| Forrest T. Jones & Company Group Insurance Administrator Providing insurance programs to associations and groups since 1953 |
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$750,000 Term Life Insurance Plan how to enroll and application premiums
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Help protect your family's financial security An exceptional value offered as a member benefit of your professional association Life Insurance is a Better Value Today Than Ever Before! Others depend on you for their daily needs and their future plans — perhaps it's assuring a college education for your children ... or providing a comfortable home for your family. However, these days it takes more money than ever to provide your family with the lifestyle you would like. Because of advances in medical technology, our lives have become longer and fuller. In fact, since 1900 the number of Americans age 65 and older has increased from 3.1 million to 34.4 million.* And rising life expectancy translates into lower premiums for life insurance. *Administration on Aging, 1999 New Reduced Rates Make it Even Easier to Help Protect Both Your Incomes. In today's dual-income society, you probably need twice the insurance protection! Both partners are essential to a family's security — both emotionally and financially. That's why your association plan makes coverage available for both you and your spouse. As an association member under age 65, you are eligible to apply for this important coverage.** Your spouse under 65 is also eligible to apply. And, there's even more good news. Your unmarried dependent children between 14 days and 21 years (23 if a full-time student) are also eligible. **Not available to residents of North Carolina, Oregon, Minnesota and South Dakota. Accelerated Death Benefit. Here's a special benefit for members and spouses. If an insured has been diagnosed with a terminal condition that results in an expected life span of 12 months or less, an Accelerated Death Benefit will be paid to the insured — up to 25 percent of the insured's Term Life insurance amount. Diagnosis and evaluation of limited life expectancy must be provided to New York Life. Upon acceptance of the claim, the benefit amount will be paid to the insured member. Upon the death of the insured, the amount of insurance then payable will be reduced by the amount of the Accelerated Death Benefit paid. The Accelerated Death Benefit is not available to residents of Massachusetts. Pay No Premiums When Disabled. If you become totally disabled while insured and before age 60, and the disability lasts for at least nine months, your coverage will continue with no premiums due! The plan premiums will be waived for as long as you remain disabled. Your coverage will be subject to the decreases shown in the schedule. Evidence of your continued disability is needed periodically. Coverage Units Remain Level Through Age 59. At ages 60, 65 and 70, each $15,000 coverage unit reduces. The current schedule of reductions is detailed below. Currently, however, the plan provides a special feature at age 70. When a member turns 70, $600 of coverage per unit in force may be provided at no cost as long as the member has been continuously insured for at least 10 years, the group policy remains in force and claims experience remains favorable. While this benefit has been in force for 10 years, of course it cannot be guaranteed in the future. If spouse coverage is in force, such coverage (face amount and contribution level) will then be based upon the spouse's age. Spouses are eligible for the special feature too! When a spouse reaches age 70, regardless of the member's age, his or her $600 of coverage per unit in force is provided at no cost as long as he or she has been continuously insured for at least 10 years, the group policy remains in force and claims experience remains favorable. When Coverage Ends. Your coverage may be continued as long as you remain a member of your association, premiums are paid when due and the group policy is not terminated by New York Life or the Policyholder. Dependents' coverage ends when they are no longer eligible. Choose Your Beneficiary. Benefits are paid to the beneficiary of your choice for death from any cause, except suicide during the first 24 months of your coverage. Limitations. In the event of your death by suicide during the first 24 months of coverage, the premiums which have been paid will be refunded to your designated beneficiary. You are automatically the beneficiary of your dependent covered children. Missouri residents: Benefits will not be paid for death resulting from suicide within the first 24 months if New York Life can show that suicide was intended at the time of application. 30-day Free Look. After receiving your Certificate of Insurance, if you decide the plan is not for you, simply return it without claim within 30 days. Your full amount of premium will be returned. Competitive Rates When Compared to Other Association Plans — Now Even Lower! See how affordable protection can be! This table gives quarterly premiums for each $15,000 unit of coverage. You and your spouse may apply for up to 50 units each. Spouse may have one more unit than member, up to $750,000 maximum. Premiums are based on member age when coverage becomes effective, and increase on the premium due date (8/1, 11/1, 2/1 or 5/1) coinciding with, or next following a change in, the member's age bracket as shown. Plus, your association receives no income when you purchase this plan. You pay only for excellent life insurance protection — pure and simple!
How to Calculate Your Premium: Multiply the quarterly premium shown for your age group by the number of $15,000 units you desire ... from 1 to 50. Spouse premium is determined in the same manner, based on member age. Multiply by 2 to pay semiannually; by 4 to pay annually.
Any Questions? Contact us or call (800) 265-9366. Important Notice: This is a brief description of the proposed insurance coverage. The complete terms and conditions are set forth in the group policy issued by New York Life to the Trustee for the Trust for Insuring Educators. Future benefits are subject to change by agreement between New York Life and the Trustee. Your coverage will become effective on the first of the month following receipt of your first premium and approval by New York Life of your Request Form, provided you are not confined to a hospital or other medical institution and are performing your normal daily activities on that day. Coverage for your approved dependents will become effective on the day yours does, if they are not confined to a hospital or other institution on that day. Payment of premium with your application does not mean there is any insurance in force before the effective date as determined by New York Life. Administered by Forrest T. Jones & Company, Inc. Insurance Administrator for participating members of TIE. Underwritten by New York Life Insurance Co. 51 Madison Avenue New York, New York 10010 Policy No. G-6300 Policy Form GMR Important Notice: How New York Life underwrites your request for coverage. Information regarding insurability will be treated as confidential. In considering whether the persons in your request for insurance qualify for coverage, we will rely on the medical information you provide and on the information you authorize us to obtain from your doctor, other medical practitioners and facilities, other insurance companies to which you have applied for insurance, and Medical Information Bureau (MIB) Inc. New York Life will not disclose such information to anyone except those you authorize or where required or permitted by law. We may make a brief report to MIB; however, we will not disclose our underwriting decision. Information in our files may be seen by New York Life and plan administrator employees, but only on a "need to know" basis in considering your request. Upon receipt of all requested information, we will make a determination as to whether your request for insurance can be approved. MIB is a non-profit organization of life insurance companies that operates an information exchange on behalf of its members. When you apply for insurance or submit a claim for benefits to an MIB member company, medical or nonmedical information may be given to the Bureau, which may then be furnished to member companies. Upon written request to us or MIB, you will be provided with nonmedical information; medical information, however, will be given only to a physician you designate. (Note: In certain jurisdictions, you may choose to receive medical information directly.) If you question the accuracy of the information provided by MIB, you may contact the MIB and seek a correction. For NM residents: In addition, protected persons* have a right of access to certain confidential abuse information** we maintain in our files and they may choose to receive such information directly. You have the right to register as a protected person by sending a signed request to the Administrator at the address listed on the application. Please include your full name, date of birth and current address. If we cannot provide the coverage you request, we will tell you why. If you feel our information is inaccurate, you will be given a chance to correct or complete the information in our files. For U.S. residents, your request is handled in accordance with the Fair Credit Reporting Act procedures. MIB's information office is at P.O. Box 105, Essex Station, Boston, Massachusetts 02112; (617) 426-3660. If we can provide the coverage you requested, we will inform you as to when such coverage will be effective. Under no circumstances will coverage be effective prior to this date. Payment of premium with your application does not mean there is any insurance in force before the effective date as determined by New York Life. * "Protected Person" means a victim of domestic abuse who has notified us that he or she is or has been a victim of domestic abuse and who is an insured or a prospective insured. ** "Confidential abuse information" means information about acts of domestic abuse or abuse status, the work or home address or telephone number of a victim of domestic abuse or the status of an applicant or insured as family member, employer or associate of a victim of domestic abuse or a person with whom an applicant or insured is known to have a direct, close personal, family or abuse-related counseling relationship. New York Life Insurance Company 12/95ed 999-31585 200 Important Replacement Information for NY Residents. It may not be in your best interest to replace existing life insurance policies or annuity contracts in connection with the purchase of a new life insurance policy, whether issued by the same or a different insurance company. A replacement will occur if, as part of your purchase of a new life insurance policy, existing coverage has been, or is likely to be, lapsed, surrendered, forfeited, assigned, terminated, changed or modified into paid-up or other forms of benefits, loaned against or withdrawn from, reduced in value by use of cash values or other policy values, changed in the length of time or in the amount of insurance that would continue or continued with a stop-page or reduction in the amount of premium paid. Prior to completing a replacement transaction, you may want to contact the insurance company or agent who sold you the life insurance or annuity contract that will be replaced, to help you decide whether the replacement is in your best interest. contact us back to the top how to apply and application Copyright©
2001 Forrest T. Jones & Company,
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