Life Insurance Options For Transitioning Officers
Peace of mind means knowing you've done everything you can to help make sure your family is protected financially.
Now that you are transitioning into civilian life, it’s a good time to step back and take a look at your overall financial picture. One of the most important aspects of that picture is how well you’ve planned for the future.
That’s where life insurance comes in. It’s a sensible and affordable way to help ensure your family’s financial well-being and keep their dreams alive — even if they should suddenly be without you. The Military Officers Association of America (MOAA) Leader Group Term Life Insurance Plan helps bring you peace of mind with these features:
SPECIAL FEATURE FOR TRANSITIONING OFFICERS
You are guaranteed acceptance — with no medical exam — for up to $250,000 of coverage if you’re under age 50 and enroll within 270 days after your discharge (provided your discharge is not health or disability related). If you are age 50 or over, you are guaranteed acceptance for up to $100,000 of coverage. If you enroll, this special guaranteed acceptance coverage is also extended to your spouse1. Your spouse1 would be eligible for up to 50% of your coverage amount, not to exceed the maximum coverage available based on your spouse’s1 age ($125,000 if under age 50 or $50,000 if age 50 or over). Of course, you are free to apply for additional fully underwritten coverage if you desire.
Learn more about the MOAA Active Service Discharge Group Term Life Insurance Plan.
FEATURES
Affordable group rates. Thanks to the group buying power of MOAA, the Leader Group Term Life Plan has affordable group rates. Compare our rates to VGLI.
A choice of generous benefit amounts. Your age determines the maximum benefit for which you may apply:
| AGE | MAXIMUM BENEFIT AMOUNT* |
| Under 50 | $1,000,000 |
| 50-69 | $550,000 |
| 70-74 | $80,000 |
*Your coverage reduces to $550,000 on your first premium due date on or after your 60th birthday. Your coverage reduces to $80,000 on or after your 70th birthday if you have more than $80,000 of coverage. At age 80, your coverage reduces to an $11,000 benefit.
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Leader Group Term Life Insurance
Additional Key Features
- A “Living Benefit” feature allows you to collect up to 50% of your life insurance benefit before you die, if you have been diagnosed with a Terminal Illness, as defined in the certificate, with fewer than 12 months to live. Receipt of the accelerated benefit may be taxable, or may adversely affect your eligibility for Medicaid or other government benefits. You should consult your personal tax advisor to assess the impact of this benefit.
- Your premiums will be waived if an illness or injury leads to a Total Disability, as defined in the certificate, that keeps you from working at your current job.
- Your spouse1 may also apply for this coverage at affordable group rates.
- You are covered 24 hours a day, 365 days a year — even if flying in a military aircraft.
- Travel Assistance Service provides pre-trip information and can help you deal with potential problems you may have while traveling.2
- You and your family have access to Bereavement Support, including Funeral Planning and Will Preparation. In the event of an insured’s death, these services, provided at no additional cost to you, gives you and your family access to bereavement support, funeral planning assistance and will preparation services, including health care directives, that can be used to research and document decisions and wishes.3
