Group 10 Year Level Term Life Insurance

Plan Overview

Your TXCPA membership gives you an exclusive opportunity to gain Life Insurance that you and your family can count on. TXCPA’s Group 10 Year Level Term Life Insurance is the purest kind of life insurance with no costly savings features. Your premium is fixed for a full ten years, your benefits will never decrease, and you can renew your coverage up to age 75 (subject to all coverage provisions). Coverage ends at age 80.


Additionally, you’ll have access to the following benefits:

  • High amounts of Member and Spouse Coverage: Select a coverage amount to help meet your needs, from $100,000 to $2,000,000 (in $50,000 increments)
  • Volume Discount Premium Rates: Take advantage of Volume Discounted Premium Rates if you apply for $250,000 or more. If you apply for $500,000 or more, premium rates (per unit) are discounted even more.
  • Send no money until you’re approved
  • Portable Coverage: The Plan offers portable coverage that can follow you throughout your career. Make all the career changes you want and still be able to maintain this valuable protection. Subject to U.S. government regulations on restricted countries.
  • Name Your Beneficiary: You may name anyone you wish as the beneficiary of this Plan, and you may change the beneficiary at any time by contacting the Insurance Administrator (in writing) and advising them of the change.
  • Accelerated Death Benefit”: Enables you to apply for 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.

To find out more about the features, costs, eligibility, renewability, limitations and exclusions read the Group 10 Year Term Life Insurance Brochure.

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Frequently Asked Questions

Who is this plan underwritten by?

The TXCPA 10-Year Level Term Life Insurance Plan is underwritten by New York Life Insurance Company, under Group Policy No. G-29113-0, on Policy Form G-29113-0/GMR-FACE.

How much life insurance do I need?

Some insurance experts suggest that you purchase life insurance equal to six times your current income. In addition, you should consider how much your dependents will need to maintain their lifestyle.

Who is eligible for this insurance?

TXCPA members and their lawful spouses under age 65 may apply. In order to become insured, satisfactory evidence of insurability must be provided and the required premium must be paid when due.

A spouse who is also an TXCPA 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 insured member may cover children.

How much insurance can I request?

  • Members—$100,000 to $2,000,000 in $50,000 multiples.
  • Spouse—$100,000 to $2,000,000 in $50,000 multiples, not to exceed 100% of member’s coverage.
  • Child(ren)—$500 if under 1 year; $10,000 if over 1 year but under 25 years

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.

Are any discounts available?

Two discounts may be available:

  • Volume Discount If you or your spouse becomes insured for coverage amounts of $250,000 through $499,000, you’ll receive a volume discount; and for amounts of $500,000 through $2,000,000 of coverage, you’ll receive an even bigger discount.
  • You May Pay Less If You’re a Qualified Nonsmoker Nonsmokers meeting the highest underwriting standards may qualify for the “Preferred” (the Plan’s best) rates. Other nonsmokers may qualify for “Select” (higher, but still very competitive).

Insurance Carrier

New York Life Insurance Company

New York Life Insurance Company, founded in 1845 and a recognized leader in the group insurance field, is one of the largest and most respected life insurance companies in the nation. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch Ratings (AAA), Standard & Poor's (AA+) and Moody's Investors Service (Aaa). Source: Third Party Rating Reports (as of 7/30/18).

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.

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

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This plan is underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 under Group Policy No. G-29113-0, on Policy Form GMR-FACE/G-29113-0.