ROA Senior Term Life Insurance

2025 Monthly* Group Rates

Attained Age- Member & Spouse	$10,000		$25,000		$50,000
	Male	Female	Male	Female	Male	Female
45-49**	$6.70	$4.60	$16.75	$11.50	$33.50	$23.00
50-54	$9.20	$5.20	$23.00	$13.00	$46.00	$26.00
55-59	$13.80	$7.90	$34.50	$19.75	$69.00	$39.50
60-64	$20.00	$13.20	$50.00	$33.00	$100.00	$66.00
65-69	$30.90	$22.30	$77.25	$55.75	$154.50	$111.50
70-74	$43.10	$33.80	$107.75	$84.50	$215.50	$169.00

 

*You will be billed four times a year. If applicable, an additional $2.00 billing fee will be included on your billing notice payable to the administrator. To save the fee, select Electronic Funds Transfer (EFT) as a safe and secure payment option.

 

**ROA Members can apply for coverage starting at age 50 (through age 74). Spouses can apply for coverage starting at age 45 (through age 74). A Spouse can obtain coverage without the ROA Member having coverage.

 

Coverage begins on the first day of the month following approval by the Insurer and payment of first premium. Coverage continues with no decrease in benefits until you reach age 75. At age 75, benefits reduce to 50%. At age 80, benefits reduce to 25% of original face value.

 

***At age 85 and after, benefits will be $2,500. Coverage cannot be canceled as long as you remain a Member of ROA, pay your premiums when due and the group contract remains in effect.

 

Who is Eligible?

ROA members between ages 50-74 are eligible to apply for coverage for themselves and their lawful spouses age 45-74. In order to become insured, satisfactory evidence of insurability must be provided and the required premium must be paid. If both member and spouse are covered as members, neither may insure the other as spouse.

 

This coverage is available only for residents of the United States (excluding FL, KY, LA, ME, MT, NY, NC, OR, TX, UT, VT, WA and territories).

 

Effective Date

Note: You and your spouse will become insured on the date specified by New York Life Insurance Company provided the initial premium contribution received within 31 days after you are billed, satisfactory evidence of insurability has been submitted, and you and your spouse are performing the normal activities of a person in good health of like age. For any proposed insured who is not performing such normal activities on the date insurance would otherwise have taken effect, insurance will not take effect until the day he/she is performing such normal activities, provided such date is within three months of the date insurance would otherwise have taken effect and the person is still eligible. Spouse coverage will not take effect prior to member 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.

 

When Coverage Ends

Insurance for you/your spouse can remain in force as long as you remain eligible provided:

a) you continue to pay premium contributions when due; b) you remain a member of ROA; 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. The Accelerated Life Benefit will end the date your Life Insurance stops.

 

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, to the surviving relatives in the following order of survival: spouse; children equally; parents equally; or brothers and sisters equally.

 

Incontestability

The validity of any amount of your insurance that has been in force for two years during your lifetime will not be contested except for insurance eligibility provisions or nonpayment of premium contributions.

 

Group Conversion Privilege

This policy provides conversion privileges under certain circumstances of involuntary termination as described in the Certificate of Insurance.

 

Renewal Payments and Claims

Once your application is approved, you will have a 31-day grace period for your payment of renewal premium contribution. When you want to submit a claim, call the Administrator at 1-800-247-7988 or email [email protected] for claim forms.

 

Certificate Of Insurance

When you become insured, you will be sent a Certificate of Insurance summarizing your coverage. This web page contains only a brief description of some of the Policy's principal provisions and features. The complete terms and conditions including features, costs, eligibility, renewability, limitations and exclusions are set forth in the group policy issued by New York Life Insurance Company to the Reserve Officers Association Insurance Trust d/b/a Reserve Organization of America.

Yes, a Spouse/Domestic Partner can obtain separate coverage. The ROA Member does not have to have coverage in order for the Spouse/Domestic Partner to have coverage.

No! Fill out the Simplified Application Form to apply for up to $50,000 in coverage without submitting to a full medical exam or providing blood work.

The application process depends on many factors: the number of persons to be insured, their ages, gender and the amount of coverage for which you apply, your medical history and that of your spouse (if requesting spouse coverage).

AMBA is the company contracted to manage the Group Insurance Program. AMBA is not affiliated with the insurance companies that underwrite each plan.

New York Life has received the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch Ratings (AAA), Standard & Poor’s (AA+) and Moody’s Investors Service (Aaa). Source: Third Party Rating Reports (as of 10/4/24).

 

AMBA makes no representations or warranties, expressed or implied, concerning the financial condition or solvency of any insurers. A.M. Best’s Ratings are under continuous review and subject to change and/or affirmation. For the latest Best’s Ratings and Best’s Company Reports (which include Best’s Ratings), visit the A.M. Best website at http://www.ambest.com. See Guide to Best’s Ratings for explanation of use and charges. Best’s Ratings reproduced herein appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of AMBA or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best’s Ratings. Best’s Ratings are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.