Navy Mutual Life Insurance Review

In addition to your age and health status, your premium is based on your lifestyle and activities as well as the length of time and the quantity of coverage you acquire. Navy Mutual, unlike the majority of insurers, will not increase your premium because of your profession. Check out Navy Mutual Life Insurance Review to know more about the company.

What affects my rate with Navy Mutual?

Navy Mutual Life Insurance Review - Navy Mutual Life Insurance Logo

It takes the following factors into account while making its underwriting decisions:

  • Tobacco use. To get the best rate, you’ll need to show that you haven’t smoked in the last five years.
  • Age. Applicants who are young, healthy, and in good health are eligible for lower rates.
  • Gender. In general, women pay less for insurance since they live longer.
  • Reputation as a driver. Getting a lower rate is more possible if your driving record is clean and clear of severe traffic offenses and DUIs.
  • History of criminal behavior. Individuals with a criminal record may have a more difficult time obtaining health insurance.
  • Health.
  • Dangerous pastimes to engage in. In spite of the fact that Navy Mutual does not impose any limits on military duty, aviation, or travel, it does take into account your personal lifestyle. Insurers may charge you a higher premium if you engage in high-risk hobbies like deep diving or racing car driving.
  • Drugs and alcohol are intertwined. Those with a recent history of alcohol or drug misuse are ineligible for coverage under Navy Mutual.

How to get a quote from Navy Mutual life insurance

Click the Go To Site button below to get started in four easy steps:

  1. Please include a way for us to get in touch with you.
  2. Select who you want to cover, when you were born, and whether or not you smoke.
  3. Decide on the type of life insurance policy you want, the amount of coverage you want, and how long you want it for.
  4. After you’ve checked everything is correct, click the Submit button.

To sign up with a representative, call Navy Mutual at 800-628-6011.

You have the option of choosing between term and whole life insurance as a policyholder. These are the choices available.

Term life

  • Flex Term. This is the cheapest insurance from Navy Mutual, with flat prices regardless of how much coverage you select. Up to 50 years old, Flex Term ensures your coverage and premium, or 40 if you smoke. Up to two years before the end of your term, you can switch to a whole life policy using the
  • Guaranteed Convertibility Feature. If your current insurance expires, you have the option of purchasing a new one or letting your current one lapse. It doesn’t matter if you’re leaving the service or retiring, you’re still covered under this policy. If you have a loved one, you may choose between death benefits of $50,000 and $1,000,000, plus an expedited death benefit or kid rider.
    With the help of Term Plus, you can get things done quickly. A medical checkup isn’t necessary for this coverage because it’s simple. It’s a 10-year insurance with a set monthly cost and a $250,000 death benefit for individuals who need coverage right away, such as military members preparing for deployment. You must be between the ages of 18 and 55 to be eligible to apply. There are no military limits on this plan, and you may keep it once you leave the service. Adding an expedited death benefit rider is the only way to make it your own.
  • This is a plus version of Level II. This level-coverage term life insurance policy is available to persons 45 to 85 years old and has consistent rates. Five years of coverage is required; after that, you can add on for an additional year at a time. Coverage begins at $50,000 and increases by $10,000 for $100,000 of coverage until it reaches $1 million. Depending on your health, there are three different price ranges:
    • Standard. For those with average health.
    • Select. For those who have a 30-year or shorter payment plan and are in better health than the norm.
    • Super-Select. Those in better health who have a 30-year or shorter payment plan. Qualifying requirements include not smoking, living a high-risk lifestyle, and a strong health history in your family.

You may add riders to this policy and turn it into a whole-life insurance policy without having to undergo any medical exams. Your beneficiaries will get a death benefit if you die within the term.

Whole life

  • Flagship Whole Life. The sole long-term coverage offered by Navy Mutual is to people aged 18 to 80. It has a set premium and covers you for the rest of your life. The policy’s cash worth increases over time, and policyholders might earn dividends based on the company’s success. You can borrow against your policy’s cash value if you’ve accumulated enough to cover expenses like college tuition or a down payment on a house. 75 percent of the available monetary value is the maximum. The minimum coverage is $10,000, while the maximum coverage is $1 million. You have the option of choosing between the accumulated death benefit and the paid up additions rider, which is explained below. You can acquire a Flagship Whole Life insurance in your children’s name until they are 26 if you have children. You will leave a death benefit and a cash value benefit to your beneficiaries when you pass away.

What is the Guaranteed Convertibility Feature?

Those who have Navy Mutual’s Flex Term coverage can upgrade to the Flagship Whole Life policy without having to undergo a medical checkup if they do so before the age of 48 — or 38 if they use nicotine. Your new premium is determined by your current age and the insurer’s current standard rate.

What riders can I add to my policy?

The plans offered by Navy Mutual are rather basic, however the following riders let you to further tailor and enhance your coverage:

  • Accelerated death benefit rider. Chronic or terminal illnesses allow you to obtain a lump sum death benefit in lieu of monthly payments. If you’re eligible, you must have had health insurance for at least five years prior to being diagnosed to be eligible for this benefit.
  • Child rider. You may get insurance for your children from the age of six months to 26 years for just $2.50 a month. Each eligible kid has a $10,000 level death benefit, and you can upgrade the coverage to Flagship Whole Life before the child reaches the age of 24.
  • Rider for the conversion process. Your term life insurance policy can be converted to a whole life insurance policy up to age 70, or five years before it expires.
  • Rider that ensures you’ll be insured no matter what happens. Purchasing supplementary insurance without undergoing a medical checkup is possible on certain occasions.

Reviews and complaints

As a non-accredited business, Navy Mutual has obtained an A+ rating for its operations and customer satisfaction from the Better Business Bureau. After three complaints were filed with BBB in the previous three years, the insurance resolved them all.

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 customers are pleased because the insurer customizes coverage for military personnel and removes exclusions for conflict and travel. According to some clients, the advertised price and the final price might differ significantly.

For another life insurance review, visit our review of Nationwide Life Insurance Review.

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Levi Jorgensen
Levi Jorgensen is a life-long explorer. When he's not writing about life insurance, he works as an appraiser of antiques. He's based in Columbus, Ohio with his wife and 2 children.
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