If you're an ASCE member, under age 75, 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. Each unmarried, dependent child from age 14 days through 29 years 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. Certain state eligibility restrictions apply.
*Coverage decreases starting at member age 65; premiums are not reduced.
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.
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. See What To Expect During Underwriting for additional details.
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. See What To Expect During Underwriting for additional details.
What is QuickDecisionSM?
QuickDecision allows the carrier to make an underwriting decision in real time based upon information gathered, and medical questions answered, online during the application process. Most QuickDecision applications do not need follow-up, however, sometimes you may need to speak with a representative to verify information or have a medical professional visit you. Coverages up to $250,000 (under age 50) are eligible for QuickDecision. See QuickDecision FAQs for additional details.
Can coverage continue if I am out of the country?
Call the Plan 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 almost 65 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 Plan 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 Insurance Company has received the highest ratings for financial strength currently awarded to any U.S. life insurer by all four major rating agencies including Moody’s Investor Service (Aaa), Standard & Poor’s (AA+), Fitch Ratings (AAA), and A.M. Best (A++).*
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
*Individual Third Party Ratings Reports (as of 9/12/19)