Level II Plus Term Life Insurance
Affordable coverage up to age 85
Keep your loved ones protected even after you leave the service. The Level II Plus plan picks up where your Servicemembers’ Group Life Insurance (SGLI) leaves off – providing flexible protection with a guaranteed level premium.
Choose the coverage amount and length of coverage that’s right for you:
- $50,000 up to $1,500,000 in $10,000 increments
- Ten years or more
Your premium is based on your age, coverage amount, length of term elected, and health-based risk rating approved by underwriting.
- Affordable coverage – You enjoy significant savings over what you might pay for Veterans’ Group Life Insurance (VGLI)
- Guaranteed premiums – You pay the same amount for as long as you’re covered
- No military service restrictions – There are no war, aviation, terrorism, or travel clauses (for those on active duty)
Level II Plus is ideal for those ages 45 to 75 who have left or are preparing to leave the service. (Policy must be purchased before the insured’s 75th birthday.)
Additional Member Benefits
Accelerated Death Benefit
Once you’ve been covered for at least five years, you could receive most of your term life benefit in one lump sum if you become terminally ill. There is no additional cost for this important protection.
Child Benefit Rider
For just $2.50 more per month, you may be able to add $10,000 of coverage for your unmarried, dependent child(ren) up to age 26. Your application must be submitted before the child’s 21st birthday.
You can convert your Level II Plus Term policy to a Flagship Whole Life permanent coverage without undergoing a medical examination provided that (1) your term duration has five or more years remaining or (2) the insured is under the age of 71 and the policy’s anniversary date has not passed.
You can convert the full amount of your current term coverage to a permanent policy. If you wish to convert less than the full amount of your term coverage, you may convert the lesser of: (1) the amount in effect at the time of conversion, or (2) the minimum amount of permanent coverage offered for sale by Navy Mutual.
The premiums offered for the new Flagship Whole Life policy will be based on rates in effect at the time of conversion and the insured’s age at the time of the application.
Extended Guaranteed Convertibility Rider
For an additional premium, you can purchase an extended right to convert to a Flagship Whole Life policy without a medical exam beyond five years. With this rider, you can convert at any time before age 70 or five years before the policy’s termination age, whichever occurs first.
Life Insurance Needs Calculator
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Life Insurance Basic Training
Get answers to questions you may have about life insurance.