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Overview
Group 20-Year Level Term Life
Level term life insurance provides coverage for a defined period, with premiums that remain level for 20 years and benefits that do not decrease.*
- Available Exclusively to State Bar of California Licensed Attorneys and Spouses/Domestic Partner Under Age 60: With the State Bar of California-Sponsored Group 20-Year Level Term Life Insurance, you can help protect your family from the unnecessary financial burdens of your or your spouse’s or domestic partner’s premature death.
- Renewable Until Age 80: You can renew your life insurance under the State Bar of California until age 80, subject to all Termination of Coverage provisions.
- High Amounts of Licensed Attorney and Spouse/Domestic Partner Coverage: From $100,000 up to $3,000,000 (in $25,000 increments).
- Specially Negotiated Group Rates That Remain Constant for 20 Years: The exclusively priced premiums for the State Bar of California-Sponsored Group 20-Year Level Term Life Insurance are made possible with our strategic alliance with New York Life Insurance Company. Choose a cost that can fit in your budget and see instantly how much sponsored Group 20-Year Level Term Insurance it can buy!
- Portable Coverage: This coverage is portable and can stay with you throughout your career.
- Living Benefit (“Accelerated Death Benefit”): Enables you to receive a portion of your benefits if you qualify as being terminally ill, subject to certain policy restrictions and limitations. These benefits are paid directly to you, and you may spend them any way you wish. Please consult your tax advisor for further details.
- You May Consider Taking Advantage Of Rate Classes And Volume Discounts: Most nonsmoking (including tobacco/nicotine) State Bar of California licensed attorneys may qualify for one of several available rates, including “Preferred Plus,” “Preferred,” and “Standard.” In addition, you can benefit from volume discounts when you apply for higher amounts of insurance.
- Send No Money Until You’re Approved
- Convenient Monthly Payment Option: A preauthorized check payment plan option offers a time-saving convenience.
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.
How to Apply
Click below to start our secure and fast process, now with QuickDecisionsm for Group 20-Year Level Term Life Insurance.
Remember, only eligible State Bar of California licensed attorneys and their spouses/domestic partners may apply.
**By clicking the Apply Now link, you will be leaving MyBarBenefits’s website. The linked site is owned and operated by New York Life, who is solely responsible for its content.
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Address
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4050 114th Street
Urbandale, Iowa 50322
Application Mailing Address
The State Bar of California-Sponsored Insurance Program
PO Box 14536
Des Moines, IA 50306
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Eligibility
| Where Available | All states and District of Columbia |
| Notes | State Bar of California licensed attorneys under age 60 may request coverage for themselves and their lawful spouses or domestic partners under age 60. In order to become insured, satisfactory evidence of insurability must be provided and the required premium must be paid. |
| Application Process | Applying is fast, with typically no medical exam in many cases, just answer online health questions. Your answers to questions, along with other information you give us permission to obtain from other sources (i.e. motor vehicle reports, prescription drug & medical claim data, Medical Information Bureau), will determine your acceptance. Since your application is processed in real time, you could get a coverage decision as soon as you complete your form (usually in less than 30 minutes). In some cases we may request a medical exam, financial information and additional medical records directly from your physician(s). Statements requiring your signature will be sent securely via DocuSign. |
Summary
| Type of Insurance | Group 20-Year Level Term Life Insurance | |
| Designed for | State Bar of California licensed attorneys (spouses and domestic partners covered as licensed attorneys) | |
| Underwritten by | New York Life Insurance Company | |
| Group Policy Number | G-30923-0 | |
| Risk Classes | Preferred Plus, Preferred, Standard, Preferred Tobacco/Nicotine and Standard Tobacco/Nicotine | |
| Issue Ages | Through age 59 | |
| Coverage Amounts | $100,000 to $3,000,000 in $25,000 increments | |
| *This is a listing of some of the general provisions of the coverage. For more information, including features, costs, eligibility, renewability, limitations, download the brochure to the right. | ||
Underwritten by New York Life Insurance Company, 51 Madison Ave., New York, NY 10010 under Group Policy Number G-30923-0 (20 Year), on Policy Form GMR-FACE/G-30923-0.
New York Life Insurance Company is authorized/licensed to transact business in all of the 50 United States, the District of Columbia, Puerto Rico, and Canada. However, not all group policies it underwrites are available in all jurisdictions. Please check the eligibility sections for current availability. New York Life’s state of domicile is New York and NAIC ID #66915.
Special ID# 8398964
frequently asked questions
How do I apply for Group 20-Year Level Term Life Insurance?
If your application is eligible for QuickDecisionsm, you can get a coverage decision as soon as you complete your form (usually in less than 30 minutes.) Applying is fast, typically with no medical exam in many cases, just answer online health questions. QuickDecisionsm uses answers to online health questions and securely accessed data which may include prescription, motor vehicle, and medical claims data. An approval decision is conditional upon your group status, coverage limits, and other factors. A referral decision may be given and may require a medical exam. Some applicants may be declined coverage. QuickDecision is not available for all products or in all states and territories.
What if my application is not eligible for QuickDecisionsm?
You will need to complete health questions through your online (or paper) application or a representative of New York Life (or their medical service provider) may contact you to collect your health history. If needed, we will schedule a medical exam (including, but not limited to, blood and urine labs) at no cost to you and at a time and place convenient to you. We will also gather information you give us permission to obtain from other sources (i.e. motor vehicle reports, prescription drug & medical claim data, Medical Information Bureau). In some cases we may request financial information and additional medical records directly from your physician(s). Statements requiring your signature will be sent securely via DocuSign.
Do I have to meet with an insurance agent?
Issuance of this policy is handled through the mail. You can review the materials in the privacy of your home and purchase your policy directly through the mail without meeting with an agent. You can, of course, talk to a licensed representative if you’d like.
What if I have second thoughts after I apply?
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!
How much insurance should I consider?
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.
Are there any exclusions?
Benefits are paid for death from any cause, at anytime, anywhere in the world except suicide within the first two years of coverage, whether sane or insane — in which case, the benefits will be reduced to a refund of premiums paid. The validity of any amount of your life insurance which has been in force for two years during an insured’s lifetime will not be contested except for insurance eligibility provisions and non-payment of premium contributions.
When is the coverage effective?
Insurance will take effect on the date your application is approved by New York Life Insurance Company provided the initial contribution has been paid within 31 days after the date you are billed and any person to be insured is actively performing the normal activities of a person in good health of like age NC residents (a person of like age) on the date of approval.
Any person who is not performing his/her normal daily activities as required 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.
When does coverage end?
Insurance for you can remain in force until: (a) premium contributions are not paid when due (b) you reach age 80 (c) you are no longer a licensed California attorney, (d) the group policy is terminated or modified by the Policyholder or New York Life Insurance Company to end insurance for the group of insureds to which you belong, and (e) you request to terminate insurance. In addition, dependent coverage will terminate when your coverage terminates, or when the eligibility requirements are no longer being met. Upon your death, coverage for your insured dependents may continue as described in the Certificate of Insurance.
Premiums are guaranteed to remain level for the first 20 years of coverage. At the end of the 20-year period, you may reapply for 20-year level term rates then in effect for a subsequent 20-year period, provided the insured person is under age 60 and otherwise eligible. If your application for a subsequent 20-year term of guaranteed rates is approved, your premium contribution will be based on the insured’s person’s age, health and tobacco/nicotine use at the time coverage becomes effective and will be guaranteed for a new 20-year term. If you and your spouse are not approved for a subsequent 20-year term of guaranteed rates, or you do not apply for a subsequent 20-year term, coverage will continue in force, subject to the renewal terms of your certificate, on a non-guaranteed rate basis, under which higher premium contributions increase annually as the insured ages.
Renewals and Limitations
Once your application is approved by New York Life Insurance, you will have a 31-day grace period for your payment of renewal premium contribution. When you want to submit a claim, call or write the Administrator for claim forms.
The total amount of coverage an individual may have under all group life insurance policies underwritten by New York Life Insurance Company may not exceed $3,000,000. In addition, the total amount of coverage an individual may have under all policies issued by New York Life Insurance Company to The State Bar of California may not exceed the maximum benefit option for any insured person.
30 Day Free Look
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 receive a full refund- no questions asked!