Group Term Life Insurance
Underwritten By New York Life Insurance Company
10% Dividend for AAP Members!
The American Academy of Pediatrics Group Insurance Trust is pleased to announce that a dividend of 10% is currently in effect for the Group Life Insurance and the Group Disability Insurance. Members insured for both Life and Disability will receive 10% for the Life policy and 15% for Disability. We are pleased to pass along rate savings to you as a thank you for participation. Future premium dividends are not guaranteed and will be granted as experience allows. However, the AAP Group Insurance Trust has returned premium dividends for years.
The Time Is Now.
Life insurance isn’t usually on the forefront of people’s minds…until they need it. Whether you’re young and single or married with a family, life insurance is one of the wisest investments you can make for the future—to help ensure that your family will be free from most financial burden in the event of your death.
This Group Term Life Insurance policy is more than just a death benefit. If you become disabled, this policy enables you to keep your coverage active without paying premiums (subject to certain terms & conditions). Plus, you could receive part of your benefits early to help avoid financial hardship if you become terminally ill.
Overview of Coverage for Group Term Life:
- Up to $2,000,000 in benefits for members and spouses
- Coverage ends at age 80
- Portable - this coverage is not tied to your employment
- Accelerated death benefit
- Optional Accidental Death and Dismemberment coverage
- Non-smoker rates available
- No individual targeting for premium increase
Important Questions:
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How long can I keep this coverage?
Unlike employer-based coverage, this insurance is portable--which means that if you change jobs, your coverage does not terminate. Access to this insurance is through your AAP membership. Just maintain your membership to keep your coverage.
How much coverage should I request?
This is the most important question you could ask. Many experts recommend that you have five times your annual salary to help ensure your family’s financial responsibility is covered. However, every person’s need is different and this estimate isn’t always feasible. Calculate your coverage needs to help you find the right coverage to meet your needs and your budget.
What happens if I become totally disabled?
The Group Term Life policy includes a Waiver of Premium clause. This insured-friendly feature is built directly into the coverage to keep you insured even if you become disabled(subject to certain terms & conditions).
Do I really need life insurance when I’m young?
Life insurance isn’t just for older generations. As you reach important milestones—like graduating, buying a home, getting married, or having children—it is important to consider how your responsibilities change with each event. Many of these milestones occur while you’re young, so considering life insurance may not be a decision reserved for later in life. Thanks to the purchasing power of the AAP, it may be more budget-friendly than you realize.
Have more questions?
For more information on this coverage – features, costs, eligibility, renewability, limitations and exclusions – please download the brochure to the right or contact a specialist.
Legal Information:
This coverage can only be applied for by members. A 30 day free look provides an opportunity for return of the Certificate of Insurance without claim and a full refund. Please note state specific applications and other forms if applicable. To view a file you must have Adobe Acrobat Reader installed.
Puerto Rico residents should send application to:
Global Insurance Agency Inc.
P.O. Box 9023918
San Juan, Puerto Rico 00902-3918
AR Insurance License # 325944
CA Insurance License # 0G11911
Underwritten by New York Life Insurance Company, 51 Madison Ave., New York, NY 10010—Policy Form GMR-FACE-G46330-0. Available only for members residing in the U.S. 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 policies it underwrites are available in all jurisdictions. New York Life's state of domicile is New York, and NAIC ID # is 66915.
Michigan Residents: I understand that I may use a producer/agent to assist me with the completion of this application at no cost to me.