Members can augment Navy Mutual life insurance with additional level coverage for their children with the Child Benefit Rider. A flat rate of $2.50 per month provides additional coverage for all covered children with a death benefit of $10,000 per eligible child. The optional benefit covers all children at the time of application, as well as any children born or adopted after the effective date of the Child Rider. Level coverage of $10,000 applies to each unmarried, dependent child, ages 6 months through age 26. Coverage must be purchased prior to the child’s 21st birthday.
Coverage is convertible to $10,000 of Flagship Whole Life, which provides lifelong coverage with tax-deferred cash-value growth. The Child Rider must be converted prior to the child’s 24th birthday at the premium rate in effect at that time for the actual attained age of the child.
- Optional additional coverage for current and future children.
- A flat rate of $2.50/month.
- Level coverage of $10,000 per child.
- Unmarried, dependent children ages 6 months to 26 years are eligible.
- Convertible to Flagship Whole Life
For more information on Navy Mutual’s Child Benefit Rider, please call us at 800-628-6011.