Term Essential Life Insurance

Cover Your Essentials—No Matter How High You Climb

You've worked hard to get where you are, but how certain are you that your success is fully protected?

Time and time again you’ve witnessed the tragic unpredictability of life. If that unpredictability ever reaches you, will your family have to downgrade their standard of living? Will loans, mortgages, college education costs, debts, and other bills leave your loved ones with a financial safety net large enough to keep their lifestyle intact?

Our new Term Essential Life Insurance will put those worries under the knife and remove them for good.

Benefits include:

  • Coverage payouts ranging from $1,000,000 to $4,000,000
  • Level-premium periods of 10, 20, or 30-years
  • Premium rates guaranteed to not increase during level-premium period
  • Conversion options
  • Non-tobacco user rates
  • Additional options available for:
    • Living Needs Benefit
    • Waiver of Premium
    • Accidental Death Benefit
    • Children’s Protection Rider

With Term Essential coverage, you can truly enjoy your well-earned success—knowing it will always be protected.

Frequently Asked Questions

Why Purchase Term Essential Life Insurance Through the AAOS?

With AAOS Term Essential Life Insurance, you’ll have access to the following benefits:

  • Up to $4,000,000 of payout coverage
  • Affordable, highly competitive rates
  • Portable coverage, allowing you to keep your plan throughout your career
  • Living Needs Benefit, enabling you to apply for a portion of your benefits before death if you qualify as being terminally ill (subject to certain policy restrictions and limitations). These benefits are paid directly to you, with no strings attached—you can spend them however you wish.

How Much Coverage Can I Apply For?

If you’re an AAOS member, under age 75 (or under age 70 in the state of Washington), and a resident of the United States, you’re eligible to apply for $1,000,000 to $4,000,000 (in increments of $500,000) of AAOS Term Essential Life Insurance.

What Are Some of the AAOS Term Essential Life Insurance Benefits?

Living Needs Benefit*

The Living Needs Benefit was crafted to allow the terminally ill insured and their family to make the most out of the insured’s remaining time. If selected, this option will grant the insured one advance payment of their in force life insurance, to be paid while that person is still alive. To qualify, the insured must be diagnosed as having a life expectancy of 24 months or less, as well as any other necessary medical information requested. For additional details and limitations, please see the Certificate of Insurance.

*The Living Needs Benefit is an accelerated death benefit and is not a health, nursing home, or long-term care insurance benefit and is not designed to eliminate the need for insurance of these types. There is no charge for this rider but, when a claim is paid under this rider, the death benefit is reduced for early payment, and a $150 processing fee ($100 in Florida) is deducted. If more than one policy is used for the claim, each policy will have a processing fee of up to $150 deducted ($100 in Florida). Portions of the Living Needs Benefit payment may be taxable, and receiving an accelerated death benefit may affect eligibility for public assistance programs. The federal income tax treatment of payments made under this rider depends upon whether the insured is the recipient of the benefit and is considered “terminally ill” or “chronically ill.” We suggest that clients seek assistance from a personal tax advisor regarding the implications of receiving Living Needs Benefit payments. This rider is not available in Minnesota to new purchasers over age 65 until the policy has been in force for one year, and the nursing home option is not available in Connecticut, Florida, Massachusetts, New York, or the District of Columbia. This rider is not available in Washington state. In Oregon, term policies must include the waiver of premium benefit to be eligible for this rider.

Accidental Death Benefit

The Accidental Death Benefit option grants an extra amount paid, in addition to the standard payable benefit, if the insured dies of unnatural causes.

How Do I Apply?

Before requesting coverage, you must be a member of good standing with AAOS. To apply, please download and complete the AAOS Term Essential application. You may fax your signed and completed application toll-free to 1.866.817.9009, or send it via mail to:

AAOS Member Insurance Program
1200 East Glen Avenue
Peoria Heights, IL 61616-5348