ROA Group Term Life

As a member in good standing in ROA, you can qualify to apply for Group Term Life insurance.

 

The initial cost of insurance for you and your lawful spouse is based on your/your spouse's attained age when insurance becomes effective, the amount selected, and on the member's/spouse's tobacco/nicotine use. The cost increases as the member/spouse grow older. 

 

Premium contributions will vary depending upon the options chosen.

 

2025 MONTHLY GROUP RATES
		Member		Spouse
BENEFIT	AGE	Nontobacco	Tobacco	Nontobacco	Tobacco
$25,000	Under 30	$0.95	$0.95	$0.72	$0.95
	30-34	1.43	1.67	1.19	1.19
	35-39	1.90	2.14	1.67	1.90
	40-44	2.85	3.33	2.38	2.85
	45-49	5.23	5.94	4.28	4.99
	50-54	8.55	9.74	7.13	8.32
	55-59	14.02	16.15	11.88	13.54
	*60-64	20.90	24.23	17.58	20.19
$50,000	Under 30	$1.90	$1.90	$1.43	$1.90
	30-34	2.85	3.33	2.38	2.38
	35-39	3.80	4.28	3.33	3.80
	40-44	5.70	6.65	4.75	5.70
	45-49	10.45	11.88	8.55	9.98
	50-54	17.10	19.48	14.25	16.63
	55-59	28.03	32.30	23.75	27.08
	*60-64	41.80	48.45	35.15	40.38
$100,000	Under 30	$3.80	$3.80	$2.87	$3.80
	30-34	5.70	6.67	4.77	4.77
	35-39	7.60	8.57	6.67	7.60
	40-44	11.40	13.30	9.50	11.40
	45-49	20.90	23.77	17.10	19.97
	50-54	34.20	38.97	28.50	33.27
	55-59	56.07	64.60	47.50	54.17
	*60-64	83.60	96.90	70.30	80.77

 

Other benefit amounts are available. Please call administrator at 1-800-247-7988 for other amounts and rates not listed here.

 

Coverage of $10,000 is available for your children at a monthly rate of $2.00. One premium covers all eligible children ages 14 days but less than 26 years of age.

 

Renewability: Premiums are based on the member's/spouse's age at date of issue, the benefit amount selected, and on the member's/spouse's tobacco/nicotine usage. The cost increases as the member/spouse grow older based on renewal dates as indicated above. Rates will not change unless they are changed for all insureds in your classification.

 

^*Renewal rates only. Members/Spouses age 19-59 can apply for up to $500,000 (in $25,000 increments).  

 

Your amount of insurance will decrease to the lesser of 50% or $50,000 on the Group Policy Anniversary date on or after your 70th birthday.

 

Coverage terminates at age 75.

 

If you choose the optional Accidental Death & Dismemberment (AD&D) benefit, you will receive the same level of coverage as your Term Life Insurance being applied for. The AD&D monthly rate is $0.03 per $1,000.

 

The premium contributions shown reflect the current rates and benefit structure. Premium contributions may be changed by New York Life Insurance Company on any premium due date and any date on which benefits are changed. However, your rates may change only if they are changed for all others in the same class of insurance under this group policy. For example, a class of insureds is a group of people all with the same issue age. Benefit option amounts are not guaranteed and are subject to change by agreement between New York Life Insurance Company and the Trustees of the Reserve Officers Association Insurance Trust d/b/a Reserve Organization of America.

 

If applicable, an additional $2 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.

Who is Eligible?:

ROA members under age 60 are eligible to apply for coverage for themselves, their lawful spouse/Domestic Partner (DP) under age 60, and unmarried dependent children ages 14 days but less than 26 years of age. In order to become insured, satisfactory evidence of insurability must be provided and the required premium contribution must be paid.

 

A dependent who is an ROA member is eligible for either member or dependent coverage, but not both. If both member and spouse / (DP) 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 (excluding FL, KY, LA, ME, MT, NY, NC, OR, TX, UT, VT & WA).

 

Exclusions

Benefits for a covered person's death due to suicide, attempted suicide or intentionally self-inflicted injury during the first 12 months of coverage will be limited to a return of premium contributions.

 

Coverage as long as you need it

The only way you can lose your coverage is if the entire group policy is terminated, you terminate your ROA membership, or you fail to pay your premiums when due. (You can never be singled out and cancelled because of poor health.)

 

Exclusive Killed-in-Action Benefit

Your loved ones will collect up to an extra $25,000 (or your benefit amount, whichever is less) if you’re declared “killed in action” by the Department of Defense in a designated combat zone.

 

Waiver of Life Insurance Premium Disability Benefit

You pay no premiums if you become totally disabled as defined in the Certificate. Your coverage will continue at no cost to you if you become continuously totally disabled for at least nine consecutive months and if your disability occurs before age 60, subject to policy provisions.

 

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.)

 

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/(DP) can obtain separate coverage. The ROA member does not have to have coverage in order for the spouse/(DP) to have coverage.

To learn more about the ROA Group Term Life Insurance, contact AMBA toll-free at 1-800-247-7988, or download an application and brochure.

The underwriting process depends on many factors: the number of persons to be insured, their ages, the amount of coverage for which you apply, your medical history and that of your family members (if requesting dependent coverage), and the type of coverage requested.

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 https://web.ambest.com/home. 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.