Group  Disability Income Plan
Underwritten by New York Life Insurance Company

Insure Yourself Against Loss of Income

Surprisingly, few people realize that you have a one in three chance of becoming disabled at least once before age 65 and that the average age at which people are disabled is only 44!¹

So it makes sense to help protect yourself and your family against loss of income.

The Columbia Group Disability Income Plan can provide you with a benefit check if you were forced to stop working because of a covered disability.  With this plan, you can receive a check for up to $5,000 a month if you become disabled as a result of a covered injury or sickness.

¹ Fundamentals of Employee Benefit Programs, 5th Ed. Employee Benefit Research Institute, 1996

You Are Eligible!

If you are a Columbia University Alumnus / Alumna, you are eligible to apply for this plan. Applicants must be under 60 years of age and actively working at least 30 hours a week.

Your Rates Are Affordable

Your rates are economical because they were specially designed for groups like the Columbia Alumni Association .

You Can Be Covered 24 Hours A Day

You are covered whether you are disabled on or off the job when the disabling injury or sickness occurs... seven days a week,  365 days a year, anywhere in the world.

Waiver of Premium Benefit

Your Protection continues but you won't owe any premiums if you are under the age of 60 when the disability begins and the Total Disability lasts 6 consecutive months. Once you are no longer disabled or if earlier, the date the benefits end, you will be responsible to continue paying premiums.

You Have A 30 Day Free Look

You have 30 days to look over your Certificate.  If during that time you are not entirely satisfied with this plan for any reason, you can simply send it back to us within 30 days and owe us nothing.

When Insurance Ends

You can renew coverage through age 69.  Insurance will remain in force unless: 1) Premiums are not paid when due, 2) You retire or cease active full time employment for reasons other than total disability, 3) The group policy is terminated by the policyholder or New York Life, or 4) you request insurance to end.

DEFINITIONS...

Basic Monthly Pay
The member's monthly rate of pay from an employer on the day before total disability begins is the basic monthly pay. It includes commissions, but not bonuses, overtime or other extra compensation.

Disability
During the waiting period and the next 24 months, an insured is considered totally disabled if he/she is unable to perform the material duties of  his/her  regular job.  Thereafter, total disability is defined as the inability to perform the material duties of any gainful job for which the insured is reasonably fit by training, education or experience.

Total disability may be a result of a covered injury or sickness.  The insured must be under the regular care  of a physician and must not be performing the duties of any gainful job.

Pre-Existing Conditions
These are injuries or sicknesses for which an injured person incurred charges, received medical treatment, consulted a physician, or took prescribed drugs within 12 months before the effective date of insurance.  No benefits will be paid for disabilities  resulting from pre-existing conditions which begin within 12 months  of the effective date unless the insured person has been insured for 12 continuous months.

90 Day Waiting Period
The period of consecutive days of total disability for which no benefit is paid.  The waiting period begins on the first day of total disability. Benefits begin on the 91st day of a covered disability

Benefit Paid
If a covered disability begins before age 60, benefits are payable up to 5 years (Plan I)* or to age 65 (Plan II)*.  If you are between ages 60 and 62 when you become disabled, benefits are payable for 2 years.  Benefits for covered  disabilities beginning at age 63 and over are payable for one year or to age 70, whichever occurs first.  Benefits will continue until the earlier of (a) the date the insured is no longer totally disabled (b) the end of the maximum benefit period

*Maximum benefit period for mental, nervous, drug or alcohol disorders is 24 months.

Successive Periods of Disability
Successive periods of disability which are due to the same or related causes and not separated by a return to full-time work of at least three consecutive months or more will be considered as one period of disability.  Unrelated disabilities not separated by a return to full time work will also be treated as one period of disability.

Benefit Amounts
Monthly benefits YOU APPLY FOR cannot be more than 60% of your basic monthly pay and TOTAL MONTLY BENEFITS TO BE PAID cannot exceed 60% of your basic monthly pay.  If the monthly benefit to be paid under this plan, added to other income benefits (for example, social security and workers compenstaion benefits) to which you are entitled, EXCEEDS 70% of your basic monthly pay, then benefits under this plan will be reduced, but will be limited to the amount by which  the total income benefit exceeds such 70%.

Limitations & Exclusions
No benefits will be paid for a disability due to an intentionally self-inflicted injury (Missouri resident: the exclusion for self-inflicted injury is not applicable to injuries caused by and attempted suicide while insane), a war or an act of war, or disabilities due to or related to military service, committing a crime or attempting to do so, or pregnancy (except certain complications), a pre-existing condition (defined above), certain air travel (as described in your certificate), or a condition which is the subject of a waiver of impairment rider attached to the Certificate

Residual Benefit
If an insured returns to work after a covered disability which began prior to age 60 and which lasted for at least 30 consecutive days, he/she may be entitled to a Residual Benefit if the following criteria are met:

1. A total disability income benefit was paid for the disability for at least 3 months or if the Waiting Period was satisfied through a combination of total disability and residual disability days and
2. He/she did not receive benefits for the full maximum period applicable to the disability  and
3. His/her current average earnings during the most recent 6 months after the total disability ends are no more than 70% of their pre-disability income.  Pre-disability income is the member's average basic monthly pay for the 12 or 24 months prior  to the onset of total disability, whichever is higher

The Residual Benefit is equal to the loss of earnings ratio multiplied by the  monthly benefit in force for the insured on the date his or her covered disability begins.

For example

• Average monthly earnings before disability = $2,000
• Average residual period earnings = $1,200
• Loss of earnings ratio would therefore be 40%
• If he/she were insured for a $1,000 Monthly benefit, his/her residual benefit would equal $400 a month.

The residual Benefit will be paid for the earlier of the total disability income period which would have been paid if the underlying total disability had continued, or until the member goes for 6 consecutive months without a qualifying for Residual Benefits.

Rights To Change Benefits, Rates Or Terminate The Plan
Changes to the group policy are subject to agreement between New York Life and the Policyholder. The Policyholder or New York Life may terminate the plan on any premium due date by giving 90 days advance notice. Rates may be changed by New York Life on any premium due date and on any date which benefits are changed. You may keep your coverage in force provided you and your dependents remain eligible, the group policy remains in force, and you pay your premiums when due.