Group Level Term Life Insurance

You and your spouse can apply for up to $1,000,000 in level life coverage. Benefit levels start at $25,000 and are available in increments of $25,000.

Your spouse can apply for coverage if he or she meets the age eligibility and is not legally divorced or separated from you. Your children ages 15 days to under 6 months are eligible for $1,000 in coverage. Your children ages 6 months through 25 years are eligible for $10,000 in coverage.

The total amount of coverage an individual may have under all group life insurance policies underwritten by New York Life Insurance Company may not exceed $1,500,000. In addition, the total amount of coverage an individual may have under all group policies issued by New York Life Insurance Company to the Trustee of the Military Officers Association of America may not exceed the maximum benefit option for any insured person.

*Preferred Non-tobacco rates are not available for coverage amounts less than $100,000.

*Preferred Non-tobacco rates are not available for coverage amounts less than $100,000.

*Preferred Non-tobacco rates are not available for coverage amounts less than $100,000.

Your rate for the entire term of your coverage is designed to be the rate for your age at the time coverage is issued.

For a $525,000 benefit amount, multiply the rates by 52.5. For a $1,000,000 benefit amount, multiply by 100, etc.
For rates for ages below 30 and above 60, call 1-800-247-2192. For your convenience, you’ll be billed every three months. Non-tobacco users applying for $100,000 in coverage or more and meeting the highest underwriting standards may qualify for the Preferred rates. Preferred non-tobacco rates are not available for coverage amounts less than $100,000. Other non-tobacco users may qualify for Select non-tobacco rates. You qualify for non-tobacco rates if in the past 12 months you have not used tobacco or nicotine products in any form. All tobacco users approved for coverage qualify for Standard Tobacco rates. Once approved, you’ll be notified of your rate classification. $1 a month covers all of your eligible children. Children 15 days to under 6 months are eligible for $1,000 in coverage. Children 6 months through 25 years are eligible for $10,000 in coverage. Rates shown are as of March 1, 2025.

*Preferred Non-tobacco rates are not available for coverage amounts less than $100,000.

*Preferred Non-tobacco rates are not available for coverage amounts less than $100,000.

*Preferred Non-tobacco rates are not available for coverage amounts less than $100,000.

Your rate for the entire term of your coverage is designed to be the rate for your age at the time coverage is issued.

For a $525,000 benefit amount, multiply the rates by 52.5. For a $1,000,000 benefit amount, multiply by 100, etc.
For rates for ages below 30 and above 60, call 1-800-247-2192. For your convenience, you’ll be billed every three months. Non-tobacco users applying for $100,000 in coverage or more and meeting the highest underwriting standards may qualify for the Preferred rates. Preferred non-tobacco rates are not available for coverage amounts less than $100,000. Other non-tobacco users may qualify for Select non-tobacco rates. You qualify for non-tobacco rates if in the past 12 months you have not used tobacco or nicotine products in any form. All tobacco users approved for coverage qualify for Standard Tobacco rates. Once approved, you’ll be notified of your rate classification. $1 a month covers all of your eligible children. Children 15 days to under 6 months are eligible for $1,000 in coverage. Children 6 months through 25 years are eligible for $10,000 in coverage. Rates shown are as of March 1, 2025.

Valuable Living Benefit Provision “Accelerated Death Benefit”.

The Accelerated Death Benefit option is available to help terminally ill people who are insured during a difficult and often financially challenging time. Under this provision you may request one advance payment equal to 50% or $100,000 of the qualified terminally ill person’s in-force life insurance to be paid while that person is still alive.

The request must be made at least 12 months prior to the insured person’s scheduled coverage termination age and the amount of insurance payable after the insured person’s death will be reduced by this payment. (Premium contributions will not be reduced.)

You can choose how you want to use the money:

• High prescription drugs costs
• Medical bills
• Outstanding debts
• Experimental treatments
• Modifying your home
• A family vacation

To qualify, a terminally ill person who is insured must provide New York Life Insurance Company with proof of terminal illness and anticipated life expectancy (12 months or less), as well as any other necessary medical information requested. For additional details and limitations, please see the Certificate of Insurance.

Please note that receipt of accelerated death benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should consult with the appropriate social services agency and seek the advice of a qualified tax advisor.

You’ll pay no premiums if you’re disabled.

If you become disabled, as defined in the Certificate, while covered under this policy, your premiums will be waived during your disability — as long as your disability begins before age 60 while you are covered under the group policy and you are disabled for at least six consecutive months.

Exclusions

Coverage is payable for death by any cause except death from suicide during the first year of coverage, whether sane or insane, for which the only benefit payable is the return of applicable premium contributions. 

Incontestability

The validity of any amount of your life insurance which has been in force for two years during an insured’s lifetime will not be contested except for insurance eligibility provisions and non-payment of premium contributions. 

Your Choice of Beneficiary

You may select any person, persons, trust or other legal entity as your beneficiary. If, at the time of your death, there are no surviving beneficiaries, benefits will be paid to the executor or administrator of your estate, or at the option of New York Life Insurance Company, to the owner’s surviving relatives in the following order of survival: spouse; children equally; parents equally; or brothers and sisters equally. 

Effective Date

You and your dependents will become insured on the date specified by New York Life Insurance Company provided the initial premium contribution is paid within 31 days after the date you are billed (send no money now), satisfactory evidence of insurability has been submitted, and you and your dependents are performing the normal activities of a person in good health of like age on that date. Coverage for any person who is not performing his or her normal activities on the date coverage would otherwise become effective will not become effective until the date he or she is performing such activities, provided such date is within three months of the date insurance would have been effective and the person is still eligible for insurance. (Payment of a premium contribution for insurance does not mean there is any coverage in force before the effective date as specified by New York Life Insurance Company.)

When Coverage Ends

Coverage will end earlier if: (a) premium contributions are not paid when due; (b) membership in MOAA ceases; (c) the group policy is terminated or modified by the Policyholder to end insurance for the group of insureds to which the member belongs; (d) if the insured requests to terminate insurance; (e) for the insured spouse, the last day of the insurance period during which the insured spouse ceases to be the lawful, married spouse of the insured member. Coverage for dependent children terminates upon their attainment of age 26.

Renewability After the Level Term Ends

Premiums are expected but not guaranteed to remain level for the first level term years of coverage. At the end of the level term year period, you may reapply for another level term, at the rate then in effect for a subsequent level term period, provided the insured person is under age 70 (10-year), under age 66 (15-year), under age 61 (20-year) and otherwise eligible. If your application for a subsequent level term is approved, your premium contribution will be based on the insured person’s age, health and tobacco/nicotine use at the time coverage becomes effective for a new level term.

If evidence of insurability is not provided or not approved by New York Life, coverage, up to $50,000 will be moved to the MOAA Leader Group Annual Term Life Insurance and rates will be based on the five-year age brackets for the insured’s current age under rates and provisions of that policy.

Renewal Payments and Claims

Once your application is approved, you will have a 31-day grace period for your payment of renewal premium contributions. When you want to submit a claim, call or write the Plan Administrator, AMBA, for claim forms.
 

Certificate Of Insurance

This information is only a brief description of the principal provisions and features. The complete terms and conditions are set forth in the group policy issued by New York Life Insurance Company to the Military Officers Association of America. When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the policy. Certain state restrictions apply.