Group Disability Income Insurance

Guaranteed monthly income available for members facing a disability,  underwritten by New York Life Insurance Company

patient in wheelchair


A disabling accident or illness can happen in the blink of an eye – and potentially threaten your finances as well as your health. If you have to stop working due to a disability, chances are your income will stop, too. This is why disability insurance should be an essential part of every wage-earner’s portfolio.

The Texas Society of Certified Public Accountants (TXCPA) Group Disability Income Insurance pays up to $7,500 in monthly benefits directly to you in the event you become disabled – helping make sure you don’t leave your income to chance.

Features of this Coverage:

  • Choose from two plans – one addressing short-term disability, the other for long-term disability
  • Elect monthly benefits to suit your needs and lifestyle, from $200 to $7,500 in $100 multiples
  • Choice of waiting period before benefits begin – 30 days, 90 days, or 180 days
  • Disability due to pregnancy covered as any other sickness or accidental injury
  • Employees of TXCPA members eligible for short-term disability option

TXCPA members under age 60 who are actively working (in the practice of accounting) 20 hours per week or more are eligible for both plan options. Employees of TXCPA members who are under age 60 and actively working for the TXCPA member at least 20 hours per week are eligible for the Plan 5 option.

Coverage is available to residents of the U.S.

Note: This coverage is not available to individuals who are on Active Duty in the Armed Forces or to individuals residing outside of the United States.

There are two coverage options from which to choose:

  • Long-Term Disability PLAN 67 (Members Only). For covered disability caused by sickness or accident, this plan will pay your elected monthly benefit up to age 67.  If you are age 66-69 at the start of disability, the plan provides your monthly benefit for the greater of one year or to age 67.
  • Short-Term Disability PLAN 5 (Members & Employees). For covered disability caused by sickness or accident under age 60, this plan will pay your elected monthly benefit up to five years. If you are age 60-64 at the start of the disability, the plan will pay up to age 65, and if you are age 64-69 at the start of the disability, the plan provides your monthly benefit for up to one year.

You may request a monthly benefit from $200 to $7,500 in $100 units. The amount requested, when combined with all other disability insurance benefits you already carry, cannot exceed 60% of your gross monthly earnings. All applicants ages 55-59 may apply for a maximum $5,000 monthly benefit.

All benefit payments will be made directly to you and may be used in any way you choose.

Current rates are shown in the tables below. To access a convenient rate calculator, click the button on this page labeled Find Your Rate to view rates for your age for the Plan type and coverage level you choose.

Long-Term Disability
PLAN 67 (Members Only)
Current Semiannual Rates for Each $100 Unit of Monthly Benefit


Member's AgeWaiting Period
Under 30$0.84$0.65$0.40

* For Renewal Only

Short-Term Disability
PLAN 5 (Members & Employees)
Current Semiannual Rates for Each $100 Unit of Monthly Benefit

Member's AgeWaiting Period
Under 30$3.48$2.22$1.32

* For Renewal Only

How to calculate your rate

  • Select your payment option: PLAN 67 or PLAN 5.
  • Decide which day you want your benefits to begin (31st, 91st, or 181st day of disability).
  • Determine your desired monthly benefit (up to 60% of your gross monthly income). If you are age 55-59, you may apply for a maximum monthly benefit of $5,000.
  • Multiply the appropriate rate for your age by the number of $100 units you require.

Example: A 42-year-old selects Plan 5 and benefits that start on the 91st day of disability. The individual selects a $1,000 monthly benefit. Multiply the premium listed ($4.02) by 10 units for a semiannual premium of $48.24.

Important Premium Information

Your premium is based on your age when coverage is effective and increases as you attain a new age class. Coverage terminates at age 70. Benefits are subject to change by agreement between New York Life and the Trustees of the TXCPA Insurance Trust. Premium contributions may be changed by New York Life on any premium due date, and on any date which benefits are changed.

However, your rates may change only if they are changed for all others in the same class of insureds under this group policy. For example, a class is a group of people with same issue age and gender.

You choose when you want your monthly benefits to begin – on the 31st, 91st, or 181st day of total disability. The longer you wait, the lower your premium.

How Total Disability Is Determined

You will be considered totally disabled as long as you are completely and continuously incapacitated and cannot perform the material and substantial requirements of your own occupation – not just any occupation you might be reasonably qualified to perform.

You must also be under the care of a qualified physician (not including yourself or a member of your family) and you may not be working in any occupation for wage or profit during disability. This coverage does not require hospital or home confinement to be eligible to receive benefits.

If you have successive periods of disability that are due to the same or related causes and are not separated by a return to full-time work for three months or more, this will be considered one period of disability. Additionally, all unrelated disabilities that are not separated by a return to full-time work will also be considered one period of disability. Those disabilities that meet these separation requirements will be treated as a new disability, subject to a new waiting period.

Exclusions and Limitations

Benefits are not provided for disability due to: injury or sickness which is not regularly treated by a physician other than you or a member of your family; war or military service; self-inflicted injury (while sane or insane); injury or sickness resulting from the committing of a felony, the attempted committing of a felony, or engaging in any illegal occupation or activity.

If New York Life places an Impairment Restriction on your coverage, benefits are not payable for the disability due to the condition(s) outlined in the Impairment Restriction.

Disabilities due to mental or nervous disorders, alcoholism, chemical dependency, or drug addiction will be subject to a two-year maximum benefit period.

Pre-Existing Condition Limitation

A pre-existing condition is any sickness, accidental injury, or related condition for which you consulted a doctor, received medical services or supplies, or took medication during the 90-day period immediately prior to the effective date of your coverage.

If you become totally disabled due to a pre-existing condition within one year after your coverage effective date, benefits will not be payable.

After you have been continuously insured under the policy for 12 months, pre-existing conditions will be covered unless specifically excluded by an Impairment Restriction on your Certificate of Insurance.

Maternity Coverage
Total disability due to pregnancy will be covered as any other sickness or accidental injury.

Rehabilitation Assistance
To help you to return to work, the insurance company may provide you with a rehabilitation professional to review your case history and determine the potential for returning to the workforce. If you are identified as a probable candidate for rehabilitation, you will have the option of participating in an approved program at no cost to you, and you will continue to receive monthly benefits during your rehabilitation.

Maximum Benefit Period
The Maximum Benefit Period for each Plan is shown the tables below.

PLAN 67 (Members Only)

For A Covered Disability Due To A Sickness,
Pregnancy, Or An Accidental Injury Starting
Maximum Benefit Period
Before Age 66To 67th Birthday
Age 66 but before Age 701 Year

PLAN 5 (Members & Employees)

For A Covered Disability Due To A Sickness,
Pregnancy, Or An Accidental Injury Starting
Maximum Benefit Period
Before Age 605 Years
Age 60 but before Age 64To 65th Birthday
Age 64 but before Age 701 Year

Organ Transplant Benefit

If you donate an organ, you will receive disability benefits from the first day of the resulting Covered Total Disability. Your coverage must be in effect for at least six months to be eligible for this benefit.

Survivor’s Benefit
In the event you die while receiving benefits under this insurance for total disability that lasted at least 30 consecutive days immediately prior to the day of death, the insurance will provide a final benefit equal to three times the monthly benefit paid for your last day of disability.

Covered Residual Disability Benefit

This benefit is designed to help you in the event you return to work and receive lower income than prior to your disability. Certain requirements must be met to receive this benefit: you must become disabled prior to age 64, receive benefits for at least one month, and return to work before reaching your maximum benefit period. Also, upon returning to work, your earning must not exceed 75% of your pre-disability average earnings.**

** Pre-disability earnings are an average of gross monthly earnings for the 12- or 24-month period immediately preceding the onset disability, using the period that provides the highest average.

Covered residual benefits will be paid as long as disability benefits would have been paid had your total disability continued or until your income exceeds 75% of your earnings prior to your disability, whichever occurs first.

Your covered residual benefit will be a percentage of your disability benefit, equal to the percentage reduction of monthly earnings.

Example: If your last monthly total disability benefit was $2,000 and your current earnings are 40% lower than your income prior to your disability, your residual benefit would be 40% of $2,000, which comes to $800.

Coverage Effective Date

All coverage is subject to underwriting approval. If your application is approved, your coverage will take effect on the date specified by New York Life Insurance provided your premium has been paid and you are performing the normal activities* of a person in good health of like age.

If a person is not performing normal activities* on the date their coverage is effective, their effective date will be deferred until they are performing the required activities*, provided they resume normal activities within three months of their original effective date and they remain eligible.

*Residents of North Carolina: Any reference to “performing the normal activities of a person in good health of like age” is replaced with “by the requirement that the health status of the proposed insured remains the same as stated in your application.”

Coverage Renewal

Your coverage can remain in force until you reach age 70 as long as you remain an employee of a TXCPA member, you continue working at least 20 hours per week (unless there is a covered total disability), you pay your premiums when due, the group policy remains in force, and you do not enter Active Duty in the Armed Forces.

This group policy may be terminated by the TXCPA Insurance Trust or New York Life Insurance Company.

Waiver of Premium
After you have been totally disabled for six consecutive months and you begin to receive benefits of covered total disability, all future premiums under the policy will be waived for as long as you receive benefits for that disability.

Complete the application online. Please provide all requested information; failure to do so may result in a delay of application processing.

Payment Options

You may choose from two payment options when you apply online:

  • Electronic funds transfer (EFT) from a bank account you designate and your choice of monthly, quarterly, semiannual or annual billing frequency.
  • Direct bill mailed to you when you choose quarterly, semiannual, or annual billing frequency.

After your coverage is approved, you can change your payment method to credit card or debit card by contacting the group insurance administrator.

30-Day Free Look

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 receive a full refund of any premium paid – no questions asked!


This website explains the general purpose of the insurance described, but in no way changes or affects the policy as actually issued. In the event of a discrepancy between this website and the policy (Group Policy No. G-14046-2 issued to the Trustees of the Texas Society of Certified Public Accountants Insurance Trust), the terms of the policy apply.

All benefits are subject to the terms and conditions of the policy. Policies underwritten by New York Life Insurance Company detail exclusions, limitations, and terms under which the policies may be continued in full or discontinued.

Complete details are in the certificate of insurance issued to each insured individual and the Master Policy issued to the policyholder. This program may vary and may not be available to residents of all states.

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 its NAIC ID # is 66915.


Apply Now Online



Sponsored by:
Texas Society of Certified Public Accountants (TXCPA)


Underwritten by:
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010

Under Group Policy G-14046-2
On Policy Form GMR-FACE/G-14046-2


Administered by:
Forrest T. Jones & Company*
P.O. Box 418131
Kansas City, MO 64141-8131

*For Arizona residents, the administrator is Forrest T. Jones Consulting Company