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Group 10-Year Level Term Life Insurance Plan Highlights
Underwritten by New York Life Insurance Company
With ASCE Group 10-Year Level Term Life Insurance, you'll have access to the following benefits:
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:
*Please refer to plan brochure for complete details. Certain state eligibility restrictions apply.
The ASCE Group 10-Year Level Term Life Insurance Plan is Underwritten by:
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
under Group Policy No. G-29137-0
on Policy Form GMR-G-29137-0/FACE
With ASCE Group 10-Year Level Term 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 10-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 10-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).
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, or Canada (except Quebec).* 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 10-Year Level Term Life Insurance Plan is Underwritten by:
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
under Group Policy No. G-29137-0
on Policy Form GMR-G-29137-0/FACE
Group 10-Year Level Term Life Insurance Plan FAQ
Who is this plan underwritten by?
The ASCE 10-Year Level Term Life Insurance Plan is underwritten by New York Life Insurance Company, under Group Policy No. G-29137-0, on Policy Form G-29137-0/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:
Are there any exclusions?
No. Benefits are paid for death from any cause, at any time, anywhere in the world (Subject to U.S. government regulations on restricted countries.) The validity of any amount of your life insurance which has been in force for two years during an insured's lifetime will not be contested except for insurance eligibility provisions and non-payment of premium contributions.
How does the Accelerated Death Benefit work?
The "Accelerated Death Benefit" option is available to help terminally ill insureds during a difficult, and often financially challenging time. Under this provision you may request one advance payment equal to 50 percent of your (or an insured dependent's) in force life insurance to be paid while the terminally ill person is still alive. The request must be made at least 12 months prior to the insured person's scheduled coverage termination age and the amount of insurance payable after the insured's death will be reduced by this payment. (Premium contributions will not be reduced.)
This money can be used to help cover high prescription drug costs ... medical bills ... outstanding debts ... to help pay for experimental treatments .. the cost of modifications to your home ... or for a family vacation—the choice is yours.
To qualify, a terminally ill insured must provide New York Life Insurance Company with proof of terminal illness and anticipated life expectancy (12 months or less), as well as any other necessary medical information requested. For additional details and limitations, please see the Certificate of Insurance.
Please note that receipt of Accelerated Death Benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should consult with the appropriate social services agency and seek the advice of a qualified tax advisor.
Note: The Accelerated Death Benefit is not available to residents of Massachusetts.
When is the coverage effective?
Insurance will take effect on the date your application is approved by New York Life Insurance Company, provided the initial premium contribution is paid within 31 days after the date you are billed (send no money now) and any person to be insured is performing the normal activities of a person in good health of like age [NC Residents: a person of like age] on the date of approval
Any person who is not performing his/her normal daily activities as required will not become insured until the day he/she is performing such activities, provided such date is within three months of the date insurance would have been effective and the person is still eligible.
When does the coverage end?
Insurance coverage can remain in force until the insured person reaches age 75 (23 for children, or 25 for children who are in full-time students) provided: (a) you continue to pay premium contributions when due, (b) you remain an ASCE member, (c) the group plan is not terminated or modified by the Policyholder to end insurance for the group of insureds to which you belong, and (d) you do not request to terminate insurance. In addition, dependent child coverage will terminate when the child ceases to be an eligible dependent.
Who Administers the Program?
The ASCE Group Insurance Program is administered by Pearl Insurance. Pearl Insurance strives to provide ASCE members with the most relevant, competitively priced member benefit insurance packages for individuals and their families. Pearl Insurance has been providing associations like the ASCE with quality group coverage for nearly 55 years.
What if I have second thoughts after I apply?
When you become insured, you will be sent a Certificate of Insurance summarizing you benefits under the Plan. If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it, without claim, within 30 days. Your coverage will be invalidated and you will be sent a full refund—no questions asked!
The ASCE 10-Year Level Term Life Insurance Plan is underwritten by New York Life Insurance Company, under Group Policy No. G-29137-0, on Policy Form G-29137-0/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?
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 Discount If 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 Nonsmoker Nonsmokers 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.
Are there any exclusions?
No. Benefits are paid for death from any cause, at any time, anywhere in the world (Subject to U.S. government regulations on restricted countries.) The validity of any amount of your life insurance which has been in force for two years during an insured's lifetime will not be contested except for insurance eligibility provisions and non-payment of premium contributions.
How does the Accelerated Death Benefit work?
The "Accelerated Death Benefit" option is available to help terminally ill insureds during a difficult, and often financially challenging time. Under this provision you may request one advance payment equal to 50 percent of your (or an insured dependent's) in force life insurance to be paid while the terminally ill person is still alive. The request must be made at least 12 months prior to the insured person's scheduled coverage termination age and the amount of insurance payable after the insured's death will be reduced by this payment. (Premium contributions will not be reduced.)
This money can be used to help cover high prescription drug costs ... medical bills ... outstanding debts ... to help pay for experimental treatments .. the cost of modifications to your home ... or for a family vacation—the choice is yours.
To qualify, a terminally ill insured must provide New York Life Insurance Company with proof of terminal illness and anticipated life expectancy (12 months or less), as well as any other necessary medical information requested. For additional details and limitations, please see the Certificate of Insurance.
Please note that receipt of Accelerated Death Benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should consult with the appropriate social services agency and seek the advice of a qualified tax advisor.
Note: The Accelerated Death Benefit is not available to residents of Massachusetts.
When is the coverage effective?
Insurance will take effect on the date your application is approved by New York Life Insurance Company, provided the initial premium contribution is paid within 31 days after the date you are billed (send no money now) and any person to be insured is performing the normal activities of a person in good health of like age [NC Residents: a person of like age] on the date of approval
Any person who is not performing his/her normal daily activities as required will not become insured until the day he/she is performing such activities, provided such date is within three months of the date insurance would have been effective and the person is still eligible.
When does the coverage end?
Insurance coverage can remain in force until the insured person reaches age 75 (23 for children, or 25 for children who are in full-time students) provided: (a) you continue to pay premium contributions when due, (b) you remain an ASCE member, (c) the group plan is not terminated or modified by the Policyholder to end insurance for the group of insureds to which you belong, and (d) you do not request to terminate insurance. In addition, dependent child coverage will terminate when the child ceases to be an eligible dependent.
Who Administers the Program?
The ASCE Group Insurance Program is administered by Pearl Insurance. Pearl Insurance strives to provide ASCE members with the most relevant, competitively priced member benefit insurance packages for individuals and their families. Pearl Insurance has been providing associations like the ASCE with quality group coverage for nearly 55 years.
What if I have second thoughts after I apply?
When you become insured, you will be sent a Certificate of Insurance summarizing you benefits under the Plan. If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it, without claim, within 30 days. Your coverage will be invalidated and you will be sent a full refund—no questions asked!
Group 10-Year Level Term Life Insurance Plan Forms
Group 10-Year Level Term Life Insurance Plan Brochure (includes rates)
Group 10-Year Level Term Life Insurance Plan Application (download and mail)
Group 10-Year Level Term Life Insurance Plan Change of Beneficiary Form
Group 10-Year Level Term Life Insurance Plan Accelerated Death Benefit Form
Group 10-Year Level Term Life Insurance Plan Dealth Claim Form
Group 10-Year Level Term Life Insurance Plan Illustration of Certificate Values Before and After Acceleration
Group 10-Year Level Term Life Insurance Plan Claim Form for Group Waiver of Premium Benefits
Group 10-Year Level Term Life Insurance Plan Survivorship Affidavit
Group 10-Year Level Term Life Insurance Plan Claim Form for Proceeds
Group 10-Year Level Term Life Insurance Plan Application (download and mail)
Group 10-Year Level Term Life Insurance Plan Change of Beneficiary Form
Group 10-Year Level Term Life Insurance Plan Accelerated Death Benefit Form
Group 10-Year Level Term Life Insurance Plan Dealth Claim Form
Group 10-Year Level Term Life Insurance Plan Illustration of Certificate Values Before and After Acceleration
Group 10-Year Level Term Life Insurance Plan Claim Form for Group Waiver of Premium Benefits
Group 10-Year Level Term Life Insurance Plan Survivorship Affidavit
Group 10-Year Level Term Life Insurance Plan Claim Form for Proceeds
Group 10-Year Level Term Life Insurance Plan Contact
| Address: | ASCE Member Insurance Program 1200 East Glen Avenue Peoria Heights, IL 61616-5348 |
| Phone: | 800.650.ASCE (2723) |
| Email: | customerservice@asceinsurance.com |
| Website: | http://www.asceinsurance.com |
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.
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 |
