Group Term Life Insurance Plan Highlights
Underwritten by New York Life Insurance Company
With ASCE Group 20-Year Life Insurance, you'll have access to the following benefits:
- Apply for up to $2,000,000 of coverage for both Member and Spouse.
- Competitive group rates guaranteed for a 20-year term
- No Exclusions: After coverage is in force for two years, benefits are payable for death from any cause, at any time, anywhere in the world. (Subject to U.S. government regulations on restricted countries.)
- Portable Coverage: Maintain your valuable ASCE Group 20-Year Level Term Life Insurance protection throughout your career.
- Guaranteed renewable until age 75: Provided you pay your premiums when due, remain a member of the ASCE, and the group policy remains in force, you can renew your life insurance under this ASCE plan until age 75.
- Several discounts available: Applicants meeting higher underwriting standards and who don't use tobacco or nicotine products may qualify for Preferred rates. Other non-tobacco, nicotine users may qualify for Select rates. In addition, you can benefit from volume discounts when you purchase higher amounts of insurance.
- Living benefit option ("Accelerated Death Benefit"): Enables you to apply for a portion of your benefits if you qualify as being terminally ill, subject to certain policy restrictions and limitations. These benefits are paid directly to you, and you may spend them any way you wish. (See information and rates for more details. Not available to residents of Massachusetts).
Eligibility
You are eligible to apply for $100,000 to $2,000,000 (in multiples of $10,000) of ASCE Group Year Level Term Life Insurance for both you and your lawful spouse if:
- You're an ASCE member in good standing
- You and your spouse (if proposed for insurance) are under age 65
- You and your spouse are able to perform the normal activities of a person in good health and like age (NC residents: perform the normal activities of a person of like age)
- You and your spouse reside in the United States (except territories), Puerto Rico.* Each unmarried, dependent child from age 14 days through 22 years (24 for full-time students) may also be insured for $10,000.
*Please refer to plan brochure for complete details. Certain state eligibility restrictions apply.
The ASCE Group 20-Year Level Term Life Insurance Plan is Underwritten by:
New York Life Insurance Company51 Madison Avenue
New York, NY 10010
under Group Policy No. G-29253
on Policy Form GMR-G-29253/FACE
Group Term Life Insurance Plan FAQ
Who is this plan underwritten by?
The ASCE 20-Year Level Term Life Insurance Plan is underwritten by New York Life Insurance Company, under Group Policy No. G-29253-0, on Policy Form G-29253-0/GMR-FACE.
About New York Life Insurance Company
How much life insurance do I need?
Some insurance experts suggest that you purchase life insurance equal to five to nine times your current income. In addition, you should consider how much your dependents will need to maintain their lifestyle.
Who is eligible for this insurance?
ASCE members and their lawful spouses under age 65 may apply. Also, all unmarried dependent children ages 14 days through 22 years (24 if a full-time student). In order to become insured, satisfactory evidence of insurability must be provided and the required premium must be paid.
A dependent who is also an ASCE member is eligible for either member or dependent coverage, but not both. If both member and spouse are covered as members, neither may insure the other as spouse and only one may insure any eligible children.
How much insurance can I request?
- Members—$100,000 to $2,000,000 in $10,000 multiples.
- Spouse—$100,000 to $2,000,000 in $10,000 multiples, not to exceed 100% of member's coverage.
- Child(ren)—$10,000 per child.
Note: The total amount of coverage an individual may request under all group life insurance plans underwritten by New York Life Insurance Company may not exceed $2,000,000.
Are any discounts available?
Two discounts may be available:
- Volume DiscountIf you or your spouse becomes insured for coverage amounts of $250,000 through $490,000, you'll receive a volume discount; and for amounts of $500,000 through $2,000,000 of coverage, you'll receive an even bigger discount.
- You May Pay Less If You're a Qualified NonsmokerNonsmokers meeting the highest underwriting standards may qualify for the "Preferred" (the Plan's best) rates. Other nonsmokers may qualify for "Select" (higher, but still very competitive) or "Standard" (the Plan's highest) rates.
New York Life Insurance Company
New York Life Insurance Company (New York Life) is a leader in the association group insurance field, providing life and health insurance plans for membership associations. The company has an enduring commitment to its customers' financial security. Regardless of the state of the economy or the stock market, New York Life bases its financial decisions on the guiding principle of serving its clients. The company has consistently received among the highest ratings from the leading independent ratings services: A.M. Best, Fitch Ratings, Standard & Poor's, and Moody's Investors Service for financial strength.
New York Life is licensed/authorized to transact business in all of the 50 United States, the District of Columbia, Puerto Rico, and Canada. However, not all group plans it underwrites are available in all jurisdictions. Please check the Plan details sections for current availability.
| Address: |
New York Life's state of domicile is New York
and NAIC ID # is 66915.
51 Madison Avenue
New York, NY 10010 |
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