Level Term I
| Who the Policy is For |
Members under age 50 (non-nicotine users)
Members under age 40 (nicotine users)
Children and grandchildren 18-23 years old
Those looking for an alternative or supplement to Servicemembers Group Life Insurance (SGLI)
Spouses of AAFMAA members
|
| Policy Features |
Term Life Insurance $10,000 per dependent child under age 21 at no additional cost
Individual low-cost coverage up to $800,000
Coverage in $5,000 increments (minimum of $50,000)
Constant premium for the life of the policy
No coverage limitations based on rank or deployment status
Death benefit remains level to age 50* then decreases until termination at age 60*
Convert 100% of the initial face amount to 5 Year Renewable Term prior to age 48* to continue coverage without additional medical underwriting
Conversion amounts are guaranteed regardless of health
Conversion to Value-Added Whole Life is allowed for the in force face amount at any time without additional medical underwriting. New premiums are established at time of conversion based upon the insured’s age and nicotine status
|
*Subtract 10 years for nicotine users
Comparison to SGLI
|
Coverage Amount |
AAFMAA Level Term I* |
SGLI** |
| $100,000 |
$5.90 |
$6.50 |
| $400,000 |
$19.00 |
$26.00 |
| $800,000 |
$35.00 |
n/a |