Leader Group Term Life Insurance

*Preferred Non-tobacco rates are not available for coverage amounts less than $100,000.

**Renewal rates only.

Your coverage reduces as you age. At age 60, your benefit reduces to 65% of the amount in force before age 60; at age 65, it reduces to 45%; at age 70, it reduces to 30%; at age 75, it reduces to 20%; at age 80, it reduces to 10%; at age 85, it reduces to 5%. If you apply for coverage or change your coverage amount after age 60, future reductions will be based on that adjusted amount. Full details are in the Certificate of Insurance.

Valuable Living Benefit Provision “Accelerated Death Benefit”.

The Accelerated Death Benefit option is available to help terminally ill people who are insured during a difficult and often financially challenging time. Under this provision you may request one advance payment equal to 50% or $100,000 of the qualified terminally ill person’s in-force life insurance to be paid while that person is still alive.

The request must be made at least 12 months prior to the insured person’s scheduled coverage termination age and the amount of insurance payable after the insured person’s death will be reduced by this payment. (Premium contributions will not be reduced.)

You can choose how you want to use the money:

• High prescription drugs costs
• Medical bills
• Outstanding debts
• Experimental treatments
• Modifying your home
• A family vacation

To qualify, a terminally ill person who is insured must provide New York Life Insurance Company with proof of terminal illness and anticipated life expectancy (12 months or less), as well as any other necessary medical information requested. For additional details and limitations, please see the Certificate of Insurance.

Please note that receipt of accelerated death benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should consult with the appropriate social services agency and seek the advice of a qualified tax advisor.

You’ll pay no premiums if you’re disabled.

If you become disabled, as defined in the Certificate, while covered under this policy, your premiums will be waived during your disability — as long as your disability begins before age 60 while you are covered under the group policy and you are disabled for at least six consecutive months.

Eligibility

MOAA members under age 75 are eligible to apply for coverage for themselves, their lawful spouses under age 75, and unmarried dependent children ages 15 days through 25 years. In order to become insured, satisfactory evidence of insurability must be provided and the required premium contribution must be paid. A dependent who is a member is eligible for either member or dependent coverage, but not both. If both member and spouse are covered as members, neither may insure the other as spouse and only one may insure any eligible children.

This coverage is available only for residents of the United States. Coverage may not be available in all states

Exclusions

Coverage is payable for death by any cause except death from suicide during the first year of coverage, whether sane or insane, for which the only benefit payable is the return of applicable premium contributions

Incontestability

The validity of any amount of your life insurance which has been in force for two years during an insured’s lifetime will not be contested except for insurance eligibility provisions and non-payment of premium contributions

Your Choice of Beneficiary

You may select any person, persons, trust or other legal entity as your beneficiary. If, at the time of your death, there are no surviving beneficiaries, benefits will be paid to the executor or administrator of your estate, or at the option of New York Life Insurance Company, to the owner’s surviving relatives in the following order of survival: spouse; children equally; parents equally; or brothers and sisters equally

Effective Date

You and your dependents will become insured on the date specified by New York Life Insurance Company provided the initial premium contribution is paid within 31 days after the date you are billed (send no money now), satisfactory evidence of insurability has been submitted, and you and your dependents are performing the normal activities of a person in good health of like age on that date. Coverage for any person who is not performing his or her normal activities on the date coverage would otherwise become effective will not become effective until the date he or she is performing such activities, provided such date is within three months of the date insurance would have been effective and the person is still eligible for insurance. (Payment of a premium contribution for insurance does not mean there is any coverage in force before the effective date as specified by New York Life Insurance Company.)

Amounts of Insurance at Ages 60 and After

The amount of life insurance for you is based on your age and the amount of life insurance for your spouse is based on your spouse’s age at last birthday, and depending upon the applicable option. Your amount of insurance reduces as you age. At age 60, your benefit reduces to 65% of the amount in force before age 60; at age 65, it reduces to 45%; at age 70, it reduces to 30%; at age 75, it reduces to 20%; at age 80, it reduces to 10%; at age 85, it reduces to 5%. If you apply for coverage or change your coverage amount after age 60, future reductions will be based on that adjusted amount. Full details are in the Certificate of Insurance.

When Coverage Ends

Insurance for you/your spouse can remain in force provided: (a) you continue to pay premium contributions when due; (b) you remain a member of MOAA; and (c) the group policy is not terminated or modified by the Policyholder or New York Life Insurance Company to end insurance for the group of insureds to which you belong. Upon your death, coverage for insured dependents may continue as described in the Certificate of Insurance. Coverage for dependent children terminates upon their attainment of age 26.

Renewal Payments and Claims

Once your application is approved, you will have a 31-day grace period for your payment of renewal premium contributions. When you want to submit a claim, call or write the Plan Administrator, AMBA, for claim forms

Certificate Of Insurance

This information is only a brief description of the principal provisions and features. The complete terms and conditions are set forth in the group policy issued by New York Life

Insurance Company to the Military Officers Association of America. When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the policy. Certain state restrictions apply.

30-Day Free Look

If you’re not completely satisfied with the terms of your Certificate of Insurance, you may return it, without claim, within 30 days. Your coverage will be invalidated, and you will be sent a full refund, no questions asked!