Oct 23, 2017

Group Disability Income Insurance Highlights

Provides you with an income when a covered injury or illness prevents you from working.

Underwritten by New York Life Insurance Company on policy form GMR-
FACE/G-29342-0

Disability insurance is one of the most important and yet most overlooked coverages in many financial portfolios.  You’ve worked hard and may have spent a great deal of money to get to where you are today.  Disability insurance helps protect your investment by supplying you with a monthly income that could be used to pay your bills without being forced to liquidate assets or tap into your savings.

Valuable Income Replacement

Replace up to 60% of your "average monthly income" (see PLAN DETAILS for definition) when a covered injury or illness prevents you from working.

Affordable Rates

Gain access to economical rates that are expected to remain constant during 5-year age bands.

Variety of Plan Choices*

Receive between $110 and $7,700 of monthly benefits.

Collect benefits for up to 5 years (Five Year Plan) or to age 65 (Career Plan).

Determine when benefits begin: after a 30, 60, 90, 180 or 365 day waiting period. Longer waiting periods reduce costs.

Definition
of Disability

Protects you as an engineer by defining "Totally Disabled" as 'preventing you from performing the material and substantial duties of your usual occupation.'

Premiums Waived
During  Disability

Become disabled before age 60 and after six months, all future premium contributions will be waived for the duration of your disability.

Catastrophic
Disability Option

Elect this option and if your disability is "catastrophic" as defined in the Certificate of Insurance, you may be able to replace up to 100% of your pre-disability income.

Residual Disability Benefit

Return to work part-time while still disabled and you can receive a percentage of your monthly benefit, sometimes called a 'partial disability' benefit.

Additional Benefits Paid

Provides coverage for an approved rehabilitation program, spouse/elder care, an organ transplant and survivor benefits.  See PLAN DETAILS page for more information.

 

*See Plan Details page for additional information.

About New York Life Insurance Company

New York Life Insurance Company, founded in 1845 and a recognized leader in the group insurance field, is one of the largest and most respected life insurance companies in the nation. New York Life has received the highest possible ratings for financial strength currently awarded to any life insurer by all four major ratings agencies; A.M. Best (A++), Fitch Ratings (AAA), Standard & Poor's (AA+), and Moody's Investors Service (Aaa).*

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 applicable eligibility page for current availability.

*Source: Third Party Ratings Report as of 8/11/15.

New York Life's state of domicile is New York, and NAIC ID # is 66915.

 446936-0116