May 25, 2019

What AIChE Life Insurance Plan is Right for You?

AIChE Group Life Insurance Plans Comparison Guide

For more information please see specific product pages
or call 1-800-98-AICHE (982-4243).

*Rates shown are current 2012 non smoker rates (includes 20% discount in effect through 10/31/2012). Smokers may qualify for the smoker rate. Rates are discounted for options of $300,000 or more and then again for amounts of $550,000 or more. Upon approval of your application you will be notified of the rate classification for each approved person. Visit the applicable plan's COVERAGE LIMITS & RATES page for important rate information.

**Rates shown are the current (2012) Select rate. Only nonsmokers meeting the highest underwriting standards may qualify for the lower Preferred rates. Standard rates are also available. Smokers may only qualify for the Standard rates. Upon approval of your application you will be notified of the rate classification for each approved person. Visit the applicable plan's COVERAGE LIMITS & RATES page for important rate information.

±The premium contributions shown reflect the current rates and benefit structure. Premium contributions may be changed by New York Life Insurance Company on any premium due date on which benefits are changed. However, your rates may change only if they are changed for all others in the same class or insured under this group policy. For example, a class of insureds is a group of people with the same age and tobacco/nicotine use. Benefit option amounts are not guaranteed and are subject to change by agreement between New York Life Insurance Company and the Trustee of the AIChE Insurance Trust.

±±Premiums are guaranteed to remain level for the first 10 years of coverage. Then, if still eligible, you may reapply for 10-year level rates then in effect for a subsequent 10-year term; rates for a subsequent term would be determined based on the insured person’s then current age, health and tobacco/nicotine use and guaranteed for 10 years. If you or your spouse are not approved for a subsequent 10-year term of guaranteed rates, or do not apply for a subsequent 10-year term, coverage will continue in force on a non-guaranteed basis with increasing premiums as the insured ages.

±±±Premiums are guaranteed to remain level for the first 20 years of coverage. Then, if still eligible, you may reapply for 20-year level rates then in effect for a subsequent 20-year term; rates for a subsequent term would be determined based on the insured person’s then current age, health and tobacco/nicotine use and guaranteed for 20 years. If you or your spouse are not approved for a subsequent 20-year term of guaranteed rates, or do not apply for a subsequent 20-year term, coverage will continue in force on a non-guaranteed basis with increasing premiums as the insured ages.

†This benefit is not available to residents of Massachusetts. Visit PLAN DETAILS pages for more information on this benefit.

††Subject to U.S. government regulations.

1If you are under age 70 and diagnosed with a terminal illness from which you are not expected to recover, and you’re given a life expectancy of fewer than six months, you can request to receive up to 50% of your life insurance benefit, minus a processing fee, for use as you see fit. The minimum accelerated benefit amount is $10,000 (in NY, $50,000 or 25% of the coverage amount). The balance of your death benefit will remain payable to your beneficiaries upon your death. The accelerated death benefit is activated after your coverage has been in force for 30 days (no waiting period applies for accidents or in NY ); is subject to state variations, limitations and exclusions; and may be taxable. Review your Certificate of Insurance for details and consult a tax advisor regarding potential tax consequences.

2At age 75, benefits reduce to 50% of the original benefit amount, or $20,000, whichever is less.

The Group Term Life, 10-Year Group Term Life, and 20-Year Group Term Life plans are underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010, on Group Policy form GMR. This information is only a brief description of the principal provisions and features of each Plan.  Click on each coverage link for more details including eligibility, renewability, costs, exclusions and limitations. The complete terms and conditions are set forth in the group policy issued by New York Life Insurance Company to Trustee of AIChE Life Insurance Trust.

The Group 50+ plan is underwritten by American General Life Insurance Company, a member of American International Group (AIG), NAIC No. 60488, domiciled in the state of Texas with a principal place of business of 2727-A Allen Parkway, Houston, TX 77019. It is currently authorized to transact business in all states plus DC and PR, except NY.

In New York, the Group 50+ plan is underwritten by The United States Life Insurance Company in the City of New York, a member of American International Group (AIG), NAIC No. 70106, domiciled in the state of New York with a principal place of business of One World Financial Center, 200 Liberty Street, New York, NY 10281. It is currently authorized to transact business in all states plus DC, except PR.