Oct 24, 2014

Group Term Life Insurance Highlights

Our most popular, economical plan: renewable until age 100.

Underwritten by New York Life Insurance Company on policy form GMR-FACE/G-11082-0

The AIChE Group Term Life Insurance Plan may be the easiest way to help make sure your family has the appropriate financial security. You have access to a plan designed exclusively for Chemical Engineers, up to $1,000,000 of coverage, at affordable, members-only rates.

Act now to start or supplement your life insurance program. You'll be helping to secure the future of the ones you love.

Affordable Rates

 

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

 

Guaranteed Renewable to age 100

 

Renew your coverage until age 100, regardless of changes in your health.

 

Coverage Limits1 available for Member, Spouse & Child(ren)

 

You can apply from $10,000 to $1,000,000 of protection for you and your spouse. (Spouse coverage amount may not exceed member coverage amount.) Child(ren) can be covered for $10,000 each child.

 

Automatic Benefit Increase Feature
The Member's initial coverage amount can increase by 10% each year for up to 10 years, without additional underwriting. See PLAN DETAILS for more information
 

Savings Available

 

Non-Smoker Discount if you or your spouse have not used tobacco or nicotine in any form for the past 12 months.

 

 

High Volume Discount applied for coverage amounts of $300,000 or more. Rates drop even lower above $550,0001.

 

 

Premium Credit granted when the group's financial experience is favorable.2 A 20% premium credit is in effect through April 30, 2015.

 

Living Benefit Option or "Accelerated Death Benefit"

 

Request up to 50% of your benefit face amount and spend it as you choose when terminally ill.3

 

Premiums Waived During Disability

 

If you become totally disabled, after six months your premiums can be waived.

One Exclusion
Suicide within the first 12 months of coverage

Claims Incontestable After Two Years

 

Claims cannot be denied for any reason (except plan provisions related to eligibility and non-payment of premium) once your policy has been in force for two years.

 

Coverage Travels
With You

 

Change jobs, move to another state or country, or retire and you will still be able to maintain this important protection provided premiums continue to be paid timely.

 

Send No Money Now
Simply complete and send in the application. You will be billed upon approval.
 
 

1Members and Spouses under age 70 are eligible, however coverage available per unit starts to decrease at age 60 through 69. See 'Insurance Amounts ages 60 to 99 on the PLAN DETAILS page.
The minimum coverage available for Oregon residents at time of application is $20,000.
2Premium credits are not guaranteed, but have been given each year since 1971. 
3Premiums do not reduce and the remaining face amount is payable to your beneficiary upon death. (Not available to residents of Massachusetts.)

  

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 rating 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 8/13/14.

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

X-9298-1014