Q. How long can you keep coverage?
A. A member can keep coverage up to age 80. For example, if a member purchases The ANA Member Term Life Plan at age 32, they may keep it for as long as they want, provided they continue to pay their premiums and maintain membership. Premiums are based on your age at the time you initially enroll. The premiums will increase each time you enter into a different 5-year age bracket (which occur when you turn 35, 40, 45, 50, etc.). Your full benefit is guaranteed not to decrease before you turn 65. At age 65, the benefit amount will reduce to 65% of the amount in force at age 64. At age 70, your benefit amount will reduce to 50% of the amount in force at age 64 and at age 75, your benefit amount will reduce to 25% of the amount in force at age 64.
Q. Who is the insurance carrier for The ANA Member Term Life Plan?
A. The Prudential Insurance Company of America is the carrier. Our alliance with the company is based on a rigorous process of evaluating the marketplace to find the best products and services for ANA members. You can count on Prudential’s experience to offer the quality and service you deserve.
Q. Do I need a medical exam?
A. Yes. It’s easy to apply for coverage. In most cases, to qualify you need to answer a few simple health questions about your medical history. Although medical exams are not typically required, it may be necessary depending on your medical history. You also must be an ANA member to apply for and maintain coverage. Once you are covered, you don’t have to be concerned about losing your coverage as you get older or if your health changes.
Q. How much coverage can I apply for?
A. ANA Members are eligible for a range of coverage amounts—anywhere from $50,000 up to a maximum of $500,000. Your spouse/domestic partner is eligible for up to $250,000 of coverage, not to exceed 50% of your elected amount. Dependent child(ren) can receive a flat coverage amount of $10,000.
Q. Can I increase my initial coverage?
A. Yes, coverage can be increased anytime; however, it will be subject to medical underwriting approval and cannot exceed $500,000. (Amounts vary depending on the age of the member.)
Q. What if I change jobs or retire?
A. The ANA Member Term Life Plan coverage is portable. As long as you remain an ANA member and continue to pay your premiums when they are due, your coverage will remain in effect even if you change jobs or retire. Coverage terminates at age 80.
Q. Are the members-only rates lower than the rates for the general public?
A. Thanks to the buying power of ANA and our 225,000+ members, affordable rates have been negotiated for members and their spouses/domestic partners. Premiums are competitive across rate categories.
Q. Can my spouse and dependent children be covered under this program?
A. Yes, as long as the ANA member has The ANA Member Term Life Plan, coverage is available to the spouse (or domestic partner where permissible by law) of a member for up to 50% of the member’s coverage amount and to their children at flat coverage amounts of $10,000.
Q. Are benefits available if I become terminally ill?
A. Yes, with the Accelerated Benefit Option, if you become terminally ill, you may elect to receive 90% of your coverage (maximum of $100,000) while you are still living. The money can be used for any purpose such as medical bills, outstanding debts or mortgage payments. This option will reduce your death benefit by 90%. To be eligible for this option, you must be diagnosed terminally ill and given 6 months or less to live.
