Life Insurance Awareness Month: Time to Reassess Your Coverage

This content is sponsored by MOAA Insurance Plans.

Life rarely stands still — and neither should your life insurance. As careers advance, families grow, and priorities shift, the coverage that made sense five or 10 years ago may no longer fit.

September is Life Insurance Awareness Month, a fitting reminder for MOAA members: financial readiness isn't a box you check once and forget. It's an ongoing responsibility that deserves the same periodic attention as any other part of your financial plan.

Life Insurance Isn't 'Set It and Forget It'

A policy purchased during a first duty assignment, shortly after buying a home, or right after starting a family may no longer reflect where you are today. The term length, coverage amount, and even the type of policy that made sense in your 20s or 30s may not serve you as well later in your career. Some officers discover their term policy is set to expire just as they need it most, while others find they're still paying for more coverage than their current situation requires.

A periodic check-in helps make sure your policy still reflects your goals today, not decisions made years ago. A no-obligation consultation with a licensed agent is a simple way to find out where you stand — at no cost and with no pressure to buy. If it's been a while since you've reviewed your coverage, we can help you reassess your needs, better understand the protection you already have, and identify any areas you may want to consider. Call 1-800-247-2192 to speak with a licensed agent.

Moments That Call for a Second Look

Consider reviewing your coverage when you experience any of the following:

* A marriage, divorce, or the birth or adoption of a child

* A promotion, pay increase, or transition to a new career after service

* A permanent change of station or move to a new state

* Paying off a mortgage or taking on a new one

* Approaching retirement and the shift to a fixed income

* Taking on new responsibilities, such as supporting aging parents

Any of these can effect how much coverage you need — and what type makes sense.

Coverage Options Built for Every Stage

MOAA Insurance Coverages are designed with the needs of current and former officers and their families in mind, offering flexibility as your circumstances change:

* Youth Group Term Life Insurance: Coverage for children and grandchildren ages 15 days to 25 years, with benefit amounts up to $10,000.

* Transition Life Insurance: Guaranteed-acceptance coverage for officers separating from active service, designed to help replace SGLI benefits, with coverage also available for spouses.

* Leader Group Term Life Insurance: Up to $500,000 in coverage, available around the clock, with no exam required for many applicants, plus living and disability benefits.

* Group Level Term Life Insurance: Predictable premiums and coverage amounts that stay level for your choice of a 10-, 15-, or 20-year term.

* Joint Group Term Life Insurance: A two-in-one coverage that covers you and your spouse for one benefit amount, paid when the first spouse passes away.

* Guaranteed Whole Life Insurance: Up to $25,000 in guaranteed permanent coverage for those ages 45–85, with no medical exam required.

These coverages are available exclusively to MOAA members and their spouses, and are available as your needs change over the years.

Make Reassessment Part of Your Routine – Get a Consultation Today

Just as you'd review your finances or benefits annually, take a few minutes this September to ask: Does my current coverage still reflect my life today? Whether you need to increase coverage, add a policy, or simply confirm your beneficiaries are up to date, Life Insurance Awareness Month is the perfect reminder to act.

To learn more, explore coverage options at MOAA Life Insurance Plans or call 1-800-247-2192 for a no-obligation consultation with a licensed agent. They can help you review your current needs, answer your questions and better understand your coverage options — at no cost and with no pressure to purchase additional coverage.

Underwritten by New York Life Insurance Company, 51 Madison Ave., New York, NY 10010, under Group Policy No. G-31245-0 on Policy Form GMR-FACE/G-31245-0; No. G-31240-0 on Policy Form GMR-FACE/G-31240-0; No. G-31241-0 (10-year) on Policy Form GMR-FACE/G-31241-0; No. G-31242-0 (15-year) on Policy Form GMR-FACE/G-31242-0; No. G-31243-0 (20-year) on Policy Form GMR-FACE/G-31243-0; and No. G-31244-0 on Policy Form G-31244-0/GMR-FACE.

Guaranteed Whole Life Insurance is underwritten by United of Omaha Life Insurance Company, Mutual of Omaha Plaza, Omaha, NE 68175, which is licensed nationwide except for New York and does not solicit business in NY. In New York, Companion Life Insurance Company, Melville, NY 11747 underwrites life insurance and annuities. Each underwriting company is responsible for its own financial and contractual obligations along with any and all administrative and claims paying decisions. Policy form ICC18L198P (D787LFL19P in FL, 1002Y_0119 in NY) or state equivalent. Not available in Montana. Coverage may vary by state.

NEW YORK LIFE and the NEW YORK LIFE Box Logo are trademarks of New York Life Insurance Company

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