Insurance

Insurance

The following National Guard Insurance Programs are administered by the National Guard Association of Michigan and underwritten by American Equity Investment Life Insurance Company of DesMoines, Iowa  (www.american-equity.com)

Questions:
Brad McGuire
National Guard Association of Michigan
P.O. Box 14095
Lansing, MI  48901
Phone:  (517) 944-1676
Email: mcguire@ngam.org

LIFE INSURANCE BENEFITS:

  • Life Insurance payable in event of death from any cause
  • Coverage is 24 hours a day, 365 days a year
  • No War Clause
  • No Aviation Exclusion
  • No Suicide Clause
  • No Hazardous Duty or Civilian Occupation Restriction
  • Full Conversion privilege upon termination regardless of health

COVERAGE AMOUNTS (Guard Member):

  • $5,000
  • $10,000
  • $15,000
  • $20,000
  • $25,000
  • $30,000
  • $35,000
  • $40,000
  • $45,000
  • $50,000

COVERAGE AMOUNTS (Spouse | Dependents):

Cannot exceed Guard Member’s coverage; see application for more details.

ELIGIBILITY:

Any member, within 90 days after joining the National Guard, may enroll prior to the 91st day after joining, without furnishing evidence of insurability.

After 90 days the member may still apply but the Company reserves the right to accept or reject the application. Members have the option of applying for additional insurance (above $10,000) up to $50,000 by submitting evidence of satisfactory insurability.

POLICY FOR MAKING APPLICATION:

Application for coverage may be made at any time.

BENEFICIARY:

Benefits will be paid to the member’s named beneficiary either in a lump sum payment, annual or monthly installments as directed by the beneficiary.

POLICY TERMINATION:

Coverage terminates the date the policy under which coverage is offered ends or the last day of the month for which premiums have been paid (subject to the grace period). Coverage may be continued after leaving the National Guard until the age of 65.

Coverage elected will remain level until age 60 upon which time the benefits will be reduced by 50% and the premiums will remain the same.

SPECIAL OFFER:  National Guard $10,000 Life Insurance to All Prior Service and New Enlistees

NGAM is proud to offer a benefit of $10,000 Life Insurance for each prior service and new enlistee. This should be completed with 30 days of enlistment. This is offered at NO COST to prior service and new enlistees

Advantages of this program:

  • NGAM pays claims to your beneficiary with 24 hours of notification
  • After the first year, the Guard member may elect to cover spouse and dependents
  • Should Guard member separate from the National Guard, insurance may be kept for the same price