Your Term Insurance Will End Soon.
As your Term Life insurance concludes, you have options.
Apply for a new term:
If you are healthy and live in New York or Utah, we encourage you to apply for another 10-year term, especially if there are others who rely on you.
If you do not wish to continue coverage, please let us know. Otherwise when your term insurance ends, you will automatically move to the Extended Period. You are guaranteed the right to continue this term coverage until age 75, regardless of your health, but your rates will be significantly higher and will increase annually. You can view the Extended Period premium schedule here. If you decide to remain in the Extended Period, you may want to consider reducing your coverage.
If you would like to discuss reducing your existing coverage, please contact us to schedule an appointment.
If you do not wish to continue your insurance please contact us as soon as possible to let us know.
Frequently Asked Questions
What happens if I do nothing?
If you do nothing, you will automatically be moved to the Extended Period. Your coverage can continue to age 75.
What are the Premiums during the Extended Period?
Your premium is first determined by your sex and age when you enter the Extended Period, and then it increases annually. These premiums are higher, sometimes notably so, than if you were insured for another 10-year period, but the mere availability of Extended-Period coverage can provide desirable protection, as it is available even if you have become uninsurable.
I’m not sure if I am healthy enough to be approved for another term. What if I am declined?
We encourage you to re-apply. If you do not qualify for a new 10-year Period, you can automatically move to the Extended Period, regardless of your health, and can remain insured until age 75.
What are other options are available through this program?
If Life for Life no longer meets your needs, we offer other options:
- Core Life. Annually renewable group life insurance that you can continue to age 90.*
- Additional term and whole life insurance options. Our Advisors are available to help you secure other coverage through this program, which may or may not require medical underwriting to qualify. Schedule an appointment with an advisor to discuss your options.
*Core Life is not available in the following states: AK, SD, VT, WA, OR.
What if I still need more guidance regarding my options?
We’re here to help! We’re here to assist with your planning and with the purchase of specific products. We encourage you to schedule an appointment to discuss your options.
Forms
Apply for Life for Life
You must be resident of NY or UT to apply. Residents of other states, click here for options.
Resources
Questions?
If you need a quote or an application or simply have questions, call 973-635-7806, or email info@meyerandassoc.com. Trained customer service representatives will be happy to provide the information you need. And naturally you’ll be under no obligation.
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