Life Insurance for Teachers

Life insurance for teachers comes in many shapes and sizes. Most teachers are offered life insurance coverage through their jobs, but this may not be enough coverage for them. Many teachers choose to supplement their employer-based life insurance with additional policies.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent Benji Carr

UPDATED: Apr 21, 2022

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Quick Facts

  • Teachers can get exceptional deals on life insurance policies through the National Education Association (NEA).
  • Many teachers are offered life insurance through their employers at little to no cost to them if their school is enrolled in a group life insurance plan.
  • Group life insurance plans may not be enough for teachers, and they may want to look into getting a supplemental life insurance plan.
  • Some insurance companies even offer teacher discounts, but this varies from company to company.

Life insurance for teachers can be very affordable. It is one of the few professions where life insurance is typically offered by employers as a benefit at little to no cost to teachers.

Teachers also have the option to get teacher life insurance through their NEA membership, which will help save them money on their life insurance policies.

Furthermore, some life insurance companies offer discounts to educators, but there is no uniformity across the industry. Each potential discount is unique to the insurance company.

Teachers have a lot of options to sift through when it comes to choosing term vs permanent life insurance coverage. We’ll take a look at the options teachers can choose from and highlight the ways they can save money on their life insurance policies.

What is NEA life insurance for teachers?

Teachers can get great life insurance policies through their NEA membership. There are eight different life insurance programs members can choose from. These plans are underwritten by Prudential Insurance Company of America.

Term life insurance for teachers is very affordable when purchased through the NEA. The NEA helps group policyholders together to lower rates for everyone significantly. In some cases, you won’t have to take a medical exam, and NEA life insurance is not tied to one school or job. It moves with you.

Life insurance for retired teachers can also be found through the NEA.

There are a lot of great plans offered through the NEA. If you’re a member, you should look into the specifics and choose a life insurance plan that works best for you. The NEA does not offer universal life insurance for teachers.

What is group life insurance policies and employer-offered coverage?

Employer-provided life insurance coverage will be group coverage. This means there will be little to no cost to you for life insurance coverage through your job. The other major plus is these benefits are extended to all employees.

If you are elderly, have pre-existing conditions, or there are other factors that can make getting life insurance coverage expensive or difficult, these employer-offered group life insurance plans can be a great way to get coverage.

There are some life insurance mistakes educators should avoid. Mainly, relying solely on their employee-offered life insurance for school employees.

The issues some teachers have with these employer-offered life insurance plans are the policy limits, the fact that it is job dependent, and that it doesn’t cover spouses or children. This leads many teachers to supplement their employer-offered life insurance plans.

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What about whole life insurance for teachers?

Some teachers choose to get whole life insurance coverage in addition to the group or term life insurance plans offered by their employers or the NEA. Whole life insurance covers you for the rest of your life. Group plans only cover you while you are at your job or for the length of the term chosen.

Whole life insurance also builds cash value over time. What the insurance company does with your premiums is put them into a high-interest bank account or an investment account. Whole life insurance policies not only insure your life, but they also act as savings accounts.

This table helps present the differences between term and whole life insurance policies.

Comparison of Whole and Term Life Insurance
Policy FeatureTerm Life Whole Life
CoverageSet period of time, usually 10, 20, or 30 yearsValid until the date of the insured’s death
ExpenseLess expensive monthly premiumMore expensive monthly premium
Investment/RatesYou pay only for insurance, these policies don’t accumulate any cash value over time.Along with the death benefit, part of your payments are invested and the value accumulates over the years. Can be borrowed against and paid back at lower rate than available commercially
RenewabilityWill need to be renewed at the end of each term, and each renewal will reflect your increase in age and any health issues you’ve developed.Lifetime policy, so once in place does not need to be renewed.
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Whole life insurance policies can also be borrowed against should you need additional cash flow. A lot of teachers choose to supplement their employer life insurance plans with whole life insurance and also save for the future.

Life Insurance for Teachers: The Bottom Line

At the end of the day, educators are in a good position when it comes to getting quality life insurance. More often than not your school will offer you some sort of teachers life insurance at very little to no cost to you.

In addition, the NEA offers members great life insurance policies, and the freedom to take their life insurance with them when they leave their jobs.

Ready to buy life insurance for teachers?

Finding the best life and accidental death coverage for teachers does not have to be hard. There are a lot of options for teachers, you just need to do comparison shopping to find the best rates.

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