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Military Life Insurance, TRICARE, CHAMPVA
Supplements for Armed Forces & Services:
Active Duty, Transitioning Military,
Veterans, Retired Military, Reserve &
National Guard, Federal Employees
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USBA Group Life Insurance plans are underwritten by New York Life Insurance Company
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USBA Life-Time Value Group Whole 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 Life-Time Value Group Whole Life Insurance Plan

USBA Life-Time Value Group Whole Life

If you want permanent lifetime coverage with guaranteed rates, guaranteed benefits, and a guaranteed schedule of cash value, USBA Life-Time Value 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!

Note: Residents of Washington state must be under age 65 to apply for coverage under this plan.

*See Monthly Premium Rates for details.

Before you begin the application process, be sure to review the Whole Life 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

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!

Lifetime Coverage - Neither New York Life nor USBA has the right to cancel the plan. The only way coverage can be terminated is if premiums are not paid.

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 Insurance Plans is $650,000. Optional AD&D coverage is not considered life insurance.

Cash Value - Over time, your Group Whole Life plan will accumulate a cash value. 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.

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.

Loans - Cash loans at current interest rates may be requested through USBA, once cash values are available. 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 certificate anniversary, it is applied to the loan balance. If the loan plus interest exceeds the cash value, the insurance will terminate. Complete cash value tables and details are provided in your Certificate. For information on loans, please contact USBA at (877) 297-9235.

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 - 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.

No War Clause - Unlike many other life insurance plans, the USBA Group Whole Life plan does pay benefits for combat-related deaths.

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.

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.

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.

Individual Certificate - These pages outline the principal provisions of the USBA Group Whole Life Plan. Complete details are in Group Policies G-10648 and G-5393 (Policy Form GMR) issued to USBA by New York Life. Each Member receives 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.

*All guarantees are backed by the claims-paying ability of the issuer.

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