Automatic Benefit Increase Keeps Coverage In Tune With Family Needs. During the early years the life insurance benefit amount you choose can be automatically increased by 10% a year for up to 10 years. With no need to reapply or requalify later, you can be confident that your coverage will keep pace with your family's growing financial needs. Your total premium increases annually to reflect your increased insurance.

Later on benefits are adjusted downward as you grow older and need less coverage. Another feature helps keep your premiums low: Insurance amounts reduce to 75% at age 65 and to 50% of the original amount at age 70. Thus, as you reach the stage in life when mortgage balances are reduced and tuition bills paid off, benefit amounts reflect your changed situation. Premiums are not reduced when insurance amounts are reduced.

Premiums for the VIP Alumni Insurance Plans are determined by your age when coverage begins. If you have not used tobacco or nicotine in the last 24 months, you may qualify for the more favorable nonsmoker rates. As you enter a new age bracket, premiums will increase. Rates are subject to change by the insurance company.

How much money will your family members need after you’re gone?
That’s the question the Collegiate Alumni Life Calculator (called CALC) can help you estimate.

The VIP Alumni Insurance Plans offer a Living Benefit feature. An insured who is diagnosed with a terminal illness, and has a life expectancy of 12 months* or less, can collect half the benefit amount while living. These funds can be used to pay medical bills, cover family expenses, or simply keep the insured as comfortable as possible, while the balance remains in force for the beneficiary's protection.

A Living Benefit payment is not taxable under current U.S. federal law. However, receipt of Living Benefits (technically "Accelerated Death Benefits") may affect eligibility for public assistance programs, so you should consult an advisor. While any life insurance remains in effect, full premiums are payable. This feature is not available to residents of Massachusetts.

Death by suicide within the first two years is the only exclusion. (One year for Missouri residents.)

You are guaranteed the right to continue insurance to age 75 if premiums are paid on time and your alumni group does not offer another, similar program. At age 75, you may convert your coverage to "permanent" insurance, regardless of your health, if you have been insured for at least five years.

You may apply if you are under age 75, you are affiliated with a sponsoring alumni association, and your permanent home address is in the United States (except Oregon, South Dakota, Vermont, Washington state, territories, and possessions).

Family members under age 75, including your spouse, domestic partner, and adult children, are also eligible to apply for this coverage, even if you do not apply.

When you or your spouse is insured, your children age 15 days to 18 years can each become insured for $10,000 of coverage. To learn more about children's insurance, click here.

Acceptance will be based on your current health and health history as you tell us about it on the application. You will be asked to provide blood and urine samples at your convenience—at your home or business—at no cost to you. If additional medical information is needed, it will be requested directly from you or from the physicians you tell us about. Most applicants will be approved for this coverage.

Click here to learn how to apply and to download an application.

If you have questions you'd like answered before you apply, contact Meyer and Associates. Trained customer service representatives will be happy to provide the information you need. And naturally you'll be under no obligation.