GROUP TERM LIFE Insurance

If your application is eligible for QuickDecision^sm, 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. QuickDecision^sm 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.

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.

Issuance of this policy is handled through the mail. You can review the materials in the privacy of your home and apply for your policy directly through the mail without meeting with an agent. You can, of course, talk to a licensed representative if you’d like.

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!

Some insurance experts suggest that you consider 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.

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.

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.

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.

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.

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!