Group 20 Year Level term life Insurance
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What Is 20-Year Level Term Insurance?

Term coverage is the purest kind of life insurance, with no costly savings features. Here is term life insurance you can depend on for premiums that will not go up for a full 20 years and benefit options that will not go down while you are insured. You can renew coverage up to age 75, subject to all termination of coverage provisions.

Available to ACP members and spouses under age 55, the Group 20-Year Level Term Life Insurance Plan helps you protect your family from the financial burdens of your or your spouse’s premature death. Your renewal is guaranteed until age 75, provided you pay premiums when due, remain a member of ACP, and the group policy remains in force.

You can select a coverage amount to help meet your needs, from $100,000 up to $2,000,000 (in $10,000 units). The Plan features "Super-Preferred" and "Preferred" Non-Smoker Rates and you can benefit from volume discounts when you apply for higher amounts of insurance. Plus, send no money until you are approved.

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How To Apply

Consider Your Eligibility

Before you request coverage, you must be a member in good standing of ACP. Please wait until your application for membership is accepted before initiating your insurance requests. If you have any questions regarding membership, please call ACP directly.

Get Quicker, Easier Service When You Apply

The information provided when you fill out your Application can make the medical underwriting process quicker and easier. By providing complete and accurate information, you avoid delays that may occur while we wait for missing information to be received and shorten the time needed for underwriting decisions and approvals.

New York Life Insurance Company relies on your answers and statements. Misstatements or failures to report information on your Application may be used as the basis for rescinding your insurance.

The Group 20-Year Level Term Life Insurance Plan is medically underwritten based on the information provided by you on the Application. It is important that you complete the form truthfully and completely. Your Application is subject to New York Life Insurance Company’s approval and more medical information may be requested. A physical exam, EKG, blood test or other information may be required. If so, we will arrange for an independent professional paramedic to contact you to perform these simple tests at your convenience. The exam and blood test will be paid for by the Plan.

  1. Click on and print the applicable application located to the right.
  2. If a Domestic Partner Form is required, please print and include with your application. The form can be located on the “forms” tab.
  3. Truthfully complete and sign the application. Be sure to indicate whether you are requesting coverage for your dependents.
  4. Do not send any money until New York Life Insurance Company has approved your application and notifies you of the premium contribution due, based on the information you have provided.
  5. Mail your completed application to:

    Administrator, ACP Group Insurance Program
    P.O. BOX 10374
    Des Moines, IA 50306

    Residents of Puerto Rico:
    Please send your completed application to:
    Global Insurance Agency, Inc.
    P.O. Box 9023918
    San Juan, PR 00902-3918

New York Life Insurance Company

Eligibility

All ACP Members, Associates, Medical Students, Physician Affiliates, Non-Physician Affiliates, Fellows and Masters under age 55, may request coverage for themselves, their lawful spouse under age 55 and all unmarried dependent children ages 15 days to 23 years (25 if a full–time student). In order to become insured, individuals must provide satisfactory evidence of insurability and pay the required premium.

A dependent, who is also a member, is eligible for either member or dependent coverage, but not both. If both the member and spouse are covered as members, neither may insure the other as spouse and only one may insure any eligible children.

This coverage is available only for residents of the United States (except territories) and Puerto Rico.

Apply for Up to $2,000,000 of Coverage

Choose the amount of Group 20–Year Level Term Life Insurance you need to help protect you and your family for the next 20 years – without the worry of premiums that could go up or benefits that could go down.

Amounts of Insurance:

  • Members --$100,000 up to $2,000,000 in $10,000 multiples.
  • Spouse --$100,000 up to $2,000,000 in $10,000 multiples, not to exceed 100% of member’s coverage.
  • Child(ren) -- $5,000 each ($500 for eligible children under age 6 months).

The total amount of coverage an individual may have under all group life insurance plans underwritten by New York Life Insurance Company may not exceed $2,000,000. In addition, the total amount of coverage an individual may have under all group policies issued by New York Life Insurance Company to the Trustees of the American College of Physicians, Inc. Insurance Trust may not exceed the maximum benefit option for any insured person.

Plan Features

Pay Less If You’re a Qualified Non–Smoker

Non–smokers meeting the highest underwriting standards may qualify for "Super-Preferred" (the Plan’s best) rates. Other non–smokers may qualify for "Preferred Non Smoker" (higher, but still very competitive) or "Non Smoker" rates. Smokers may only qualify for "Preferred Smoker" or "Smoker rates.

Save with Volume Discounts on Higher Amounts of Insurance

If you or your spouse becomes insured for coverage amounts of $250,000 through $999,999, you’ll receive a volume discount; and for amounts of $1,000,000 through $2,000,000 of coverage, you’ll receive an even bigger discount.

Continuing Insurance After the 20–Year Term Ends

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 55 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 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 on a non–guaranteed rate basis, under which premium contributions increase as the insured ages.

Help Keep Your Cost Manageable

Two modes of payment are available to suit your budget: semiannual billing; and our semiannual or monthly Electronic Funds Transfer (EFT) option (your cost would be approximately one–half or one–twelfth, respectively, the amount you calculate from the rate chart.)

Other Important Information

Valuable Living Benefit Provision "Accelerated Death Benefit"

The "Accelerated Death Benefit" option is available to help terminally ill insureds during a difficult, and often financially challenging time. Under this provision you may request one advance payment equal to 50% of your (or an insured dependent’s) in force life insurance to be paid while the terminally ill person is still alive. The request must be made at least 12 months prior to the insured person’s scheduled coverage termination age and the amount of insurance payable after the insured’s death will be reduced by this payment. (Premium contributions will not be reduced.)

This money can be used to help cover high prescription drug costs, medical bills, outstanding debts, to help pay for experimental treatments, the cost of modifications to your home, or for a family vacation the choice is yours.

To qualify, a terminally ill insured must provide New York Life Insurance Company with proof of terminal illness and anticipated life expectancy (12 months or less), as well as any other necessary medical information requested. For additional details and limitations, please see the Certificate of Insurance.

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.

Note: The Accelerated Death Benefit is not available to residents of Massachusetts.

Exclusions

Benefits are paid for death from any cause, at anytime, anywhere in the world except suicide within 24 months from the issue date. The only amount payable will be a return of applicable contributions.

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 nonpayment of premium contributions.

You Name Your Beneficiary

Your beneficiary is the person(s) last designated by you in writing and recorded by or on behalf of New York Life Insurance Company. You may change this beneficiary designation at any time by written request. You are the automatic beneficiary for dependent insurance as described in the Certificate of Insurance. If you wish to name another beneficiary for spouse insurance, contact the Administrator for the applicable forms. You may select any person, persons, trust or other legal entity as your beneficiary. If, at the time of your death, there are no surviving beneficiaries, benefits will be paid to the executor or administrator of your estate, or at the option of New York Life, to the surviving relatives in the following order of survival: spouse; children equally; parents equally; or brothers and sisters equally.

Ownership of Insurance

"Owner" means the person or entity with rights of ownership of this insurance as described in the Certificate of Insurance. If a transfer of ownership has been recorded by or on behalf of New York Life Insurance Company, or if initial ownership is by other than the member according to the information provided on the application, references throughout this Plan Information to "you" or "member" will mean "owner" as applicable.

Effective Date

Insurance will take effect on the date your application is approved by New York Life Insurance Company provided the initial contribution is paid within 31 days after the date you are billed (send no money now) 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 Coverage Ends

Coverage will end when the insured person reaches age 75 (23 for children, or 25 for children who are full–time students) or earlier if: (a) premium contributions are not paid when due, (b) ACP membership ends, (c) the group plan is terminated or modified by the Policyholder to end insurance for the group of insureds to which the member belongs, and d) if the insured requests to terminate insurance. In addition, dependent coverage will terminate when your coverage ends, or when the dependent spouse or child ceases to be an eligible dependent. Upon your death, coverage for your insured dependents may continue as described in the Certificate of Insurance.

Renewal Payments And Claims

Once you are accepted into the Plan, you will have a 31–day grace period for your payment of renewal premium contributions. When you want to submit a claim, call or write the Administrator for claim forms.

Certificate Of Insurance

This information is only a brief description of the principal provisions and features of the Plan. The complete terms and conditions are set forth in the group policy issued by New York Life Insurance Company to the Trustees of the American College of Physicians, Inc. Insurance Trust. When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the Plan.

Your Cost

To see the rate charts for this product, select the Insurance Application and Brochure PDF at the right.

Answers about the plan, including eligibility, options, enrollment, customer service and more.

This plan is underwritten by New York Life Insurance Company, under Group Policy No. G-29197-0 on Policy Form GMR–FACE/G–29197-0.

Coverage will end when the insured person reaches age 75 (23 for children, or 25 for children who are full-time students) or earlier if: (a) premium contributions are not paid when due, (b) ACP membership ends, (c) the group plan is terminated or modified by the Policyholder to end insurance for the group of insureds to which the member belongs, and d) if the insured requests to terminate insurance. In addition, dependent child coverage will terminate when the dependent spouse or child ceases to be an eligible dependent. Upon your death, coverage for your insured dependents may continue as described in the Certificate of Insurance.

Insurance will take effect on the date your application is approved by New York Life Insurance Company, provided the initial premium contribution is paid within 31 days after the date you are billed (send no money now) and any person to be insured is 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.

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.

This Plan is available exclusively to ACP members under age 55, who may request coverage for themselves, their lawful spouses under age 55, and all unmarried dependent children ages 15 days through 22 years (24 years if a full-time student). In order to become insured, satisfactory evidence of insurability must be provided and the required premium must be paid.

A dependent who is also an ACP member is eligible for either member or dependent coverage, but not both. If both member and spouse are covered as members, neither may insure the other as spouse and only one may insure any eligible children.

This coverage is available only for residents of the United States (except territories) and Puerto Rico.

Members —$100,000 to $2,000,000 in $10,000 multiples.

Spouse — $100,000 to $2,000,000 in $10,000 multiples, not to exceed 100% of member’s coverage.

Child(ren) — $500 14 days — 6 months, $5,000 coverage between the ages of 6 months and 23 years (25 if a full–time student).

Note: The total amount of coverage an individual may request under all group life insurance plans underwritten by New York Life Insurance Company may not exceed $2,000,000. In addition, the total amount of coverage an individual may have under all group policies issued by New York Life Insurance Company to the Trustees of the ACP Life Insurance Trust may not exceed the maximum benefit option for any insured person.

Two discounts may be available:

  • Pay Less If You’re a Qualified Non-Smoker: Non-smokers meeting the highest underwriting standards may qualify for "Super Preferred" (the Plan’s best) rates. Other non-smokers may qualify for "Preferred Non Smoker" (higher, but still very competitive) or "Non Smoker" rates. Smokers may only qualify for "Preferred Smoker" or "Smoker" rates.
  • Save With Volume Discounts on Higher Amounts of Insurance: If you or your spouse becomes insured for coverage amounts of $250,000 through $999,000, you’ll receive a volume discount; and for amounts of $1,000,000 through $2,000,000 of coverage, you’ll receive an even bigger discount.

Benefits are paid for death from any cause, at any time, anywhere in the world except suicide within 24 months from the issue date. The only amount payable will be a return of applicable contributions.

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 nonpayment of premium contributions.

The "Accelerated Death Benefit" option is available to help terminally ill insureds during a difficult and often financially challenging time. Under this provision you may request one advance payment equal to 50% of your (or an insured dependent’s) in force life insurance to be paid while the terminally ill person is still alive. The request must be made at least 12 months prior to the insured person’s scheduled coverage termination age and the amount of insurance payable after the insured’s death will be reduced by this payment. (Premium contributions will not be reduced.)

This money can be used to help cover high prescription drug costs...medical bills...outstanding debts...to help pay for experimental treatments...the cost of modifications to your home...or for a family vacation — the choice is yours.

To qualify, a terminally ill insured must provide New York Life Insurance Company with proof of terminal illness and anticipated life expectancy (12 months or less), as well as any other necessary medical information requested. For additional details and limitations, please see the Certificate of Insurance.

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.

Note: The Accelerated Death Benefit is not available to residents of Massachusetts.

When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the Plan. 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!

The ACP Insurance Trust incurs costs in connection with this sponsored Program. To provide and maintain this valuable membership benefit, it is reimbursed for these costs. The ACP also receives a fee for the license of its name and logo for use in connection with this Plan.

These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing.

Insurance Application and Brochure

Domestic Partner Form



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We're here to help! Please contact us in whatever manner is most convenient for you.

Program Administrator, ACP Group Insurance Program

Mercer Consumer
P.O. Box 10374
Des Moines, IA 50306
Phone: 1-888-643-0323
Email: ACPgroupins.service@mercer.com

Insurance Company

New York Life Insurance Company
51 Madison Avenue
New York, NY 10010

Insurance Application and Brochure Download

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