificate.
Minimum/Maximum Coverage — As a Member or Associate Member, you may request Group Whole Life coverage in amounts from $5,000 to $400,000 (in $1,000 increments). Note: The overall maximum coverage amount available to each Member/Associate Member under all USBA-sponsored Group Life Plans is $650,000. Optional AD&D coverage is not considered life insurance.
Coverage You Can Keep —USBA’s Group Whole Life Plan may be continued after retirement or military separation. And there’s no increase in premium or decrease in coverage, just because you separate. Veterans and Federal employees also qualify for USBA coverage.
30-Day Unconditional Promise — Once your application is approved, 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 for a prompt, full refund.
Individual Certificate — This page outlines the principal provisions of the USBA Group Whole Life Plan. Complete details are in Group Policies G-10648 and G-5393 (Policy Form GMR) delivered to USBA at its headquarters in Overland Park, KS by New York Life. Each insured Member/Associate Member will receive a certificate which summarized the policy provisions affecting his or her coverage
 The Company Behind the Plan — This plan is underwritten by New York Life Insurance Co ... one of the oldest and largest life insurance companies in America.
Optional Children's Term Life Coverage
Available to Members/Associate Members at a cost of $1.50 per month. This optional term coverage is available for unmarried children age 14 days through 22 years who are not eligible for USBA Membership. Children’s Coverage is term coverage and is continuable as long as premiums are paid when due, the Member continues to be insured under USBA-sponsored Group Life Plan, and the children remain eligible.
Insured stepchildren must be dependent on the member for over 50% of their support. If both parents are insured with USBA coverage, only one parent may request Children’s Coverage. One unit of Children’s Coverage is available with Group Whole Life coverage, for the following schedule:
| Child's Age
|
Coverage Amount
|
| 14
days to 6 months |
$1,000
per child |
| 6
months to 2 years |
$2,000
per child |
| 2
years to 3 years |
$4,000
per child |
| 3
years through 22 years |
$5,000
per child |
Optional Accidental Death and Dismemberment (AD&D)
Coverage
Available to Members and Associates at a cost of $2.00 per month, the full coverage amount of $40,000 is payable for accidental loss of life, the loss of both hands or feet, the sight of both eyes, or any two of the preceding. Half the coverage amount ($20,000) is payable for the loss of one hand or foot or the sight of one eye. The loss must be the direct result of a covered accident that occurs while coverage is in force and within 90 days of the accident. Loss of a hand or foot means severance at or above the wrist or ankle. Loss of sight means its total and permanent loss. No more than $40,000 will be paid for all losses from any one accident.
AD&D coverage ends on the June 1st following the insured's 66th birthday or earlier if the insured ceases to be insured under a USBA-sponsored Group Life Plan.
Exclusions — AD&D benefits are not provided for losses due to air travel, unless the insured is riding solely as a passenger. Other exclusions include losses due to war; insurrection; riot; terrorist activity; commission of a felony or assault; illegal use of drugs, hallucinogens, etc; use of alcohol; sickness or disease or its medical or surgical treatment; intentionally self-inflicted injuries; or suicide. AD&D benefits may not be denied due to suicide if insane, unless it can be shown that the insured intended to commit suicide at the time coverage was requested.
Is there an age limit on eligibility for USBA Group Whole Life protection?
Yes. Insurance is available to USBA Members and Associate Members age 80 (65 in Washington State) and under and continue as long as you live provided you pay your premium contribution when due and the Group Policy remains in force.
Can my spouse get separate Group Whole Life coverage?
Yes. A Member’s spouse age 80 (65 in Washington State) and under can get his or her own Group Whole Life coverage as an Associate Member of USBA.
If the Group Whole Life plan develops cash value, what can I do with that?
You have several options once your plan has cash value. You can surrender your plan for its cash value at any time. You can exchange your cash value for a smaller amount of paid-up life insurance which won’t require any further premium payments in the future. Or you can request a loan at current interest rates.
If you request a loan, the death benefit will be reduced by the amount of any unpaid loan, plus any interest-to-date. If the interest isn’t paid at the end of each calendar year, it is applied to the loan balance. If the loan plus interest exceeds the cash value, your insurance will terminate.
Are premiums higher or levels of protection less if I’m a military or commercial flyer?
No. You’ll receive the same level coverage at the same low cost as non-flyers. You won’t have to buy additional riders or accept a reduced death benefit.
Note: If your death results from service as a pilot or crew member of a military aircraft (or giving or receiving any kind of training or instruction while on board any military aircraft) before age 36, one-half benefits are payable. Full life insurance benefits are payable for other causes of death.
Can the amount of my coverage ever be decreased because of age or poor health?
No. The coverage amount you choose will remain the same regardless of your age or health.
Will my family be protected in the event of a service-related or combat death?
Yes. Service-related and combat deaths receive full benefits. With USBA, there is no war clause, just like when we were founded in 1959.
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.) (
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