This policy is underwritten by New York Life Insurance Company, 51 Madison Ave., New York, NY 10010, under Group Policy No. G-30712-0 on Policy Forms GMR-FACE/G-30712-0.

 

New York Life Insurance Company 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 website, brochure or contact the plan administrator for current availability. New York Life's state of domicile is New York, and NAIC ID # is 66915.

Some insurance experts suggest that you purchase life insurance equal to five to nine times your current income. In addition, you should consider how much your dependents will need to maintain their lifestyle.

Available exclusively to AJLI members under age 55, at FULL-TIME WORK and residing in the U.S.*, who may request coverage for themselves and their lawful spouses and domestic partners under age 55. In order to become insured, satisfactory evidence of insurability must be provided and the required premium must be paid.

 

*see "Where Available" above for excluded states

The Accelerated Death Benefit option is available to a covered person under age 70 and to help terminally ill insureds during a difficult and often financially challenging time. Under this provision you may request a one time advance payment equal to 50 percent of your or your insured spouse’s or domestic partner current life insurance coverage. The request must be made at least 24 months prior to the insured person's scheduled coverage termination age and the amount of insurance payable after the insured's death will be reduced by this payment. (Premium contributions will not be reduced.

 

This money can be used to help cover high prescription drug costs … medical bills … outstanding debts … to help pay for experimental treatments … the cost of modifications to your home … or for a family vacation—the choice is yours.

 

To qualify, a terminally ill insured must provide New York Life with proof of terminal illness (life expectancy of 12 months or less) as well as any other necessary medical information requested. For additional details and limitations, please see the Certificate of Insurance.

 

Please note that receipt of Accelerated Death Benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should consult with the appropriate social services agency and seek the advice of a qualified tax advisor.

Members.$100,000 to $1,000,000 in 1,000 multiples.

Spouse.$100,000 to $1,000,000 in $1,000 multiples, not to exceed 100% of member's coverage.

Coverage will end when the insured person reaches age 75 or earlier if: (a) premium contributions are not paid when due, (b) the group policy is terminated or modified by the Policyholder to end insurance for the group of insureds to which the member belongs, (c) AJLI membership ceases, (d) if the insured requests to terminate insurance, or (e) an insured spouse’s coverage will end he/she ceases to be the lawful, married spouse of an insured member.

Issuance of this policy is handled over the Internet and the mail. You can review the materials in the privacy of your home and purchase your insurance directly through the mail without meeting with a salesperson. You can, of course, talk to a licensed representative if you’d like. Please call the Program Administrator at 1-800-882-5547.

Insurance will take effect on first day of the policy month on or after the day your application is approved by New York Life Insurance Company provided the initial contribution is paid within 31 days after the date you are billed (send no money now) and you are at FULL-TIME WORK and your spouse, if proposed for coverage, is actively performing the normal activities of a person in good health of like age on the date of approval.

If your spouse is not performing his/her normal daily activities as required, said spouse will not become insured until the day 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.

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

Pay Less if You Are a Qualified Nonsmoker (not using any tobacco or nicotine product): Nonsmokers meeting the highest underwriting standards may qualify for the "Preferred" (the Policy's best) rates. Other nonsmokers may qualify for "Standard" rates.

After coverage is in force for two years, benefits are payable for death from any cause, anywhere in the world. If a covered person commits suicide within two years from the date the insurance takes effect whether sane or insane, the only benefit payable will be a refund of premiums paid.

When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the Policy. 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!