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Comparing Three Types of Life Insurance Plans
You probably know that it’s important to help protect your family and your finances, but figuring out what life insurance policies to sign up for can be confusing and time-consuming.
To help you sort through your options quickly, NEA Member Benefits has compiled some key information about 3 of our popular life insurance options: NEA Group Term Life Insurance, NEA Level Premium Group Term Life Insurance and NEA Guaranteed Issue Life Insurance.
In just a few minutes, you’ll have a better sense of how these different insurance plans could help you and your family, and which options to investigate further based on your own needs.
1. NEA® Group Term Life Insurance Plan
NEA’s exclusive negotiated group rates are typically very affordable, thanks to the combined purchasing power of their 3 million members. You can use this kind of group term life insurance to help safeguard your family with coverage amounts ranging from $25,000 to $500,000 to help your spouse and dependents pay for financial obligations such as a mortgage, college costs, an auto loan or anything else they’ll need to cover.
Click here to watch a short video and find answers to frequently asked questions about group term life insurance and the options available to NEA members.
2. NEA® Level Premium Group Term Life Insurance Plan
This insurance is similar to the NEA Group Term Life Insurance discussed above, but “Level Premium” indicates that this insurance plan offers the security of locked-in rates. Your NEA member rate won’t increase at all during your term, no matter your health or age, making it easier to budget and plan. You can choose term lengths of 10, 15 or 20 years, with coverage amounts ranging from $25,000 to $1,000,000 (in $50,000 increments), to help your loved ones manage large financial obligations.
Learn more about level-premium group term life and options for NEA members here.
3. NEA® Guaranteed Issue Life Insurance Plan
Guaranteed issue life insurance is meant to provide a fixed amount of money, up to $20,000, to help your loved ones cover your final expenses and burial costs – and avoid financial hardship.
A short video and answers to frequently asked questions about guaranteed Issue life insurance may be found here.
NEA Group Term Life Insurance, NEA Level Premium Group Term Life Insurance, and NEA Guaranteed Issue Life Insurance all are issued by The Prudential Insurance Company of America, Newark, NJ. The Booklet-Certificate contains all details including any policy exclusions, limitations and restrictions that may apply. CA COA #1179, NAIC #68241. Contract Series 83500, 31300.