What Is NAR Life Insurance?
"NAR life insurance" generally refers to the group life insurance products available to members of the National Association of Realtors® (NAR). The association partners with insurers to offer term and whole life policies at preferential rates, often as part of member benefits or through optional supplemental plans. Because these are group plans tied to membership, eligibility, coverage limits, and premiums differ from individual policies you would buy on the open market.
- What Is NAR Life Insurance?
- Types of Coverage Available Through NAR
- Group Term Life Insurance
- Supplemental and Voluntary Life Insurance
- Whole Life and Permanent Options
- Who Qualifies for NAR Life Insurance?
- How NAR Life Insurance Compares to Individual Policies
- How to Enroll and File a Claim
- Things to Watch Out For
- Is NAR Life Insurance Worth It?
More from this site
Keep reading the latest coverage
The exact products available can shift as NAR updates its benefit partnerships, so members should verify current offerings through the NAR website or their state and local association before enrolling.
Types of Coverage Available Through NAR
Group Term Life Insurance
Group term life is the most common benefit offered through professional associations. NAR-affiliated plans typically provide a base death benefit, often expressed as a multiple of salary or a fixed dollar amount, with the option to purchase additional coverage. Premiums are usually deducted from member dues or paid directly, and the coverage is generally convertible to an individual policy if membership ends.
Supplemental and Voluntary Life Insurance
Beyond the base plan, NAR may offer supplemental policies that let members increase their death benefit or add coverage for spouse and dependents. These voluntary plans are underwritten individually, meaning health questions may apply, and premiums are typically higher than the group base rate.
Whole Life and Permanent Options
Some NAR benefit programs include whole life or universal life insurance as an optional add-on. These permanent policies build cash value over time and can serve as estate planning tools, but they come with higher premiums and more complex contract terms than term coverage.
Who Qualifies for NAR Life Insurance?
Eligibility depends on active NAR membership status and, in some cases, the specific state or local association through which you enroll. Most group plans require you to be a dues-paying member at the time of enrollment. Some plans also extend coverage to spouses and dependent children, though the available amounts for dependents are often capped.
Part-time or retired members may have different enrollment windows or reduced benefit levels. If you are a REALTOR® through a local association that is part of the NAR network, check with your local board to confirm which life insurance products are currently included in your membership package.
How NAR Life Insurance Compares to Individual Policies
| Feature | NAR Group Plan | Individual Policy |
|---|---|---|
| Underwriting | Simplified or guaranteed issue for base coverage | Full medical underwriting |
| Premiums | Group rates, often lower for base benefit | Based on age, health, and coverage amount |
| Conversion | Usually convertible to individual policy | Already individual; no conversion needed |
| Portability | Coverage may end if membership lapses | Policy stays in force as long as premiums are paid |
| Dependent Coverage | Often available at group rates | Available, but priced per individual |
How to Enroll and File a Claim
Enrollment typically happens through the NAR member portal or a dedicated benefits platform provided by the insurance carrier. Members should have their membership ID and personal details ready, and they should pay close attention to the beneficiary designation step, as incorrect or outdated beneficiary information is one of the most common reasons claims are delayed.
To file a claim, the beneficiary usually needs to submit a death certificate, the policy number, and a completed claim form to the carrier. NAR and its benefit administrators provide claim packets and guidance, but the process is handled by the insurance company, not the association itself. Keeping digital copies of your policy documents and beneficiary designations in a secure place can significantly speed up the process for your family.
Things to Watch Out For
- Coverage caps: Group plans often limit the total death benefit, which may be insufficient for members with larger estates or mortgages.
- Conversion deadlines: If you leave NAR, you usually have a limited window to convert group coverage to an individual policy without proof of insurability.
- Dues changes: If your membership lapses for nonpayment, your life insurance coverage may terminate immediately.
- Tax implications: Employer- or association-paid portions of group life premiums above certain thresholds may have tax consequences; consult a tax advisor.
Is NAR Life Insurance Worth It?
For many real estate professionals, NAR life insurance offers an affordable way to secure a base death benefit without medical underwriting. It works best as a foundation, not a complete financial plan. Members with higher coverage needs should evaluate whether the group benefit alone is enough or whether they need an individual policy to fill the gap. Comparing the NAR group rate with quotes from individual carriers helps ensure you are not overpaying or underinsured.