As a teacher, you know the importance of planning ahead and protecting your loved ones. But figuring out which life insurance policy best suits your needs can feel overwhelming. Balancing financial obligations like student loans, mortgages, supporting a family and planning for retirement while managing a teaching career makes choosing the right coverage even more critical.
To help simplify the process, we’ve outlined three NEA life insurance options designed with educators in mind: NEA Group Term Life Insurance, NEA Level Premium Group Term Life Insurance, and NEA Guaranteed Issue Life Insurance. Each plan offers unique benefits to fit the specific needs of teachers at different stages of their careers.
In just a few minutes, you’ll have a better sense of how these different insurance plans could help you so you’ll know which options to investigate further based on your own needs.
1. NEA® Group Term Life Insurance Plan
NEA Group Term Life Insurance (hyperlink to product page) offers affordable coverage, thanks to exclusive rates negotiated for NEA members. This plan is ideal for teachers who want flexible coverage amounts ranging from $25,000 to $500,000, which can help your loved ones manage financial obligations like a mortgage, college tuition, or daily expenses.
This plan is a great choice for younger teachers starting their careers, as it provides an affordable safety net. Additionally, teachers nearing retirement can rely on this policy to provide ongoing protection, as benefits remain intact even if your employment changes.
What is group term life insurance?
Who can get an NEA Group Term Life Insurance policy?
Under this plan, coverage is available to the spouse (or domestic partner where permissible by law) of a member at 100% or more of the member’s coverage amount and to their children at a flat coverage amount of $10,000. Dependents can be covered up to age 21, or 25 if they are full-time students.
Is a medical exam required?
The rates for smokers are higher than for non-smokers.
Could I ever be dropped for employment or health reasons?
If you change schools or retire, your NEA Group Term Life Insurance coverage is portable as long as you remain an NEA member and continue to pay your premiums when they are due.
How affordable is an NEA Group Term Life Insurance policy?
When do the benefits kick in?
Where can I find more information about NEA Group Term Life Insurance?
2. NEA® Level Premium Group Term Life Insurance Plan
Our Level Premium Group Term Life Insurance (hyperlink product page) combines the benefits of group term life insurance with the added security of locked-in premiums. Your NEA member rate won’t increase for the duration of your term, no matter your age or health, making it easier to budget for the future. Choose coverage amounts between $25,000 and $1,000,000 (in $50,000 increments) with term lengths of 10, 15, or 20 years.
Level premium plans are particularly beneficial for teachers with long-term financial obligations, such as a mortgage or children’s college expenses. Knowing your rates won’t change gives you peace of mind, whether you’re just starting your teaching career or planning for retirement.
What is level premium group term life insurance?
Who can get an NEA Level Premium Group Term Life Insurance policy?
This policy also is appropriate for members whose financial obligations require a significantly higher coverage amount. You can choose plans ranging from $25,000 to $1,000,000 (in $50,000 increments).
Is a medical exam required?
The rates for smokers are higher than for non-smokers.
Could I ever be dropped for employment or health reasons?
If you change schools or retire, your NEA Level Premium Group Term Life Insurance coverage is portable as long as you remain an NEA member and continue to pay your premiums when they are due.
How affordable is an NEA Level Premium Group Term Life Insurance policy?
You can get a rate quote to determine how much a policy may cost based on the coverage amount desired, your age, and your smoker status.
When do the benefits kick in?
Where can I find more information about NEA Level Premium Group Term Life Insurance?
3. NEA® Guaranteed Issue Life Insurance Plan
Our Guaranteed Issue Life Insurance (hyperlink product page) plan is designed to help cover final expenses, like burial costs or unpaid bills, with fixed coverage amounts of up to $20,000. With no medical exam or health questions required, this plan is perfect for older teachers or those who may not qualify for other types of life insurance due to health concerns.
This plan is particularly valuable for retired teachers or those nearing retirement who want to ensure their families are not burdened with end-of-life expenses. It’s also a great option for educators with health concerns who might not qualify for traditional life insurance, offering accessible coverage without the need for medical exams or health screenings.
What is guaranteed issue life insurance?
Who can get an NEA Guaranteed Issue Life Insurance Plan policy?
How affordable is an NEA Guaranteed Issue Life Insurance Plan policy?
When do the benefits kick in?
Where can I find more information about NEA Guaranteed Issue Life Insurance Plan?
Why Life Insurance Matters for Teachers
Explore the options above to find the plan that best fits your unique needs as an educator. Whether you’re looking for affordable group coverage, long-term stability, or a plan designed for final expenses, the NEA has a solution for you.
Want to learn more about which life insurance plan is right for you?
*Accelerated Death Benefit option is a feature that is made available to group life insurance participants. It is not a health, nursing home or long-term care insurance benefit and is not designed to eliminate the need for those types of insurance coverage. The death benefit is reduced by the amount of the accelerated death benefit paid. There is no administrative fee to accelerate benefits. Receipt of accelerated death benefits may affect eligibility for public assistance and may be taxable. The federal income tax treatment of payments made under this rider depends upon whether the insured is the recipient of the benefits and is considered terminally ill. You may wish to seek professional tax advice before exercising this option.
This material may contain marketing language, on products issued by The Prudential Insurance Company of America, that has not yet been approved in all states.
Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. The Booklet-Certificate contains all details, including any policy exclusions, limitations, and restrictions, which may apply. If there is a discrepancy between this document and the Booklet-Certificate/Group Contract issued by The Prudential Insurance Company of America, the Group Contract will govern. In Washington, the controlling document is the Certificate, not the Contract. Contract Series: 83500
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