WAEPA Group Term Life Insurance Rates

Our premiums automatically increase every five years.  Applicants must be under age 70 to apply.  Your coverage will terminate upon your 85th birthday.  This is not a quote, the rates shown below are your premiums (as of the age of your approval).

Find your current rate for any coverage amount up to $1.5 million. Simply select your age and payment preference below.

How your coverage and rates adjust over time

Our Group Term Life Insurance premium rates are structured in 5-year age bands.  Your rate will increase when you reach a new age band.  Coverage automatically renews on an annual basis.  Maximum amount of coverage begins to reduce at age 60; however premiums may not reduce.

SAMPLE:
Courtney is 33 years old.  Her $50,000 policy rate is currently $0.81.  Upon her 35th birthday, her rate will adjust to $1.15. She will pay $0.81 from age 30 to 34 and she will pay $1.15 from age 35 to 39.  At age 40, she will pay $1.62.

Chronic Illness Rider (CIR)

This is a life insurance benefit that also gives you the option to accelerate some of the death benefit in the event that you are certified with a chronic illness as described in the certificate.

IMPORTANT NOTICE: This rider is not intended to be a federally tax-qualified long-term care insurance contract under Internal Revenue Code (IRC) Section 7702B. Therefore, the premiums payable for this rider do not qualify as long-term care insurance premiums and are not deductible from gross income for federal income tax purposes. This rider, however, is subject to the federal per diem limits set forth in IRC Section 7702B. Under this rider, New York Life will not pay claimants more than the federal per diem limits. Assuming the amount you receive in the aggregate from all applicable policies does not exceed the federal per diem limits set forth in IRC Section 7702B, the benefits provided by the Chronic Illness Rider are intended to be excludable from federal gross income under Section 101 (g) of the IRC.

Receipt of an accelerated death benefit may affect eligibility for Medicaid or other government benefits or entitlements and may have income tax consequences. Accelerating benefits before applying for these programs, or while you are receiving government benefits, may affect your initial or continued eligibility. Clients can contact the appropriate social service agency (e.g., the Medicaid Unit of your local Department of Public Welfare or the Social Security Administration Office) for more information.

*The following states are not eligible for CIR: CT, ID, LA, MN, MT, NC, OH, SD, UT, WA

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