Navy Mutual Life Insurance Review

Premiums are determined by a variety of factors, including your age and health, the length of time you have coverage, and the amount of coverage you purchase. Like other insurance companies, Navy Mutual Life Insurance will not raise your rate because of your occupation.

What affects my rate with Navy Mutual?

Navy Mutual Life Insurance Review - Navy Mutual Logo

In order to make its underwriting judgments, it takes into account the following factors:

  • Tobacco use. You’ll need to prove that you haven’t smoked in the last five years in order to receive the best rate.
  • Age. Reduced rates can be obtained by those who apply who are young, healthy, and in good health.
  • Gender. Women pay less for insurance since they live longer than males.
  • Reputation as a driver. If your driving record is clean and free of serious traffic infractions and DUIs, you are more likely to get a reduced rate.
  • History of criminal behavior. Obtaining health insurance may be more challenging for those who have a criminal past.
  • Health.
  • Dangerous pastimes to engage in. There are no restrictions on military service, aviation, or travel that Navy Mutual does not take into consideration. If you indulge in high-risk activities such as deep diving or racing vehicle driving, your insurance premiums may be higher.
  • Drugs and alcohol are intertwined. In order to be covered by Navy Mutual, you must not have a recent history of substance abuse.

How to get a quote from Navy Mutual life insurance

To begin, simply click the Go To Site button below and follow the on-screen instructions:

  1. Please mention a method for us to contact you.
  2. Coverage options include who you’re covering, when you were born and if you smoke.
  3. Plan out your life insurance needs, such as the sort of policy, amount, and term you choose.
  4. Afterwards, use the Submit button to finalize your submission.

Call Navy Mutual at 800-628-6011 to speak with a customer service representative about your options.

As a policyholder, you can select between term and whole life insurance. These are your options.

Term life

  • Flex Term. All of Navy Mutual’s policies are priced the same regardless of how much coverage you choose. If you smoke, Flex Term will cover you up to the age of 50, or 40 if you don’t. Whole life insurance policies can be purchased up to two years prior to the end of your term.
  • Guaranteed Convertibility Feature. In the event that your existing insurance is about to expire, you can either purchase a new policy or let it expire. Regardless of whether you’re retiring or resigning, you’ll still be covered by this insurance coverage. A loved one’s death benefits can range from $50,000 to $1,000,000, with the option of an accelerated death benefit or a rider for children.

You’ll be able to do more in less time with Term Plus’ assistance. This policy does not require a medical examination because it is so straightforward. Ten-year insurance that has a $250,000 death benefit and a fixed monthly premium for those who require coverage immediately, such as military personnel who are about to deploy. There is a minimum age of 18 required to apply. This plan has no restrictions for service members, so you may maintain it even after you leave the military. The only option to personalize it is to add an accelerated death benefit rider.

  • This is a plus version of Level II. This degree of protection Term life insurance policies are accessible to those between the ages of 45 and 85 and have fixed premiums. For the first five years, you must have insurance; after that, you can purchase an additional year of coverage. For $100,000 of coverage, the cost rises by $10,000 each year to $1 million. There are three pricing tiers depending on your health:
    • Standard: For those with average health.
    • Select: A 30-year or shorter payment plan and higher health than the average are both recommended.
    • Super-Select: A 30-year or less payment plan is preferable for those in better health. A healthy family background, no smoking, and no high-risk lifestyle are among the prerequisites for eligibility.
  • This policy can be upgraded to include whole-life insurance riders without the need for a medical exam. If you die within the term, your beneficiaries will get a death benefit.

Whole life

  • Flagship Whole Life. Navy Mutual’s only long-term coverage is for those ages 18 to 80. Lifetime coverage at a predetermined price. When a firm is successful, dividends may be paid out to policyholders, increasing the policy’s cash value. The cash value of your policy can be used as collateral for a loan to help you pay for things like college or a down payment on a property.

The highest amount of money that may be spent is 75%. The minimum and maximum coverage amounts are $10,000 and $1 million, respectively. With the paid-up additions rider, you may choose between an accumulating death benefit and a lump-sum death benefit. In the event you have children, you may purchase Flagship Whole Life insurance in their names until the age of 26. Upon your demise, your loved ones will get a death benefit as well as a cash value benefit from your life insurance policy(ies).

What is the Guaranteed Convertibility Feature?

People with Navy Mutual Flex Term insurance who want to switch to the Flagship Whole Life policy can do so without having to undergo a medical exam if they do so before the age of 48 — or 38 if they smoke. Insurers use your current age and the usual rate to calculate your new premium.

What riders can I add to my policy?

With the following riders, you may customize and improve your Navy Mutual policy even further:

  • Accelerated death benefit rider. A lump sum death benefit can be obtained instead of monthly payments if you have a chronic or terminal disease. This benefit is only available to those who have health insurance for at least five years before being diagnosed.
  • Child rider. A lump sum death benefit can be obtained instead of monthly payments if you have a chronic or terminal disease. This benefit is only available to those who have health insurance for at least five years before being diagnosed.
  • Rider for the conversion process. As long as you’re under the age of 70, you can change your term life insurance policy into a whole life insurance policy before it expires.
  • Rider that ensures you’ll be insured no matter what happens. Supplemental insurance can be purchased without a medical exam in some instances.

Reviews and complaints

The Better Business Bureau has given Navy Mutual, a non-accredited company, an A+ for its operations and client satisfaction (BBB). The insurance company rectified all three complaints that had been made with the BBB in the prior three years.

Despite the fact that Navy Mutual has no reviews on TrustPilot or Feefo, customers have left good comments on personal blogs and military-focused websites like Military.com. Many clients are delighted that the insurance company tailors coverage for military personnel and removes exclusions for combat and travel from their policies. The quoted price may differ from the final price, according to some customers.

To compare other company offerings, check out Lifefy Life Insurance Review.