Group Accidental Death & Dismemberment Insurance Plan Details 

Learn more about Highlights, Eligibility, Coverage Limits and Rates and Frequently Asked Questions.

Members Select up to $500,000 Coverage

Members may select a principal sum ranging from $50,000 to $500,000 (in $50,000 increments).
 
Choose Between Two Plans

Select either the Member Only Plan or the Family Plan.  The Family Plan places a percentage of the member's coverage on your spouse and dependent children.  Your spouse is covered for 50% of your principal sum and each child is covered for 10% of your principal sum.

If there are no children, your spouse is covered at 60% your principal sum and if there is no spouse, your children are covered at 15% your principal sum.

Loss is defined as: with reference to limbs, actual severance through or above wrist or ankle; with reference to thumb and index finger, actual severance through or above metacarpophalangeal joints; with reference to sight, speech, or hearing, entire and irrecoverable loss thereof; with reference to movement, complete and irreversible paralysis of such limbs.

Benefits Payable Within One Year of Accident

Benefits will be paid for you, your spouse or dependent children for an injury directly caused by a covered accident, if the resulting loss occurs within 365 days of that accident, except as described in the Disappearance section below.

Disappearance

If an insured is riding in a conveyance and such conveyance either disappears or sinks as a result of an accident and the insured's body is not found within one year after that accident, the insured will be presumed dead as a result of accidental injury, and the full principal sum will be payable.

Multiple Injuries from a Single Accident

The total benefit payable for all losses due to a single accident will not be more than the principal sum.  Only one of the sums, the largest, will be paid for all injuries to the same limb resulting from one accident.

Additional Benefits Payable – For Members Under Age 70

Rehabilitation Benefit

To assist insureds return to their former productivity following an accident, an additional benefit up to a maximum of $10,000 may be payable for actual expenses incurred for approved rehabilitation training.  This benefit is for a covered loss other than loss of life. The expense must be incurred within two years after the date of the accident.

Adaptive Home/Auto Benefit

A benefit equal to the lesser of 5% of the principal sum or $5,000 will be payable for a covered loss (other than loss of life) that results in a physical disability that requires the insured person to modify his/her home and/or car.  

Day Care Benefit

A benefit equal to the lesser of 5% of the member's principal sum or $2,500 or the actual amount of Day Care costs is payable for one year if the insured member's death results from a covered loss and his or her children, under age 13, are enrolled in a day care program at the time of the loss.  The benefit is paid each year for each child who qualifies, except that no more than four Day Care Benefits will be paid for each child. (Proof of enrollment is required; details will be found in your certificate of insurance).  If the insured member has no children eligible for this benefit at the time of the covered loss, a benefit of $500 will be paid. 

Seat Belt Benefit

Should an insured die as a result of an automobile accident in which he or she was properly wearing a seatbelt, and if death occurs within 365 days of the accident, their beneficiary can receive an additional $50,000 or 50% of the principal sum (whichever is lesser).  Please refer to the certificate of insurance for certain limitations and conditions on this benefit.

Airbag Benefit

If the insured was positioned in a seat protected by a properly functioning, original, factory-installed airbag system that inflates on impact when an accident occurs, the plan will pay an additional 10% of the insured persons principal sum up to a maximum of $25,000

Education Benefit

After the covered loss of a member's life, an education benefit equal to the lesser of 2% of the principal sum or $2,500 or the actual amount of tuition for one school year, will be payable for up to four years for each insured dependent who is enrolled as a full-time student at an institute of higher learning, such as a college, university or trade school.  This benefit will also be paid for any dependents who enroll at an educational institute within 365 days of the accident.  If no insured spouse or child qualifies for this benefit, a lump sum benefit equal to 4% of the member's principal amount will be payable.

Spouse Critical Period

If the insured member or insured spouse dies as a result of a covered accident, the survivor will receive additional monthly payments equal to 1% of the member's principal sum. These payments will be made until the earlier of six months or the survivor's death.

Elder Care

A benefit equal to the lesser of 5% of the principal sum or $5,000 will be payable if an insured's death is the result of a covered accident and that insured's elderly relative (other than a spouse) was dependent on the insured for support and maintenance.

Common Carrier Benefit

An additional $25,000 benefit will be payable if a covered loss occurs as a result of an accident while a passenger on a licensed common carrier (train, bus, etc.).

Repatriation Benefit

An additional benefit of up to $25,000 will be payable if a covered accidental death occurs outside of the insured person's state or country of residence.  This benefit will pay for actual expenses incurred for the preparation and transportation of the body to the place of burial or cremation.

Burn Disfigurement

A benefit equal to the lesser of 10% of the principal sum or $30,000 will be payable for a covered loss that causes an insured to suffer a disfigurement due to burns, covering at least 5% of the body.

For Members Age 70 and Above

Common Carrier Benefit

When the insured member or spouse reaches Age 70, coverage is converted to Common Carrier Travel Accident Insurance only. A benefit is payable for a covered loss which is the result of an accident while traveling as a passenger in a common carrier (such as a train, bus or aircraft) properly licensed and operated for that purpose. Any principal sum in excess of $100,000 will be reduced to $100,000.

Payment Options

Two payment modes are available to suit your needs and budget: Electronic Fund Transfer (EFT) and direct billing. 

If you choose to have your premiums deducted electronically from your checking or savings account, you can select from monthly, quarterly, semiannual or annual EFT options.  Bills sent to you directly can be mailed on a quarterly, semiannual or annual basis.

Premiums on the Rate page are shown annually.  When paying monthly divide the annual rate by 12; quarterly, divide the annual rate by 3; and semiannually, divide the annual rate by 2.

Effective Date

Insurance for you and your eligible dependents will become effective on the date specified by New York Life Insurance Company provided:

• the initial contribution has been paid, and
• you and your approved dependents are actively performing the normal activities of a person in good health of like age on that date.

Dependent insurance will not take effect unless your insurance is in effect on a premium paying basis, and any person who is not performing his/her normal activities as required will not become insured until the date 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. (Payment of a premium contribution for insurance does not mean there is any coverage in force before the effective date as specified by New York Life Insurance Company.)

Note: Residents of MD and NC: Any reference to "performing normal activities" is replaced by the requirement that the health status of any proposed insured person remain the same as stated in your application.

When Coverage Ends

Insurance will terminate on the occurrence of the earliest of these conditions:

• if premium contributions due are not paid;
• if the Group Policy is terminated or modified by the Policyholder or New York Life Insurance Company to end insurance for the group of insureds to which the insured belongs;
• for any insured person, if the principal sum for that insured has been paid;
• for dependent spouse and/or child coverage, if member coverage ends, except that such dependent coverage may be continued on a premium paying basis if the member's Principal Sum has been paid;
• for a dependent spouse, when he/she is no longer a lawful married spouse;
• for a dependent child, upon reaching age 19 (26 if a full-time student).

A member's surviving spouse and children may continue coverage if it was in force at the time of the member's death, as described in the Certificate of Insurance.

Beneficiary

You may select any person, persons, trust or other legal entity as your beneficiary for death benefits. If, at the time of your death, there are no surviving beneficiaries, benefits will be paid to the executor or administrator of your estate, or at the option of New York Life, to the surviving relatives in the following order of survival: spouse; children equally; parents equally; or brothers and sisters equally.  You are the automatic beneficiary for Dependent Coverage and for Dismemberment Benefits.

Renewal Payments and Claims

Once you are accepted into the plan, you will have a 31-day grace period for payment of renewal premium contributions.

When you want to submit a claim, call or write the Administrator for claim forms.

30-Day "Free Look"

If approved, you will be sent a certificate of insurance summarizing your benefits under the Group Accidental Death & Dismemberment plan. If you are not completely satisfied, you may return your certificate of insurance, without claim, within 30 days. Your coverage will be invalidated and you will receive a full refund—no questions asked.

Certificate of Insurance

When you become insured you will be sent a certificate of insurance summarizing your coverage. This web site contains only a brief description of some of the plan's principal provisions and features. The complete terms and conditions are set forth in the group policy issued by New York Life Insurance Company to the Trustee of the American Institute of Chemical Engineers Insurance Trust.

Underwritten by New York Life Insurance Company, under Group Policy No. G- 29343-0, on Policy Form GMR-FACE /G- 29343-0