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Navy Mutual Life Insurance

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Navy Mutual Life Insurance

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Highlights
Financial Strength Rating A+

Navy Mutual Life Insurance Review

Navy Mutual Life Insurance is an insurance carrier based in Arlington, VA. The company was founded in 1879 and offers life insurance in 50 states (and Washington, DC). Life insurance is important for anyone who has loved who depend on them financially. It can also help with final expenses and burial costs.

Navy Mutual Life Insurance FAQ

What types of life insurance coverage does Navy Mutual Life Insurance offer?

Insurance carriers typically offer a wide variety of policies. One of the best ways to save money on life insurance is to avoid unnecessary coverage. Only apply for policies and riders you actually need.

Here is a brief description of the coverage Navy Mutual Life Insurance offers.

  • Term Life Insurance - This is the simplest type of life insurance. It is payable if the insured person dies within a specific period of time. Navy Mutual Life Insurance offers term lengths ranging from 1 to 30 years. Death benefit amounts range from $50,000 to $1,000,000.
  • Level Term Insurance - These are term policies that have the same fixed premium and payment amount throughout the life of the policy.
  • Decreasing Term Insurance- This type of term insurance has fixed premiums but the death benefit decreases over the life of the policy.
  • Annual Renewable Term Insurance - Annual renewable term policies provide a constant death benefit for the duration of the policy but the premium's are reassessed every year.
  • Whole Life Insurance - Whole life insurance policies remain in force for the entire life of the policyholder provided premiums are paid. Whole life benefit payments range from $10,000 to $1,000,000.
  • Variable Life Insurance - Variable life insurance is a permanent life insurance policy where the entire cash value of the policy is invested in several accounts. Therefore, the value of the policy rises and falls depending on the performance of the investments.

As well as the basic coverage types mentioned above, Navy Mutual Life Insurance also offers the following policies:

  • Group Life Insurance - Navy Mutual Life Insurance offers some of its policies as a group benefit to employees who meet certain eligibility requirements, such as having worked for a month in the company. Typically, these policies can only be adjusted or purchased after a qualifying life event, such as marriage or the birth of a child, or during an open enrollment period.
  • Guaranteed Issue Life Insurance - These policies offer a cash death benefit to the beneficiary. All coverage applications are approved regardless of health concerns. The catch is these policies usually have lower death benefits and higher than normal premiums.
  • Survivorship Life Insurance - This type of policy covers two individuals and pays a death benefit to a beneficiary after both have died.
  • Final Expenses - Even bare-bones funerals can cost thousands of dollars. This policy, also known as burial insurance, covers funeral and burial costs.

How can you save money on a Navy Mutual Life Insurance life insurance policy?

When you ask for a quote with Navy Mutual Life Insurance, ask what policy discounts are available.

These include:

What is the financial strength rating of Navy Mutual Life Insurance?

The financial strength rating of a life insurance company scores its ability to pay contracts and policies.

Each agency has its own standards and rating scale and a company's rating can change any day. It's a good idea to check the financial rating of an insurance company before you purchase a policy.

There are five main rating agencies. SuperMoney's financial strength rating is based, among other factors, on the average score from available ratings.

Navy Mutual Life Insurance scores an A+, SuperMoney's highest available rating.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   Henderson Hall 29 Carpenter Road
    Arlington, VA 22212 USA
  •   Visit Site

About Navy Mutual Life Insurance

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Financial Strength Rating A+
Policy Discounts
  • Retired
  • Senior
  • Military
  • Good Credit
  • Full Payment
Life Insurance Features
  • Online Quotes
  • No Medical Exam Policies
  • High Risk Applicants Accepted
  • Five-Year Policies Available
  • Cash Value Loans
Term Length 1 - 30
Term Life Death Benefit Range $50,000 - $1,000,000
Term Options
  • Term Life
  • Level Term
  • Decreasing Term
  • Annual Renewable
Whole / Permanent Life Options
  • Whole Life (Traditional)
  • Variable Life
Whole Life Death Benefit Range $10,000 - $1,000,000
Group Life Options
  • Group Basic Term Life Benefit
  • Group Supplemental Term Life Benefit
  • Group Whole Life Benefit
  • Group Basic Coverage Guaranteed
Life Insurance Riders
  • Waiver of Premium Due to Illness / Disability
  • Additional Term Rider
  • Accelerated Death Benefit (Critical or Chronic Illnesses)
  • Accelerated Death Benefit (Terminal Illnesses)
  • Term Conversion
  • Long-Term Care
  • Spouse Insurance
  • Accidental Death or Dismemberment / Double Indemnity
  • Child Term Rider

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SUPERMONEY NET RECOMMENDATION SCORE

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Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.