If you're an ASCE member, under age 70, and a resident of the United States, Puerto Rico (other U.S. territories excluded), or a resident of Canada (excluding Quebec), you're eligible to apply for $10,000 to $1,000,000 (in multiples of $10,000) of ASCE Group Term Life Insurance**. You may also apply for $5,000 to $1,000,000 (in multiples of $5,000) of Term Life coverage for your lawful spouse under age 70 and a resident of the US. Each unmarried, dependent child from age 14 days through 22 years (24 for full-time students) may also be insured for $10,000. A dependent who is also an ASCE member is eligible for either member or dependent coverage, but not both.
*Please refer to plan brochure for complete details, including features, costs, eligibility, renewability, limitations and exclusions. Certain state eligibility restrictions apply.
** Coverage decreases starting at member age 65; premiums are not reduced. New insureds aged 70-72 are eligible to apply for benefit amounts up to $500,000, and insureds aged 73-75 are eligible to apply for benefit amounts up to $350,000, per the current age reduction schedule and subject to medical underwriting.
Frequently Asked Questions
How do I calculate the rate on an ASCE Group Life Insurance Plan?
Premium contributions for both the member and spouse are based on the member's age and increase as the member grows older. Premiums may be periodically increased on plans to reflect plan utilization and help ensure their financial stability.
Get a Rate Quote Now!
Can my spouse obtain separate coverage?
When will my coverage become effective?
For some plans, coverage becomes effective within a few days of receiving your application. For others, the process is longer because of required medical underwriting procedures. The "underwriting process" depends on many factors: the number of persons to be insured, their ages, the amount of coverage for which you apply, your medical history and that of your family members (if requesting dependent coverage), and the type of coverage requested.
Do I have to take a medical exam, blood test, or other health analysis?
Whether or not you must undergo medical testing depends on the plan you are requesting, your age, the amount of coverage for which you apply, and your individual medical history.
Can coverage continue if I am out of the country?
Call the Administrator for more details as coverage varies depending on the plan.
Who is the carrier on the Group Term Life Insurance Plan?
The ASCE Group Term Life Insurance plan is underwritten by New York Life Insurance Company under policy form GMR-G-10500-1/FACE.
Who Administers the Program?
The ASCE Group Insurance Program is administered by Pearl Insurance Group, LLC. 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.
Who recommends/approves benefit changes or premium changes?
The insurance companies reserve the right to change rates. They usually report "plan experience" (or the number and size of claims made) twice a year and, if applicable, rate action recommendations. Using this information, the program Administrator works with ASCE to evaluate the recommendations and decide what, if any, action (i.e. a rate action, a change in benefits, or even a change in insurance companies) is appropriate to maintain each plan's financial stability and competitive status. ASCE ultimately approves the action, and insured members are advised of their decision prior to implementation.
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 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. New York Life has received the highest ratings for financial strength currently awarded to any life insurer from the leading independent ratings agencies, including A.M. Best (A++), Fitch Ratings (AAA), Standard and Poor's (AA+), and Moody's Investor Services (Aaa). Source: Individual Third Party Ratings Reports (as of 8/9/2016).
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
State of Domicile: New York
NAIC ID #66915
51 Madison Avenue
New York, NY 10010 USA