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 Group Term Life
Insurance Plan
Underwritten by New York Life Insurance Company
| PREMIUM INFORMATION... |
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The following are current SEMI-ANNUAL rates per $25,000 as of July 2011 for member and spouse.
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$25,000 - $125,000 |
$150,000 - $225,000* |
$250,000 - $500,000 |
| Age |
Non-Smoker
Rates |
Smoker
Rates |
Non-Smoker
Rates |
Smoker
Rates |
Non-Smoker
Rates |
Smoker
Rates |
| <20 |
$11.50 |
15.00 |
11.00 |
14.25 |
10.75 |
14.00 |
| 20-24 |
13.50 |
17.50 |
12.50 |
16.50 |
12.25 |
16.00 |
| 25-29 |
14.25 |
18.50 |
13.75 |
17.75 |
13.25 |
17.00 |
| 30-34 |
15.50 |
20.25 |
14.75 |
19.00 |
14.25 |
18.50 |
| 35-39 |
19.75 |
25.50 |
19.00 |
24.50 |
18.50 |
24.00 |
| 40-44 |
29.25 |
38.00 |
27.75 |
36.25 |
27.00 |
35.25 |
| 45-49 |
45.00 |
58.25 |
43.00 |
56.00 |
41.50 |
54.00 |
| 50-54 |
70.00 |
91.00 |
67.00 |
87.00 |
64.75 |
84.25 |
| 55-59 |
109.00 |
141.50 |
104.25 |
135.50 |
100.50 |
130.75 |
| 60-64 |
163.75 |
213.00 |
156.75 |
203.75 |
151.25 |
196.50 |
| 65-69 |
248.00 |
322.50 |
237.25 |
308.50 |
229.25 |
298.25 |
| 70-74 |
397.00 |
516.00 |
N/A |
N/A |
N/A |
N/A |
All Children - $8.64. Benefits: $4,000 each from the age of 6 months to 20 years (24 years if a full-time
student); $100 each between 15 days and 6 months.
- Initial and renewal premiums will be based on insured’s age as of the preceeding July 1. If your birthday is July 1, it will be based on your age on such July 1.
- New York Life reserves the right to change rates on any premium due date but not more than once in a 12 month period, and on any date on which benefits
are changed but only on a classwide basis. A class is a group of insureds with the same age and tobacco/nicotine use.
- Semi-annual premium due dates are January 1 and July 1 of each year. Your first premium will be for one semi-annual period plus any preceeding months on a pro-rate basis.
- On the July 1st 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.
HOW TO DETERMINE YOUR
TOTAL SEMI-ANNUAL PREMIUM |
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| Example: |
Member, age 37, applies for $100,000 (4 units) of coverage. Spouse, age 34, also applies for $100,000 of coverage. Both are non-smokers. And 3 children also are to be insured. |
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|
| |
Member: $19.75 x 4 units = $79.00
Spouse: $15.50 x 4 units = $62.00
Children 8.64 |
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TOTAL: $ 149.64 semi-annual premium |
Please contact the plan administartor if you need assistance calculating premium or help completing your application. |
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