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Extra protection for your golden years50+ Term Life

Everyone who flies may be young at heart. But you'll need to act your chronological age when it comes to keeping pace with inflation, increasing medical costs and final expenses planning.

man over age 50 in an aircraftJust like you maintain your aircraft, license, auto, home, and electronics to keep pace with changing times, you also need to maintain your life insurance. However, obtaining quality, affordable coverage after age 50 can be difficult.

That’s not the case with the AOPA 50+ Term Group Life Insurance Plan. Specifically designed for AOPA members over 50 with busy, active lifestyles, this affordable coverage has no aviation exclusions—something you won't get from an average life insurance.

Currently, AOPA members age 50 to under 75 (and spouses1  age 45 to 75) can obtain $10,000 up to $50,000 in economical life insurance without submitting to a medical exam. That makes 50+ Term Life Insurance an easy and affordable way to add to the life benefits your loved ones may need later on if something happens to you.

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

benefits

Up to $50,000 in Life Benefits – AOPA members age 50 to 75 can qualify for $10,000 up to $50,000 in life benefits. Your spouse1  also qualifies for coverage if he or she is at least age 45 and under age 75.

Coverage reduces to 50% at age 75, to 25% at age 80 and to $2,500 at age 85. When your coverage reduces it will never reduce below $2,500.

Pays “living benefits” – If you are diagnosed as terminally ill with less than 12 months to live, you can request up to 50% of your benefits 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 prepare for final 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 the payment of benefits if your death is caused by piloting or flying in any aircraft. 

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.

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 spousecoverage.

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

1 Reference to spouse include New Jersey civil union partners as well as partners in same-sex relationships formed in other jurisdictions that provide substantially all of the rights and benefits of marriage but which may have been formed under a different name. Spouses are limited to the amount of insurance for which 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.  Policy Form LP08GP.  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

50+ GROUP TERM LIFE

MONTHLY RATES PER $1,000 BENEFIT

Attained Age Male Female
45-49 0.60 0.41
50-54 0.83 0.47
55-59 1.24 0.71
60-64 1.80 1.19
65-69 2.78 2.01
70-74 3.88 3.04
75-79* 6.02 4.63
80-84* 10.41 7.50
85-89* 15.99 12.17
90+* 25.20 19.89

*Renewal rates. Coverage reduces to 50% at age 75, to 25% at age 80, and to $2,500 at age 85.

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 underwritten by ReliaStar Life Insurance Company.  Policy Form LP08GP

Rates shown are guaranteed until January 1, 2018.  Apply for coverage today! Remember, no medical exam is required to obtain this coverage.

Please see your application packet for your specific rate.

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Contact Us for Support

Aviation

800.622.AOPA (2672)

Life Insurance

844.304.AOPA (2672)

AD&D

844.304.AOPA (2672)

EA+

844.603.0568

Loss of Medical

800.241.6103

 

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