Group Term Life Insurance

Plan Overview

Many financial experts believe that life insurance coverage should be equal to six times your annual income. For those with several children or large financial obligations, chances are your needs will be even greater. The TSCPA provides the Group Term Life Insurance Plan to help. This plan allows you to begin your life insurance portfolio, or add to your existing life insurance, at economical rates.

Features

  • Choice of benefits
  • Economical rates
  • Accelerated Benefits Provision allows you to use a portion of your benefit if a terminal illness is diagnosed
  • Choice of beneficiary
  • Spouse and children eligible for coverage
  • Review your cost of living regularly to be sure your life insurance is adequate. The Group Term Life Insurance Plan can be an effective way to update your coverage.

To find out more about the features, costs, eligibility, renewability, limitations and exclusions read the Group Term Life Insurance Brochure.

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Frequently Asked Questions

  • How do I calculate the rate on a TSCPA Group Life Insurance Plan?

    Premium contributions for both the member and spouse are based on the member's age and increase as the member grows older.

  • How long does the application process take? When will my coverage become effective?

    For some plans, coverage becomes effective within a few days of receiving your application. For others, the process is longer because of required medical underwriting procedures. The "underwriting process" depends on many factors: the number of persons to be insured, their ages, the amount of coverage for which you apply, your medical history and that of your family members (if requesting dependent coverage), and the type of coverage requested.

  • Do I have to take a medical exam, blood test, or other health analysis?

    Whether or not you must undergo medical testing depends on the plan you are requesting, your age, the amount of coverage for which you apply, and your individual medical history.

  • Can coverage continue if I am out of the country?

    Call the Administrator for more details as coverage varies depending on the plan.

  • Who is the carrier on the Group Term Life Insurance Plan?

    The TSCPA Group Term Life Insurance plan is underwritten by New York Life Insurance Company under policy form GMR-G-14046-1/FACE.

  • Who Administers the Program?

    The TSCPA Group Insurance Program is administered by Pearl Insurance Group, LLC. Pearl Insurance strives to provide TSCPA members with the most relevant, competitively priced member benefit insurance packages for individuals and their families. Pearl Insurance has been providing associations like the TSCPA with quality group coverage for nearly 55 years.

Insurance Carrier

New York Life Insurance Company

New York Life Insurance Company (New York Life) is a leader in the association group insurance field, providing life and health insurance plans for associations. The company has an enduring commitment to its customers' financial security. Regardless of the state of the economy or the stock market, New York Life bases its financial decisions on the guiding principle of serving its clients. New York Life has received the highest ratings for financial strength currently awarded to any life insurer from the leading independent ratings agencies, including A.M. Best (A++ as of 7/1/2015).

New York Life is licensed/authorized to transact business in all of the 50 United States, the District of Columbia, Puerto Rico, and Canada. However, not all group plans it underwrites are available in all jurisdictions. Please check the Plan details sections for current availability.

Address
New York Life
State of Domicile:  New York
NAIC ID #66915
51 Madison Avenue
New York, NY 10010 USA