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Make Sure You Have Enough for ThemGroup Term Life

If you're like many, you probably don't have enough life insurance. 

group term lifeHalf of U.S. households admit that they don't have enough life insurance to adequately support their loved ones and that they would feel the financial impact in 6 months or less.*

If something in your life has recently changed—such as pay increases or promotions, marriages, purchasing a larger home or having children—you probably need to add to your coverage. As an AOPA member, you qualify for term life coverage specifically designed for your active lifestyle—at an affordable group rate and with no aviation exclusions. Currently, you and your spouse1 under age 65 can apply for $5,000 up to $1 million in affordable life insurance through the AOPA Group Term Life Insurance Plan.

*Insurance Barometer Study, Life Happens and LIMRA, 2016

To view a full rate chart, please click on the "Rates" link located next to the "Benefits" link below.

Benefits

Up to $1 million in benefits – You and your spouse1 under age 65 qualify for $5,000 up to $1 million in life benefits. Your dependent children ages 6 months to 19 years (or up to 25 for full-time students) qualify for $5,000 or $10,000 in life benefits. Dependent children age 14 days to less than 6 months qualify for $1,000 or $5,000.

Coverage continues in force until the policy anniversary date after you reach age 70, when benefits reduce 50%. After your 75th birthday, benefits reduce another 50%. Benefits end on the policy anniversary date on or after your 80th birthday.

Pays “living benefits” – If you are diagnosed as terminally ill with less than 6 months to live, you can request up to 50% of your benefits (or $500,000, whichever is less) through the plan’s Accelerated Life Benefit. You can use this money any way you wish—to help pay for medical expenses, homemaker services or other expenses. The remainder of your benefit amount will be paid to your beneficiary(ies) after your death. (Please note: The receipt of Accelerated Life Benefits may be taxable. You should seek assistance from a personal tax advisor in order to assess possible tax implications.)

No aviation exclusions – This plan does not have any aviation exclusions, unlike some life insurance plans that exclude aviation-related activities. 

Portable coverage – You can take this coverage with you if you leave your current job or move. It is not tied to your career or to any one employer.

Affordable group rates – As an AOPA member, you pay an affordable group rate for this coverage. Please see the Rates tab above for pricing.

Conversion privileges – When your coverage terminates or reduces, your life insurance can be converted to an individual whole life policy within 31 days—without regard to your health at that time. This privilege also applies to spouse1 and child coverage.

Travel Assistance Services – You will be covered under the Voya Travel Assistance program at no cost to you. When traveling more than 100 miles from home, Voya Travel Assistance offers you and your dependents four types of services: Pre-Trip Information, Emergency Personal Services, Medical Assistance Services, and Emergency Transportation Services. Voya Travel Assistance Services provided by Europ Assistance USA, Bethesda, MD.  Services are not available in all states.

Funeral Planning and Concierge Services – Offers members a unique opportunity to discuss and obtain funeral planning information for themselves and eligible family members from independent experts regarding the planning of a funeral. Funeral Planning and Concierge Services provided by Everest Funeral Package, LLC, Houston, TX.  Services are not available in all states.

1Reference to spouse include New Jersey civil union partners as well as partners in same-sex relationships formedin other jurisdictions thatprovide substantially all of therights and benefits ofmarriage but which may havebeen formed under a differentname. Spouses are limited tothe amount of insurance forwhich the member is insured.

This is a summary of benefits only.  A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of coverage.  All coverage is subject to the terms of the group policy.  If there is any discrepancy between this document and the group policy documents, the policy documents will govern.

Life insurance coverage is provided under the terms of a group life insurance policy, Group Policy 66702-1 issued and delivered in the state of New Jersey, and governed by its laws, to the Aircraft Owners and Pilots Association as the policyholder. The group life insurance policy is issued by ReliaStar Life Insurance Company, Minneapolis, Minnesota. This is a paid endorsement.  AOPA receives a fee from the insurance broker and/or the insurer for its endorsement of this plan.    Plan is administered by Mercer Health & Benefits Administration LLC, an insurance administrator licensed in the state of New Jersey.  In CA d/b/a Mercer Health & Benefits Insurance Services LLC AR Insurance License #100102691 •  CA Insurance License #0G39709.  Our Role and Compensation

Rates

GROUP TERM LIFE

MONTHLY RATES PER $1,000 BENEFIT.

Members Age Tobacco No Tobacco
Under 30 0.210 0.083
30-34 0.210 0.083
35-39 0.360 0.143
40-44 0.510 0.210
45-49 0.660 0.263
50-54 0.934 0.364
55-59 1.365 0.569
60-64 1.983 0.892
65-69 1.983 0.992
70-74* 3.967 1.983
75-79* 7.933 3.967

For $5,000 Dependent Child Coverage, rate is $1.00 per month.
For $10,000 Dependent Child Coverage, rate is $2.00 per month.
*Coverage reduces to 50% at age 70, and to 25% at age 75. Coverage terminates at age 80.

For your convenience, you will be billed quarterly. Premium rates are based on your age and increase as you enter a new age bracket. Insurance provided by ReliaStar Insurance Company.  Policy Form LP08GP

Rates shown are as guaranteed until January 1, 2017.  

Please see your application packet for your specific rate.

 

Frequently Asked Questions

What is the Accelerated Life Benefit

With this benefit, you can collect a portion of your benefit amount (up to 50%) if you are diagnosed with a terminal illness with less than six months to live. You can use your life insurance proceeds to help pay medical or other expenses during this difficult time. Your beneficiary would then receive the remainder of your benefits after your death.

Will I need to take a medical exam to obtain coverage

Proof of good health is required for acceptance. This may or may not include a medical exam. If an exam is required, it will be performed at your convenience and at no expense to you.

Why would I need this life coverage

Most likely you already have some life insurance—but is it enough and does it cover your aviation activities? Inflation, economic conditions, and lifestyle changes can all eat away at the value of that life insurance. If something happened to you, your current life insurance may not be enough to adequately support your loved ones. AOPA Group Term Life Insurance makes it easy and affordable you to obtain additional life insurance.

Are there any aviation exclusions under this plan

There are no aviation exclusions under this plan. Your aviation activities are covered, unlike some life insurance plans that exclude flying in recreational or commercial aircraft. 

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Aviation

800.622.AOPA (2672)

Life Insurance and Travel

877.432.AOPA (2672)

AD&D

844.304.AOPA (2672)

EA+

844.603.0568

Loss of Medical

800.241.6103

 

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