Monthly Group Rates

Member or Spouse Ages 50-64

*Renewal premiums only. Members ages 50–64 can apply for up to $25,000 (in $5,000 increments). 
¹At age 80, coverage, if greater than $5,000, will reduce to $5,000 with an appropriate adjustment in premium. Your coverage cannot be canceled as long as you remain a member of the National Active and Retired Federal Employees Association, pay your premiums on time and the Master Policy remains in force. Coverage for your spouse will continue for as long as he/she remains eligible due to age and marital status. Full details are contained in the Certificate of Insurance, which will be issued to persons who become insured under the Plan. The Plan may not be available to residents of all states. This Plan terminates at age 90.

Monthly Group Rates

Member or Spouse Ages 65-74

*Renewal premiums only. Members ages 65–74 can only apply for $10,000 or $5,000. 
¹At age 80, coverage, if greater than $5,000, will reduce to $5,000 with an appropriate adjustment in premium. Your coverage cannot be canceled as long as you remain a member of the National Active and Retired Federal Employees Association, pay your premiums on time and the Master Policy remains in force. Coverage for your spouse will continue for as long as he/she remains eligible due to age and marital status. Full details are contained in the Certificate of Insurance, which will be issued to persons who become insured under the Plan. The Plan may not be available to residents of all states. This Plan terminates at age 90. 
You will be billed four times a year. If paying by check, an additional $2.00 billing fee will be included on your billing notice payable to the administrator. To save the fee, select Electronic Funds Transfer (EFT) as a safe and secure payment option.
 

Rates and/or benefits may be changed on a class basis. Rates are based on the attained age of the Insured Person and increase as you enter each new age category. 
Coverage begins on the first day of the month following approval by the Insurer and payment of first premium. Coverage continues with no decrease in coverage until you reach age 80.
 

Eligibility: As an active NARFE member, between the ages of 50 and 74, and a resident of the U.S., you and your Spouse are eligible for coverage. Your Spouse may not be legally separated or divorced from you. When Spouses/Domestic Partners are both Eligible Members, coverage may not be duplicated by applying as dependents of each other.
 

Termination: Coverage will end on the earliest to occur of: the date the Master Policy terminates; or the premium due date on or next following the date you: a) cease to be an active member of NARFE; b) attain age 90; the date you are no longer in a class eligible for coverage, or the class is canceled; or the premium due date that you fail to pay any required premium, subject to the Individual Grace Period. Your dependent’s coverage will remain in effect as long as your coverage is active, premiums are paid, and they meet the eligibility requirements.
 

Exclusions: If a Covered Person commits suicide during the first two years of coverage under The Policy, We will only pay the deceased person's Life Insurance Benefit in an amount equal to the premium paid for coverage to the date of death; or during the two years immediately following an increase in coverage under The Policy, We will only pay the deceased person's Life Insurance Benefit in an amount equal to the amount of Life Insurance in force prior to the increase, plus an amount equal to the premium paid for the increase to the date of death.

The full Life Insurance Benefit amount for the deceased person is payable if he or she is covered under The Policy and commits suicide after the two year period.
 

Effective Date: Your coverage will become effective the first of the month upon receipt of the Enrollment form and your first premium payment.
 

Graded Death Benefit: During the first two years of coverage the benefit payable for death due to sickness will be the premiums paid plus interest.
 

Proof of Loss: If you or your dependent die while covered under The Policy, we will pay the deceased person’s Life Insurance Benefit after we receive Proof of Loss, in accordance with the Proof of Loss provision and: 1) if death is the result of an Injury and occurs during the first 2 years of coverage under The Policy, we will pay the deceased person’s Amount of Life Insurance; 2) if death is the result of Sickness and occurs during the first 2 years of coverage under The Policy, the amount payable will be an amount equal to the premiums paid for coverage, with interest, using an annual interest rate of 10% compounded monthly; or 3) if death is the result of an Injury or Sickness and occurs after 2 years of coverage under The Policy, we will pay the deceased person’s Amount of Life Insurance.

These provisions apply to initial Life Insurance coverage and any increases in coverage.

The Life Insurance Benefit will be paid according to the General Provisions of The Policy.

Accelerated Death Benefit Description: 
If a Covered Person:

1. is under age 80;
2. is covered for a term life insurance benefit amount under the policy of at least $5,000;
3. is diagnosed as Terminally Ill while covered under the policy, with a life expectancy of 6 months or less, and gives us satisfactory proof of such Terminal Illness; and
4. requests in writing a portion of the amount of his or her life insurance benefit be paid as an accelerated benefit; we will pay an Accelerated Death Benefit up to 50% (maximum $12,500) of the Covered Person’s Life Insurance Benefit.

Upon satisfactory proof of the Covered Person’s Terminal Illness, we will also:

1. continue his or her life insurance; and
2. premiums for such insurance will be based on the remaining amount of life insurance after the Accelerated Benefit is paid.

However, continued insurance will be subject to any reductions in amounts of insurance provision under the policy. Termination of the policy will not affect such continuation.

The Covered Person’s Amount of Life Insurance payable upon his or her death will be reduced by any Accelerated Benefit Amount already received under this benefit. Receipt of accelerated benefits may be taxable. Seek assistance from your personal tax advisor for more information.

Accelerated benefits may be taxable. These materials are not intended to provide tax, accounting or legal advice and cannot be relied upon for any such purpose. We recommend that you consult with a qualified tax advisor.

Important Definition: Terminal Illness or Terminally Ill means a life expectancy of 6 months or less.