15 Year Group Level Term
Life Insurance Renewal

Several years ago, you made the decision to purchase USBA 15 Year Group Level Term Life Insurance coverage to help loved ones make the financial transition should something happen to you. This is solid protection underwritten by New York Life Insurance Company, one of America’s oldest and strongest life insurance companies.

Your Level Term Life Insurance policy is designed to renew automatically, regardless of changes in your health since you first applied. There’s no physical exam required, no need to re-apply. Your new premium will be based on your age and smoking status at the time of renewal.

While you are guaranteed automatic renewal without underwriting, you may consider re-applying for money-saving options. If you’re in good health, you could save as much as 50% by submitting an application and receiving underwriting approval. You may even qualify for Preferred rates. Please view the policy details of your specific insurance for more information on age restrictions.

Q: Why is my 15 Year Level Term Life Insurance Policy coming up for renewal?
A: This policy is designed to provide an unchanging level amount of insurance protection for a designated period of time. After those years, your Certificate of Insurance guarantees you the right to automatic renewal without underwriting (no health questions, no physical) at a new rate reflecting your age and smoking status at the time of renewal. This is an important benefit if your health has changed in the past several years and you are concerned about getting underwriting approval for new insurance.

Q: How do I renew my coverage?
A: Renewal will be automatic at the anniversary of your coverage if you are under the age limit on your renewal date. You don’t need to do anything. Please view the policy details for more information on age restrictions.

Q: Why does my rate increase?
A: Your new rate is higher because it is based on your age at renewal. It is also higher because it does not require additional underwriting. Also, those with Preferred Rates renew at Standard nonsmoker rates unless they go through full underwriting with a new application.

Q: I’m not sure if I still need the same amount of insurance. If I take out less coverage, will this lower my premium?
A: Yes, your premium is based, in part, on how much coverage you buy. If your situation has changed (children are grown, mortgage is paid off, etc.), you may want to decrease your coverage amount and lower your premium. You also have the option to increase coverage if your financial responsibilities have increased. Underwriting will be required for any increases in coverage. Increases in coverage will increase the monthly premium.

Q: Are there other life insurance options available through USBA?
A: Yes, we offer many different policies underwritten by New York Life Insurance Company that may fit your budget and still meet your need to protect your family’s future. Please call us at (800) 821-7912 to discuss your options with a USBA Product Specialist, or review other USBA life insurance policies online.

Q: Since I first took out this insurance, I stopped smoking. Does this affect my rates?
A: It might. It may lower your rates as much as 50%. To qualify for non-smoker rates, underwriting is required. A smoker is defined as having used tobacco in any form, including nicotine patches and nicotine gum, in the last 24 months.

Q: My spouse also has USBA 15 Year Group Level Term Life Insurance. Does that policy automatically renew when mine does?
A: Your spouse’s coverage is independent of yours. However, if both your insurance and your spouse’s insurance became effective on the same date, then your spouse’s policy will renew on the same date.

LTRENEWAL