Navy Mutual Life Insurance
Term Life Insurance

What Is Term Life Insurance?

Term life insurance is a type of life insurance that provides coverage for a set period of time. Typically, this period ranges from five to 30 years or until the insured reaches a certain age. If the insured passes away during their term period, the predetermined death benefit is distributed to their beneficiaries to use as they see fit, often to cover debts, fund education, cover final expenses, or replace lost income. If the insured passes away outside of the policy term, no death benefit is paid.

You were very professional and addressed all my questions. Provided me a great term policy at an affordable rate. Excellent customer service!

- James R., Member since 2018

Term plans are customizable beyond their term limits.

These flexible life insurance plans offer families the right coverage for their needs without costing too much. Navy Mutual offers one term life insurance plan to Members.

Navy Mutual has no active duty military service restrictions.

Premiums will not be higher for those who serve in dangerous conditions (e.g., aviation, deployments) than they otherwise would be for that individual based on their age and medical history.

Level II Plus Term

Navy Mutual’s Level II Plus Term plan provides a level amount of coverage between $50,000 and $1,500,000 at a guaranteed level premium. Term lengths start at 10 years and increase in five-year increments. Coverage is available to those between 18 and 75 years old.

  • Affordable coverage: This plan offers significant savings over what you might pay for comparable Veterans’ Group Life Insurance (VGLI) over the life of the policy.
  • Guaranteed premiums: Rates are based on the amount of coverage chosen and the length of the policy’s term as well as the age and health of the insured.
  • No military service restrictions: There are no war, aviation, terrorism, or travel clauses for active duty servicemembers.


Additional Member Benefits


Accelerated Death Benefit

If the insured is diagnosed with a terminal illness after having been covered for at least five years, a lump-sum payment of the majority of the plan’s death benefit can be paid out to cover associated costs. There is no additional fee for this benefit.

Child Benefit Rider

The child benefit rider allows allows you to add $10,000 of coverage for any unmarried, dependent children under age 21. Coverage lasts until each child turns 26 years old. Alternatively, coverage can be converted to $10,000 of Flagship Whole Life coverage before each child reaches age 24; new premium rates are dependent on the age and health of the child.

Guaranteed Convertibility

A Level II Plus Term policy can be wholly or partially converted to a Flagship Whole Life policy with no need for the insured to undergo a medical exam provided that:

  1. the term duration has five or more years remaining, and
  2. the insured is under the age of 71 and the policy’s anniversary date has not passed.

New premiums are based on the insured’s age and our standard rate at the time of conversion.

Questions? Call 800-628-6011.

Life Insurance Calculator

Find out how much life insurance may be right for you. Simply input your age, current income, future income and cash needs, and available resources and let our calculator do the rest.

Life Insurance FAQs

You may have questions about life insurance, so we created a list of our most frequently asked questions for you to search through. If you need help, you can always call.