Enhanced individual AOPA term life policies feature low rates, guaranteed level premiums

New AOPA Certified individual term life insurance products have added a 20-year guaranteed level premium rate policy and a new 10-year term policy that reduces premiums by an average of 20 percent.

"Term life insurance products have changed significantly in the past few years," observed Karen Detert, AOPA senior vice president for products and services. "All companies advertise their very best rates, but often you're deep into the application process before you find out that your true premium will be higher. Minnesota Life provides all the information and rates up front so you can make an informed decision.

"It's due to AOPA's efforts on behalf of our members that most pilots pay no surcharge on this AOPA Certified product," Detert added. "In fact, this year marks the fiftieth anniversary of the AOPA and Minnesota Life partnership and our introduction of the first group life insurance program for pilots without a discriminatory premium."

The new longer term insurance policy offered by Minnesota Life features level premium rates that are guaranteed for a full 20 years. A remodeled shorter term policy retains the usual 10-year premium rate guarantee but reduces premium rates an average of 20 percent over previous rates.

Both new policies are available with coverage from $250,000 to $10 million, with rate discounts starting at face values of $250,000 and $1 million. As is true of individual term life policies, they are personalized to meet specific individual needs, including favorable treatment of aviation activities. Both also offer competitive premium rates and may be converted to permanent, cash value life insurance.

For AOPA members with different financial planning needs, Minnesota Life also offers an AOPA Group Term Life Insurance Program with term life coverage from $10,000 to $500,000. Like the individual term life program, it is designed for pilots with a current medical certificate and covers most types of flying, with no aviation surcharge.

"Most AOPA members will qualify for the very competitive preferred or standard rates," said Detert. "These enhanced policies make the AOPA Individual Term Life Insurance Program among the best term life insurance programs in the country."

Minnesota Life has been an AOPA partner for more than 50 years and ranks among the most highly rated insurers in the country. Rated A++ for financial condition by A.M. Best, Minnesota Life provides more than $240 billion in life insurance protection and manages more than $20 billion in assets.

Term life insurance policies for AOPA members underwritten by Minnesota Life are an AOPA Certified service, returning a small portion of the premiums to AOPA, helping keep general aviation strong and member dues low.

AOPA was founded in 1939 to help keep general aviation flying fun, safe, and as affordable as possible. Today, AOPA represents more than 365,000 pilots, who own or fly three quarters of the nation's 206,000 general aviation aircraft.

01-1-072