Eligibility
CAA members can apply for coverage for themselves and their lawful spouses under age 65. Dependent children ages 14 days through 19 years (through 23 if full-time student) may also be covered.
Spouses are eligible for coverage even if the member is not insured under this plan. In this situation, the spouse will be considered a member and will pay the member rate. If both parents are insured members, children may only be covered once by one parent.
Coverage is available to residents of the 50 United States, District of Columbia, and Puerto Rico
How Much Is Available?
Eligible members may apply for up to $1,000,000 in increments of $25,000 for themselves and their eligible spouse. Spouse coverage amounts cannot exceed member amounts at time of application.
Eligible children may be covered for $4,000 each ($1,000 from 14 days to 6 months.)
If you are currently covered under this plan, you may apply for more, not to exceed the plan maximum. Your existing coverage will not be affected by your new application for coverage. Combined coverage under the Group Term Life and the 10-Year Level Term Life plans may not exceed $1,000,000 per life. A child may not be insured for more than one $4,000 benefit under all policies issued by New York Life.
Only One Exclusion - You are covered 24 hours a day, every day of the year no matter where you are for any cause of death other than suicide within the first two years after coverage becomes effective. MO Residents: benefits will not be paid for death resulting from suicide within the first two years if New York Life can show suicide was intended at the time of application.
Features
Automatic Benefit Increase Option – Keeping up with your family’s future needs can be a challenge in the face of increasing expenses. This optional benefit can help you meet those needs. Once approved for coverage, you can count on guaranteed automatic 10% benefit increases each year for up to 10 years (not to exceed the plan maximum). After 12 months of continuous coverage, your coverage increase will take effect each July for 10 years without having to answer additional health questions or medical exams*..
Accelerated Death Benefit - a living benefit feature is included to provide terminally ill insureds, diagnosed with 12 months** or less to live, with an option to have up to 50% of their benefit amount paid while they are still living. Premiums do not reduce. Please note receipt of this benefit may be taxable and may affect your eligibility for public assistance programs.
Accidental Death Benefit – an additional benefit is available to all insured members or dependents equal to 50% of the amount of insurance in force (exclusive of any benefit enhancements) if death is caused by a covered accident that occurs while coverage is in force. Death must occur within 180 days of the accident.
Current Quarterly Rates per $25,000 coverage unit
Insured Age |
GLG & GLP Rates |
Under 20 |
$14.09 |
20-24 |
$16.10 |
25-29 |
$17.25 |
30-34 |
$18.69 |
35-39 |
$23.86 |
40-44 |
$35.08 |
45-49 |
$54.34 |
50-54 |
$84.53 |
55-59 |
$137.71 |
60-64 |
$207.29 |
65-69 |
$313.38 |
70-74 |
$250.99 |
Rate for all dependent Children (regardless of number covered): $9.64
On July 1 coinciding with or next following attainment of age 70, benefits reduce to the lesser of 50% of your current amount of insurance, or $100,000. Premiums do not reduce.
Important Information
You Select Your Beneficiary – Insured members and spouses may name anyone as beneficiary. The insured member is automatically the beneficiary of any child coverage. Member and spouse beneficiaries may be changed at any time by notifying the Plan Administrator in writing.
Effective Date - The first of the month following the date coverage is approved, provided the person to be insured is performing the normal activities of a person in good health of like age on the date of approval and premiums are paid when due.* Any person not performing his or her normal activities will not become insured until the day he / she has resumed normal activities, provided it is within 3 months of the date insurance was approved and they are still eligible.
Reductions – Coverage reduces to the lesser of 50% of benefit amount or $100,000 at age 70 for members or spouses. Premiums do not reduce.
When Coverage Ends – Coverage can continue until age 75 if premiums are paid when due, you do not request to end insurance, and the Group Policy is still in force. Dependent coverage can continue if the insured member dies.
Conversion Privileges – If coverage involuntarily ends or reduces, members and dependents group coverage may be converted to individual whole life coverage, dependent on certain conditions, without medical exams. Full details are contained in the Certificate of Insurance.
Change of Benefit or Termination Rights – Changes to the Group Policy are subject to agreement between New York Life and the Policyholder. Either may terminate the plan on any premium due date by giving 31 days notice
Satisfaction Is Important - 30 Day Free Look
Once coverage is approved, you will be mailed a Certificate of Insurance detailing your coverage. If you are not 100% satisfied with the terms for any reason, you may return it within 30 days without claim. Any premiums you have paid will be refunded – no questions asked.
Applying Couldn’t Be Easier
Apply online in a matter of minutes. There are no medical questions to answer. You select the best time that works with your busy schedule for a Medical Underwriting Professional to contact you to obtain your medical history. There are typically no medical exams required for most applicants. It’s that easy. Take a few minutes to protect your family today.
This plan description is a summary of benefits, subject to the terms, conditions, and limitations of Group Policy GMR-FACE/G-29076-0. Complete details on benefits and provisions are included in the Certificate of Insurance provided at the time of issuance.
Questions? Call: 800-223-8646
Plan Administrator:
AmWins Group Benefits
P.O. Box 152501
Irving, TX 75015-2501
Phone: 800-223-8646
Email: irvcustomerservice@amwins.com
Brokered by:
Aon Consulting, Inc. (AR# 100103224) in AZ Aon Consulting Inc of NJ, in CA Aon Benefit and Insurance Services of New Jersey license#0747600, in ID & ME Aon Benefit Aon Benefit & Insurance Services, in KY Aon Benefit & Insurance, in MA Aon Consulting, Inc of New Jersey, in MO & OK Aon Consulting of New Jersey Inc, in NH Aon Consulting, in NY Aon Consulting
Underwritten by:
New York Life Insurance Company
51 Madison Avenue, New York, NY 10010
NAIC #66915
On Policy Form G-29076-0/GMR-FACE
WEBPTD_16T
Current 2024 Annual Rates per $1,000
GL1 & SL1 Rates - $25,000-$149,000
Insured Age |
Member or Spouse Non-Smoker |
Member or Spouse Smoker |
Under 20 |
$0.56 |
$0.72 |
20-24 |
$0.64 |
$0.84 |
25-29 |
$0.69 |
$0.89 |
30-34 |
$0.75 |
$0.98 |
35-39 |
$0.95 |
$1.23 |
40-44 |
$1.40 |
$1.83 |
45-49 |
$2.17 |
$2.82 |
50-54 |
$3.38 |
$4.40 |
55-59 |
$5.51 |
$7.16 |
60-64 |
$8.29 |
$10.78 |
65-69 |
$12.55 |
$16.32 |
70-74 |
$10.04 |
$13.05 |
GL2 & SL2 Rates - $150,000-$249,000*
Insured Age |
Member or Spouse Non-Smoker |
Member or Spouse Smoker |
Under 20 |
$0.53 |
$0.69 |
20-24 |
$0.61 |
$0.79 |
25-29 |
$0.66 |
$0.86 |
30-34 |
$0.71 |
$0.92 |
35-39 |
$0.91 |
$1.18 |
40-44 |
$1.34 |
$1.75 |
45-49 |
$2.08 |
$2.70 |
50-54 |
$3.23 |
$4.20 |
55-59 |
$5.27 |
$6.85 |
60-64 |
$7.93 |
$10.30 |
65-69 |
$12.01 |
$15.61 |
70-74 |
$10.04 |
$13.05 |
GL3 & SL3 Rates - $250,000-$500,000*
Insured Age |
Member or Spouse Non-Smoker |
Member or Spouse Smoker |
Under 20 |
$0.52 |
$0.68 |
20-24 |
$0.60 |
$0.77 |
25-29 |
$0.63 |
$0.83 |
30-34 |
$0.68 |
$0.89 |
35-39 |
$0.89 |
$1.15 |
40-44 |
$1.31 |
$1.70 |
45-49 |
$2.00 |
$2.60 |
50-54 |
$3.13 |
$4.07 |
55-59 |
$5.09 |
$6.61 |
60-64 |
$7.65 |
$9.95 |
65-69 |
$11.61 |
$15.09 |
70-74 |
$20.08 |
$13.05 |
The amount that will be billed for the July 1 premium is $292.50 ($585.00 divided by 2)
The premium amount is guaranteed not to change for 10 full years.
Premium Payments
Your Premiums will be due semi annually, each January and July 1. If coverage is effective on a due date other than a premium due date, your premium invoice will be pro-rated from your effective date to the next semi-annual premium due date.
Rates after the first 10 years may be changed by New York Life on any premium due date and on any date which benefits are changed, but only on a class wide basis. A class is a group of people with the same age and gender.