If you reside in NY or UT, you may re-apply for a new term. You must be at least age 18 but under 75 when insurance begins and have a permanent home address in the United States.

Additional coverage is available. Alumni/ae, students, faculty and staff of sponsoring alumni/ae associations, and their eligible family members (spouses, domestic partners, parents, children, and siblings) may apply. Well-priced coverage is also available for minor children when a parent is insured. Click here to learn more.

1. 10-Year Period. You may first be insured for 10 years. Near the end of 10 years, you may request coverage for another 10 years. To qualify, you submit new evidence of your insurability each time you request a new 10-Year Period. You may apply for this term insurance, 10 years at a time, until age 75, which means that coverage in a final 10-Year Period may continue until as late as age 85.
2. Extended Period. If you do not qualify for a new 10-Year Period, your coverage automatically moves to the Extended Period, regardless of your health. You are guaranteed the right to continue this term insurance until age 75. (See During the Extended Period—Term Insurance under the “What are the premiums” question for further details.)
3. Lifetime Option. When your term insurance concludes at age 75 or later, regardless of your health, you may convert your coverage to permanent insurance.

Note: Many group insurance plans allow several entities to cancel coverage, e.g., employer, association, or insurance company. Your Life for Life coverage cannot be cancelled by anyone except you.

• Minimum: $100,000
• Maximum: $1 million (in $1,000 increments). You may be eligible for more coverage if currently insured for more than $1 million. For lower or higher amounts, call about other plans.
• Minor children: $10,000 per child

You have two options:

Automatic Benefit Increases

ABI’s set this plan apart and are reason alone to apply. Chances are you will not find ABIs in other group or individual policies.

During each of the first 10 years, your insurance amount can automatically increase by 10% to help meet mounting needs. That allows your initial coverage to double gradually over 10 years, subject to the plan maximum of $2 million…even if your health deteriorates.

To receive each increase, you must be under age 60 and able to perform normal activities as defined in your Certificate of Insurance. There is no extra paperwork, as you need not reapply or requalify. Your total premium increases annually to reflect your increased insurance. You may decline ABIs at any time, but once declined, they cannot be resumed.

Requesting an Increase

If Automatic Benefit Increases do not provide enough total coverage to meet your needs, you may apply for more insurance at any time, subject to the plan maximum.

You may reduce your insurance through a simple signed request. Your coverage and premium are then adjusted. While you receive no further Automatic Benefit increases, other aspects of your coverage remain unchanged.

Your insurance is not reduced simply because you get older. That way you maintain control of your coverage amount.

A Living Benefit enables an insured person who is diagnosed with a terminal illness, and has a life expectancy of 12 months* or less, to request that up to 50% of the insurance amount be paid while he or she is still living. The remaining 50% continues as life insurance, for which a reduced premium is payable.

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. Consult an advisor for your own situation.

*24 months for Illinois and Texas residents

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

During a 10-Year Period—Term Insurance. Your premium rate per $1,000 of initial insurance is based on your sex, age and health when coverage begins.  Discounts apply to higher insurance amounts. See premium charts for details. Slightly higher rates apply to automatic benefit increases.

Historically, most applicants have qualified for Preferred Plus or Preferred (both for nonsmokers only), or Standard Smoker, depending on the underwriting standards they meet. Other premiums are available for nonsmokers who don’t meet the standards for Preferred Plus or Preferred premiums. You qualify as a nonsmoker is you have not used tobacco or nicotine in the last five years. Click here for a premium quote.

During the Extended Period — Term Insurance. Your premium is first determined by your sex and your age when you enter the Extended Period, and then it increases annually. These premiums are higher, sometimes notably so, than if you were insured for another 10-year period, but the mere availability of Extended-Period coverage can provide desirable protection, as it is available even if you have become uninsurable.

During the Lifetime Option — Permanent Insurance. Your premium is based on your age and risk class when you convert.

Premium rates for term insurance under this plan are subject to change by the insurer, but your premium for permanent insurance is guaranteed not to increase for the rest of your life.

Go to the Forms tab to access an application.

Select your beneficiary. You may choose more than one, and you may name your alma mater if you wish.

Send no money now. After your application is approved and you pay your first premium, you receive a Certificate with the details of your coverage. If you are not fully satisfied, simply return your Certificate within 30 days for a full refund.

Acceptance is based on your current health, your health history, and other information you provide.

You are asked to provide blood and urine samples to a medical professional who visits at your convenience, by appointment, usually at your home or business—at no cost to you. If you prefer, you may provide these samples at a laboratory. If more medical information is needed, it is requested from you or your medical providers.

Initial coverage (and any increases) usually begin on the day your application is approved if you are able to perform normal activities and the required premium is paid. However, after you receive approval, you may request a different effective date.

Semiannual by check. Semiannual premiums are six times monthly premiums. A fee of $8, subject to change, is added to each bill.

Monthly automatic withdrawal from your bank. You do not write checks or worry about paying late. There is no processing fee for this convenience.

To continue insurance, premiums must be paid on time. Therefore, monthly automatic withdrawal is recommended.