Yes, premiums are kept lower by limiting the benefit amounts for the first three years. Also, the coverage decreases as you get older when you typically need less life insurance. You won’t be over-insured because you’ll receive the right amount of coverage at each stage in life. For example: If you are age 45 to 59, you can receive $10,000 of decreasing term life insurance for about $8.00 — $9.33 a month. From age 60 to 64, the policy decreases to $7,500, age 65 to 69 to $6,000 and at age 70+, it decreases to $3,000. Please see: NEA Guaranteed Issue Life Plan Rate Chart - $10K (.pdf, 112K) or NEA Guaranteed Issue Life Plan Rate Chart - $20K (.pdf, 96K)