Group Term Life Insurance
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 TXCPA 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.
- 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.
Frequently Asked Questions
How do I calculate the rate on a TXCPA 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 TXCPA 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 TXCPA Group Insurance Program is administered by Pearl Insurance Group, LLC. Pearl Insurance strives to provide TXCPA members with the most relevant, competitively priced member benefit insurance packages for individuals and their families. Pearl Insurance has been providing associations like the TXCPA with quality group coverage for 65 years.
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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Group Term Life Insurance: 3 Important Reasons to Consider
Group Term Life Insurance: Types of Insurance
Applications & Brochures
Brochure ( Rates are included.)
Application (download and mail)
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