Your Family's Passport to Financial Security
Life insurance is one of the cornerstones of financial planning. In the event of an unexpected or premature death, the AJLI Group Term Life Insurance can help provide the financial security your family needs. This life insurance helps make sure they'll be able to meet current expenses such as mortgage and car payments as well as future expenses such as college tuition.
A very high percentage of American adults have life insurance. But just as important as having insurance is having coverage that's sufficient for your needs.
You can apply for this coverage if you are an AJLI member, under age 60 and residing in the U.S.*. You can also apply for coverage for your lawful spouse/domestic partner under age 60 or your unmarried dependent children ages 15 days through 24 years. In order to become insured, satisfactory evidence of insurability must be provided and the required premium must be paid.
An eligible spouse who is also an eligible member may only be insured as a member.
This coverage is available only for residents of the United States* and Puerto Rico. This coverage is not available to residents of Canada.
*Coverage is not available in all states at this time. Contact the administrator for availability in your state.
APPLY FOR UP TO $250,000 OF COVERAGE
MEMBER/SPOUSE COVERAGE OPTIONS
Under age 45 - Options of $10,000 to $250,000 (in multiples of $10,000)
Under age 60 - Options of $10,000 to $150,000 (in multiples of $10,000)
A spouse's coverage amount may not exceed the member's coverage amount.
DEPENDENT CHILD COVERAGE OPTIONS
$2,500 for each eligible dependent child ($1,000 for ages 15 days to 6 months)
Amounts of Insurance at Later Ages
On your premium due date coinciding with or next following the date you attain ages 45, 60, 65, 70 and 75, your amount of life insurance will be limited to the lesser of the amount in effect on such date, or these stated amounts:
|Age:||Life Insurance Amount|
The total amount of coverage an individual may have under all group life insurance policies underwritten by New York Life Insurance Company may not exceed $2,000,000.
COVERAGE EFFECTIVE DATE
You and your dependent children will become insured on the date specified by New York Life Insurance Company provided the initial premium contribution has been paid and satisfactory evidence of insurability has been submitted. You and your spouse (if proposed for coverage) must be performing the normal activities of a person in good health of like age (the normal activities requirement does not apply to Dependent Life insurance on an eligible child). If you are not performing the normal activities of a person in good health of like age on the date insurance would otherwise take effect, coverage will become effective on the date you are performing such normal activities provided such date is within three months of the date insurance would have otherwise taken effect and you are still eligible for the insurance. 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.
COVERAGE END DATE
Insurance will continue automatically until the policy anniversary date coinciding with or next following your or your spouse's 100th birthday (for dependent children, their 25th birthday), as long as you pay your premium when due, you remain a member of AJLI, the Group Policy remains in force and insurance does not end for your class. Coverage for your dependents will continue until your insurance ends under the group policy, the group policy is changed to end dependents’ life insurance, the eligibility requirements are no longer being met or premium is not paid for the dependent when due. If you die, your spouse and dependent children who were insured under the group policy immediately prior to your death may continue to be insured, subject to the terms and conditions of the group policy.
Living Benefit Option ("Accelerated Death Benefit")
The Living Benefit or “accelerated death benefit” is designed to provide members with the option to have a portion of a terminally ill insured's life insurance benefit paid while he/she is still alive. The money received under this feature can be used however you see fit. For example, it can help pay medical bills and other outstanding debts and financial obligations…it can help you keep your savings and assets intact…it can help you maintain your quality of living.
To qualify for this benefit, a person must be insured under this policy and diagnosed as having a life expectancy of 12 months or less. Proof of terminal illness will consist of a statement from a doctor and any other medical information New York Life Insurance Company believes necessary to confirm the person's status.
You can request payment equal to 50% of a qualified terminally ill person's in-force coverage up to $50,000. The request must be made at least 12 months prior to that person's scheduled coverage termination age, and the amount payable after the insured's death will be reduced by this payment. (Premium contributions will not be reduced.) If a scheduled reduction will occur within one year of the date the advance payment is approved, the benefit payable will be 50% of the reduced coverage. Note: An insured will be eligible for only one terminal illness benefit during his/her lifetime.
Please note that the receipt of this benefit may affect your eligibility for public assistance programs and may be taxable. You may wish to consult the appropriate social services agency and a qualified tax advisor about how this may affect your personal situation.
Premiums Are Waived If You're Totally Disabled
If you become totally disabled before age 60, and remain so disabled for nine months or longer, your insurance will be continued as long as you remain totally disabled – for both you and your insured family members – without additional premium contributions. The amount continued will be based on the options under which you and your dependents were insured at the time your disability began, subject to scheduled decreases. You may be asked to provide evidence of your continued total disability from time to time.
Life insurance benefits are paid for death from any cause, at anytime, anywhere in the world except suicide within the first two years of coverage, whether sane or insane — in which case, the benefits will be reduced to a refund of premiums paid. The validity of any amount of your life insurance which has been in force for two years during an insured's lifetime will not be contested except for insurance eligibility provisions and non-payment of premium contributions.
Certificate of Insurance
This information is only a brief description of some of the principal provisions and features of this coverage. The complete terms and conditions are set forth in the group policy issued by New York Life Insurance Company to the Association of Junior Leagues International, Inc. When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under this policy.
"30-Day Free Look"
If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it, without claim, within 30 days. Your coverage will be invalidated and you will be sent a full refund — no questions asked!
Underwritten by New York Life Insurance Company
51 Madison Avenue, New York, NY 10010
Under Group Policy G-30710-0
On Policy Form GMR-FACE/G-30710-0
New York Life is licensed/authorized to transact business in all of the 50 United States, the District of Columbia and Puerto Rico. However, not all group policies it underwrites are available in all jurisdictions. Please check the applicable insurance brochures for current availability. New York Life's state of domicile is New York, and NAIC ID # is 66915.
For premium rates, please see the brochure attachment by clicking the Download Now button to the right.
Answers about the program, including eligibility, options, customer service and more.
How do I apply?
Do I have to meet with an insurance agent?
What if I have second thoughts after I apply?
How much insurance should I consider?
Are there any exclusions?
When is the coverage effective?
Insurance will take effect on the date your application is approved by New York Life Insurance Company provided the initial contribution has been paid within 31 days after the date you are billed the proposed covered person is actively performing the normal activities of a person in good health of like age on the date of approval.
If you are not performing your normal daily activities as required, you will not become insured until the day you are performing such activities, provided such date is within three months of the date insurance would have been effective you are still eligible. (Dependent children are not subject to this requirement.)
When does coverage end?