Affordable Navy, Military Family Life Insurance Plan and Rates

Navy Mutual's provides a decreasing family life insurance plan for Military Sea Service and select government agency employees on each spouse and a level life insurance plan for children under the age of 21, 23 if attending school. Family Plan coverage is designed to meet the needs of the young family by providing a high level of coverage on the service member and spouse during the years when the need for coverage is high, while offering it at the lowest possible cost. Children will be covered for a smaller amount of coverage at no additional cost.

Coverage Requirement

Coverage Amounts for Family Term Life

Family Plan coverage for the service member and spouse stays level to age 50 (40 for nicotine users), then begins to decrease. In order to be eligible for Navy Mutual's family coverage, a minimum of 15 units must be purchased on the service member and 10 units on the spouse. The value of a unit of coverage changes based on the insured’s age and nicotine use, as shown below.

	Per Unit of Flex Term
	Under Age 40	Age 40 - 44	Age 45 - 49	Age 50 - 54	Age 55 - 59	Age 60
Non-Nicotine User	$10,000	$10,000	$10,000	$2,700	$2,000	$0
Nicotine User	$10,000	$2,700	$2,000	$0	$0	$0

Free Child Coverage

Unmarried eligible children who are over the age of 6 months and under the age of 21, age 23 if a full time student, will automatically be provided coverage of $10,000 at no additional cost if the service member and spouse each maintain the minimum units above.

Family Life Insurance Premiums

Premiums are calculated on the amount of coverage you purchase and remain level for the life of the policy.

Premium Refunds

A partial refund of premiums may be provided each year for insured’s who are non-nicotine users and are under the age of 50. This refund of premium is not guaranteed.

Guaranteed Convertibility Feature

The owner of a Family Plan may convert the same amount of coverage that will be in force two years from the date of conversion to any other Navy Mutual life insurance plan without proof of insurability. For example: A 47 year old non-tobacco user with $400,000 (40 units) may convert up to $400,000 coverage to any of Navy Mutual's products, while a 48 year old non-tobacco user with $400,000 may only convert $108,000 coverage due to the fact that at age 50 (two years from age 48) the coverage will have been reduced to $108,000. The new coverage cannot exceed the Family Plan coverage that will be in effect 2 years from the conversion date. The new “standard” premium rate will be calculated based on your age at the time of conversion. There is no additional premium for this feature!

Accelerated Death Benefit Option

Insureds’ who have maintained their plan for more than five years and are terminally ill may receive a majority of the death benefit as a lump sum. There is no additional premium for this option!

NMAA Eligibility for Family life Insurance Plans

A service member of any of the five sea services (i.e., Navy, Marine Corps, Coast Guard, U. S. Public Health Service, and National Oceanic and Atmospheric Administration) who is either active duty, retired, a reservist or an honorably discharged veteran (who resides in Virginia, North Carolina, or South Carolina) and is under age 65 may join Navy Mutual by purchasing a life insurance policy or annuity on his/her life, the life of a spouse and/or the life of an eligible child or grandchild.

Protect Your Loved Ones with Navy Mutual's Family Life Insurance Plan