New & improved plan to help you ensure your family’s financial security!
The AIA Trust Group Term Life Insurance Plan from a financially strong carrier offers up to $1 million in term life protection for eligible AIA members – a new plan with lower rates!
It’s important to take care of your family’s day-to-day needs now. But what about the “big picture”—their future needs? What if something happened to you . . . would there be enough money to replace your income and pay for final expenses, house payments, day-to-day living cost, college expenses for your children, etc?
Chances are you don’t have enough life insurance in place. In a 2015 LIMRA study, half of the households in America say they would be in jeopardy in less then a year if they lost their primary wage earner. In fact, over 40% said they would feel the impact within just 6 months.
Right now, you can help give your family a “big picture” solution by applying for the AIA Trust Group Term Life Insurance Plan. The plan provides from $10,000 up to $1,000,000 in life benefits, which makes it easy to start a life insurance plan or help supplement one you already have at NEW LOWERED competitive members-only group rates.
Provides Up to $1 Million in Benefits for Members
The AIA Trust Group Term Life Plan offers members benefits from $10,000 up to $1 million (in $10,000 multiples). To qualify for coverage, you must be an active member of the AIA under age 65, a U.S. resident (not available in VT, WA, and territories).
Your Spouse/Domestic Partner and Children Qualify Too
Many families rely on two incomes these days. That’s why this plan offers coverage for your lawful spouse/domestic partner (under age 65) from $5,000 to $500,000 (in $5,000 multiples). The eligible Spouse of an Eligible Member cannot be insured for an amount of insurance which exceeds 50% of the amount of insurance which such Eligible Member is insured. Unmarried dependent children between 15 days and 25 years at $5,000 each. (Spouse coverage cannot exceed Member coverage.)
A dependent who is also a member is eligible for either member or dependent coverage, but not both. If both the member and spouse are covered as members, neither may insure the other as spouse. If both parents are insured as members, only one may request child coverage.
Pays “Living Benefits” if Terminally Ill
If you are diagnosed as terminally ill with less than 12 months to live, you can request up to 50% of your benefits through the Accelerated Death Benefit.
The request must be made at least 12 months prior to your scheduled coverage termination age and the amount of insurance payable after your death will be reduced by this payment. Premium contributions do not reduce.
To qualify, you must provide the insurance company with proof of terminal illness and anticipated life expectancy (12 months or less), as well as any other necessary medical information requested. Refer to the Certificate of Insurance for details.
Please note that receipt of Accelerated Death Benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should consult with the appropriate social services agency and seek the advice of a qualified tax advisor. NOTE: The Accelerated Death Benefit is not payable to residents of Massachusetts.
Benefits Automatically Increase for Member Coverage
AIA Trust Group Term Life member coverage increases each year on January 1 to help make sure coverage keeps pace with rising costs. Your benefit increase is equal to 10% of the amount of insurance in force on the applicable January 1st provided your insurance has been in force for at least 12 months (this is a compounding benefit increase).
To be eligible for this benefit increase, you must be alive, under age 60, not totally disabled on the date it would otherwise take effect, and pay the premium due for the increased amount at your then current age. This option will be offered on the member’s coverage with each January 1 premium notice. Up to 10 benefit increases may be accepted. However, if a benefit increase is accepted and the addition of such benefit increase would exceed the highest amount of insurance available to you, such benefit increase will be reduced so that such maximum is not exceeded; and no further benefit increases may be accepted. You may decline any benefit option, however, once declined, the option cannot be resumed.
Easy to Apply Today
You can apply online or print and mail an application and return it to the plan administrator. Sen no money now!
30-Day FREE Look
When you receive your Certificate of Insurance, read it carefully. If you’re not completely satisfied with the terms of your new insurance plan, simply return your Certificate, without claim, within 30 days and any premium paid will be promptly refunded. No questions asked.
Check out our NEW lowered rates as of July 2016!
You cannot be singled out for a rate increase. Rates can only change on a class-wide basis. A class is a group of people with the same age and gender. All premiums are based on applicant’s attained age at the date of issue and on each premium due date. Premiums will increase as the applicant enters a new age bracket. The premium contributions shown reflect the current rates (as of July 1, 2016) and benefit structure. Coverage reduces by 35% at age 65 and further reduces by 25% at age 70 for the amount in force prior to reaching age 70. Contact the plan administrator for renewal rates. Rates may be changed by New York Life on any premium due date and on any date on which benefits are changed. Changes to the group policy are subject to agreement between New York Life and the policyholder (Trustees of the AIA Trust). The policyholder or New York Life may terminate the plan on any premium due date by giving 90 days advance notice.
Effective Date of Coverage:
Insurance will take effect on the first of the month on or following the date your application is approved by New York Life Insurance Company, provided the initial contribution is paid within 31 days after you are billed and any person to be insured is performing normal activities of a person in good health of like age on the day of approval. If any dependent proposed for coverage is not performing his/her normal activities as required, coverage will not take effect until he/she is performing such activities provided such date is within three months after the date insurance would have been effective and the person is still eligible.
Note: Residents of NC: Any reference to “performing normal activities” is replaced by the requirement that the health status of any proposed insured person remain the same as stated in your application.
When Coverage Ends:
Coverage will end when the insured person reaches age 75, (25 for children who are unmarried dependents) or earlier if: (a) the premiums are not paid when due, (b) the group plan is terminated or modified by the policyholder to end insurance for the group of insureds to which the member belongs, and (c) if the insured requests to terminate insurance. In addition, dependent coverage will terminate when your coverage ends or earlier if the dependent spouse or child ceases to be an eligible dependent. Upon your death, coverage for insured dependents may continue with payment of premium as described in the Certificate of Insurance.
Group Conversion Privilege:
Under certain circumstances of involuntary termination or reductions in coverage, as described in the Certificate of Insurance, the Group Term Life plan provides conversion privileges without medical evidence to an individual plan.
You can name any beneficiary you wish for member coverage. You may change this beneficiary at any time, by written request. Your beneficiary is the person(s) last designated by you in writing, and recorded by or on behalf of New York Life Insurance Company. You are the automatic beneficiary for dependent insurance, as described in the Certificate of Insurance. If you wish to name another beneficiary for dependent spouse, contact the administrator at 1-877-801-3727 for the applicable form.
Exclusions and Limitations
In the case of death due to suicide within 12 months of coverage, the benefit will be limited to the return of premiums paid.
After a two year period benefits will be paid for death from any cause, at anytime, anywhere in the world. The validity of your life insurance claim will not be contested except for non-payment of premium contributions and plan provisions relating to eligibility.
Important Information from New York Life Insurance Company
New York Life Insurance Company reserves the right to request medical information to determine applicant’s medical eligibility for coverage. Based on the age of the person proposed for insurance and the amount of coverage requested, a physical examination, EKG, blood test or other information may be required. Not all applicants will have to supply additional information. However, if it is required, New York Life will arrange for an independent professional paramedic to contact you to perform these simple tests at your convenience. The exam and blood test are free-of-charge.
If we can provide the coverage you requested, we will inform you as to when such coverage will be effective. Under no circumstances will coverage be effective prior to this date. Payment of a premium contribution with your application does not mean that there is any insurance in force before the effective date as determined by New York Life.
This information is only a brief description of the principal provisions and features of the AIA Trust Group Term Life Insurance Plan under Group Policy G-11105-0/GMR-FACE issued to the Trustees of the AIA Trust and underwritten by New York Life Insurance Company.. The complete terms and conditions are contained in the Certificate of Insurance issued to each insured. The AIA Trust incurs certain administrative expenses in connection with this sponsored plan. To provide and maintain this valuable AIA membership benefit, the Trust is reimbursed for these expenses.
Hagan Barron Intermediaries
P.O. Box 1889
Sioux Falls, SD. 57101
Brian Hagan of Hagan Barron Intermediaries, is licensed/authorized to transact business in all 50 United States, and the District of Columbia. Their state of domicile is South Dakota. California Insurance license number is 0H62489. Arkansas Insurance license number is 94726.
The Group Term Life Insurance Plan is underwritten by:
New York Life Insurance Company
51 Madison Avenue, New York, NY 10010
Policy Form GMR
New York Life is licensed/authorized to transact business in all the 50 United States, the District of Columbia and Puerto Rico.
Please note that this plan is currently not available to residents of Vermont, and Washington.
New York Life Insurance Company’s state of domicile is New York and their NAIC ID # is 55915.
Call toll-free 1-877-801-3727