How do you ensure your family maintains their standard of living if they have to live without you and without your income? When there isn’t enough life protection, surviving loved ones often face very difficult circumstances, having to take out loans, move to smaller, less expensive housing, work additional jobs or longer hours, or forego a child’s higher education.
It’s important to ensure that you have enough coverage so that you help protect your family in the event you are no longer there. According to a 2010 study by the Life and Health Insurance Foundation for Education, 68 million Americans have no life insurance at all and of those who do have coverage, most don’t have enough to ensure a secure financial future for their families.
Level Term Life coverage is an affordable way to offer Level Term Life coverage since rates are guaranteed not to increase for 10 full years. The AIA Trust offers several additional advantages of owning Level Term Life coverage:
LEVEL PREMIUMS FOR 10 YEARS: Rates are guaranteed not to increase for 10 full years, depending on the term you select, and your coverage will stay constant until the term you select ends or you reach age 75, which ever occurs first. At the end of the 10-year period, coverage can continue in force on a non-guaranteed basis without evidence of insurability. Or, if you are under age 65, you may apply for a subsequent 10-year period of a guaranteed level rate at your then-current age—subject to submission of satisfactory medical evidence.
MONEY-SAVING GROUP RATES & VOLUME DISCOUNTS: For coverage amounts of up to $1,000,000, you can qualify for volume discounts to help you save money while providing additional coverage to help your family when needed—see the money-saving group rates.
PAYS “LIVING” BENEFITS: This valuable benefit can be used to help pay expensive medical bills or to help cover the mortgage or other bills if you’re not able to work, or to use however you see fit. If you become terminally ill, the Accelerated Death Benefit option allows you to collect up to 50% of your life insurance benefits if diagnosed with less than 12 months to live (24 months for residents of Illinois).
VALUABLE BENEFIT LEVELS: You can provide up to $1,000,000 in coverage for you and your spouse (10-Year Level Term Life if under 60).
DOMESTIC PARTNERS COVERED: In addition to covering a lawful married spouse, the plan may now cover a domestic partner who meets eligibility criteria as defined by the plan.
The AIA Trust has partnered with New York Life Insurance Company to offer 10-Year Level Term Life coverage exclusively for AIA members. It’s easy to learn more about the AIA Group 10-Year Level Term Life plan online, where you can check out the benefits, rates, and application form. It is important to take the time to review your life insurance needs now and make sure you have enough for your family today.
New York Life Insurance Company, a financially stable and reputable insurance carrier, was rated A++ by A.M. Best (January 6, 2011) for financial strength.
Both the Group 10 Year and 20 Year Level Term Life Insurance Plans are underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 under Policy Form GMR Group Policy G-11106-0/FACE and G-11107-0/FACE. Complete details including features, costs, eligibility, renewability, limitations and exclusions are contained in the Certificate of Insurance issued to each insured.