ADA Term Life vs. ADA Level Term Life Insurance
Which one is right for you?
As an ADA member, you have access to two life insurance plans: ADA Term Life and Level
Term Life, issued by Great-West Financial®. The main difference between the two:
- The ADA Term Life Insurance Plan starts out with a low rate that gradually increases annually with age. You also have the
flexibility of changing your coverage levels to meet your changing needs throughout life.
- The ADA Level Term Life Insurance Plan offers the predictability of a fixed premium that lasts for a specified term of
either 10 or 20 years.
To help you decide which insurance plan is the best fit for you and your family, take a moment to review this quick side-by-side
comparison of the insurance plans. You can contact your Insurance Plan Specialist anytime at 866.607.5336 or
for more information or a free rate quote.
See the terms and conditions of the policy for details.
What You’ll Pay: ADA Term Life vs. ADA Level Term Life
Cost comparison for $1 million of coverage over a 10-year period
The charts below compare the total costs for ADA Term Life and Level Term Life over a 10-year period at different ages to help you decide which insurance plan best fits your budget.
Your rate class will be determined through medical underwriting.
1Preferred rates are available to the healthiest individuals who have low-risk health and lifestyle characteristics. Your eligibility will be
determined through medical underwriting. You must be a non-smoker and have low blood pressure (without medication) and low cholesterol, plus meet all
other health-related underwriting criteria. You must also have low-risk lifestyle characteristics that include non-hazardous avocations and travel, and a
good driving record.
Annual premium comparisons are projected for a 10-year term, rounded to the nearest dollar, and based on current age. Annually
Renewable Term Life premiums increase annually based on age, are effective as of 01/01/2020 and include a 46% Premium Credit
discount that shares favorable financial results with Plan participants. The Premium Credit discount is not guaranteed, but
reevaluated periodically. Level Term premiums are fixed based on the selected duration of 10 or 20 years. Must maintain ADA
Membership throughout selected Term. Eligible ADA members under age 60 are also eligible to apply for a 20-year term under the
Level Term Insurance Plan. The comparisons above are shown for a 10-year term for illustrative purposes. If the applicant does
not qualify for Standard or Preferred rates, it may be possible to qualify for one of the two additional substandard rate classes.