Frequently Asked Questions about Whole Life & Conversions
What is Whole Life?
Whole Life coverage means just that- coverage you elect continues until Age 121. You may apply for an individual policy up to Age 75.
Who is eligible for a Whole Life Conversion?
1. Any Guard Member or Spouse with a current SSLI policy may convert their coverage before Age 65.
2. Children covered under a parent’s “Child Rider” may convert up to five times their rider value at Age 25.
Who is eligible for an Individual Whole Life Policy?
1. Active, Veteran, or Retired Guard Members, up to Age 75.
2. Spouses of Active, Veteran, or Retired Guard Members, up to Age 75.
3. Dependents Age 21+ of Active, Veteran, or Retired Guard Members, up to Age 75.
4. Children Age 15 days- 18 may be added to the parent’s policy as a “Child Rider” for $6.50/month.
Will I need to answer Health Questions?
1. SSLI policies convert with Guaranteed Insurability-no health questions required.
2. New Whole Life policy applications have six (6) health questions that must be answered to obtain coverage.
How much are the Whole Life and Conversion Policies?
Policy premiums are determined by age at the time of signature and coverage amount. Premiums are level-they do not increase as age increases. Contact Katie for a quote.
What are Payment Options?
Policy premiums are paid by monthly Bank Draft.
Does Whole Life build “Cash Value”?
Yes! Loans may be taken out against the policy’s accrued cash value. See your policy for a maturity schedule.
How can I apply for coverage?
1. Fill out and sign an application for each individual to be covered.
2. Fill out and sign a Bank Draft Form.
3. Attach a voided check to the Bank Draft Form.
4. Include a check for the first month’s premium with your application(s).
5. Mail all documents to Katie at NGATN.
How can I update my beneficiary or contact information?
Complete and sign a Policy Service Form and return to us via email, fax or mail. Contact Katie Lawrence, Insurance Coordinator at Katie@ngatn.org or (615) 833-9100.
What if I have still have questions?
Contact Katie Lawrence, Insurance Coordinator at Katie@ngatn.org or (615) 833-9100.
CWL Monthly Rates by age (if you currently have Group Life Insurance and want to convert)
Conversion Application (if you already have our Group Life Insurance)
WL 2014 App A-5000 fillable (wanting to be a new member)