Group Disability Income Insurance

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

* For Renewal Only
 

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

* For Renewal Only
 

How to calculate your rate

• Select your coverage 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 Insurance Company and the Trustee of the TXCPA Insurance Trust. Premium contributions may be changed by New York Life Insurance Company 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.

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.

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.

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.

All coverage is subject to underwriting approval. If your application is approved, your coverage will take effect on the date approved by New York Life Insurance Company 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.”

You can renew your coverage and it will 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.

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 Insurance Company 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.

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!