Protecting your most valuable asset – your family’s financial future

Why NADA Spouse Life Insurance?

As a member of an exclusive NADA dealer-owner group, you’re eligible for NADA Spouse Life — a term life insurance program endorsed by NADA with coverage issued by The Prudential Insurance Company of America.

The NADA Spouse Life Insurance Program provides life insurance coverage for your spouse. Should your loved one die, the Spouse Life Program provides money to help maintain your family’s lifestyle. It is money you can use to pay for whatever your family may need.

Like any good financial planning tool, the Spouse Life Program gives you flexibility. You can purchase Spouse coverage up to half the amount of the Dealer Life coverage you have. You can choose the amount of coverage that best fits your family’s needs, up to $1 million.

Coverage cannot be canceled due to age as long as:

• You and the dealership meet the qualifications listed;
• The program remains in force; and
• Premiums are paid on time.

To qualify for the Spouse Life Program, you must be:

• A member of NADA with a factory-approved new car or truck franchise;
• An owner of at least 10 percent of the dealership’s corporate stock, or named in a successor or nominee addendum for 10 percent ownership;
• Actively working at least 20 hours per week, or 1,000 hours per year in the business of the dealership;
• Under the age of 70; and
• Able to submit evidence of good health satisfactory to Prudential.

Participating dealerships are eligible for cash refunds, which are paid by the NADA Insurance Trust from premium refunds received from Prudential. While not guaranteed, these refunds have been paid every year since 1978.

Cash Refunds

Annual cash refunds, while not guaranteed, can significantly reduce your insurance cost. In early 2007, cash refunds were paid to eligible Spouse Life participants who were covered under the Plan for all of 2006. Shown are examples of recent monthly net costs and cash refunds per $50,000 of Life coverage. (Assumes monthly payment basis.)