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Term Life Comparison | ADA-Sponsored Insurance Plans – Insurance for Dentists and Their Practices

Annually Renewable Term or Level Term?

Let Us Help You Choose

Term life insurance is inexpensive, provides no cash value as compared to ADA Term Plus® Universal Life, but can be a financial tool to help you meet your short- and long-term financial goals. ADA-sponsored term life insurance could provide what you need: Annually Renewable Term and Level Term. Both available to all eligible ADA members under age 65.

To help you make the best choice, here’s what you need to know:

What’s the difference between the two plans?

  • A: Annually Renewable Term Life: You’ll start out initially with a low, member-only premium based on your age, which gradually increases every year.
  • B: Level Term Life: You’ll pay a higher premium starting out, but the premium is guaranteed to remain the same over the entire coverage period.
Any other differences?

  • A: Annually Renewable Term Life: There is no preset coverage period. The coverage is renewable every year, at your choosing, until age 81.
  • B: Level Term Life: You’ll choose from a 10-year or 20-year term. When the period ends, the coverage automatically converts to an Annually Renewable Term. Or you can reapply for another 10-year term if you’re under age 65, or a 20-year term if you’re under age 60.
Can you clarify the differences between the two plans?

  • A: Annually Renewable Term Life: This is the least costly option with a premium that slightly increases each year as you age. Renewable Term Life is designed for dentists who don’t know how long they’ll need the coverage.
  • B: Level Term Life: This plan provides a consistent premium and coverage for a specific period of time, such as while you’re paying off student debt or practice loans.
Which plan is best for supplementing existing coverage?

  • A & B: Both plans can work equally well as a supplement to your current coverage.

By the way, both ADA-sponsored term life plans offer spouse and child(ren) coverage too.


Annually Renewable Term: Click to learn more or to apply
Level Term: Click to learn more or to apply
Or choose Term Plus® Universal Life if you want a life insurance plan that builds cash value.

Dentists:This website is not a contract. Benefits provided under respective Group Policy Nos. (104TLP Annually Renewable Term Life, 1105GDH-IPP Disability Income Protection, 1106GDH-OEP Office Overhead Expense Disability, 104GUL Universal Life, 104LTLP Level Term Life, 1117GH-HIP Hospital Indemnity, 1127GH-CIP Critical Illness, and 1107GH-MCP MedCASHSM) issued to the American Dental Association, underwritten by Great-West Financial, and filed in accordance with and governed by Illinois law. The ADA is entitled to receive royalties from the ADA Members Insurance Plans. Coverage is available to all eligible ADA members residing in any U.S. state or territory. Level Term Life premiums are fixed based on the selected duration of 10 or 20 years. Must maintain membership throughout selected term. Annually Renewable Term Life, Hospital Indemnity, Critical Illness, and MedCASH premiums increase annually based on age. Recommended premiums under the Term Plus® Universal Life plan consist of the cost of insurance (which may vary based on the member’s age and coverage amount), the amount chosen by the member for deposit into his/her Policy Value Account and a service charge. Premium deposits may fluctuate or remain level depending upon the amount maintained in the Policy Value Account. Disability Income Protection premiums increase every 5 years and Office Overhead Expense every 10 years based on age. Premium credit for Annually Renewable Term Life and Term Plus Universal Life is not guaranteed but reevaluated annually. Premium credit for Disability Income Protection, Office Overhead Expense, Hospital Indemnity, Critical Illness, and MedCASH is not guaranteed but reevaluated semi-annually. Each Plan participant will receive a Certificate of Insurance explaining the terms and conditions of the policy.


Dental Students: This website is not a contract. Student coverage is issued regardless of your medical condition if you are under 45, but benefits are not payable, as defined by the respective policy, for death or disability resulting from a sickness, disorder, physical condition, or symptom that existed or was treated 12 months prior to enrollment. Benefits are provided under respective Group Policy Nos. (104TLP Annually Renewable Term Life and 1108GDH-SDP Student Disability) filed in the state of Illinois in accordance with and governed by Illinois law, issued to the American Dental Association, and underwritten by Great-West Life & Annuity Insurance Company. If you are 45 or older, you can apply for the no-cost coverage and all student program features by providing proof of good health. Coverage renews automatically each academic year. Each insurance plan participant will receive a Certificate of Insurance explaining the terms and conditions of the respective policy. Individuals may convert coverage to the plans for practicing dentists after graduation according to policy guidelines by paying ADA member premiums and maintaining ADA membership. See legal information above for the ADA-sponsored insurance plans for practicing dentists.


ADA® is a registered trademark of the American Dental Association.


Great-West Financial® refers to products and services provided by Great-West Life & Annuity Insurance Company, Greenwood Village, CO, its subsidiaries and affiliates. The trademarks, logos, service marks, and design elements used are owned by Great-West Life & Annuity Insurance Company. © 2017 Great-West Life & Annuity Insurance Company. All Rights Reserved. For website issues, contact the Webmaster at ADA_WebMaster@greatwest.com.

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