Alum AD from New York Life

Whether on the job, at home, or somewhere in between, accidents happen when we least expect them. Accidental Death insurance helps offset the burden your family might face in the event of your death from an accident. And it’s affordable – $100,000 of coverage for $5.40 per month.

There are no health questions to answer, and acceptance is guaranteed.

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As life unfolds and responsibilities mount, take time to prepare for the unexpected. Here are three sound reasons to have this group Accidental Death insurance (AD), available exclusively to alums, now:

  1. Financial Obligations Do you have credit card debt, auto loans, or student loans? Your AD benefit can be used to help pay off debts and reduce the financial burden on family and friends should the unthinkable happen.
  2. Funeral Costs The average funeral costs over $7,000.* This can present a financial hardship for most families. AD can also be a welcome source of funds for other final expenses, which may not be covered by your health insurance.
  3. Protecting Your Future Insurance from your employer doesn’t follow you from job to job—that is if your employer even offers coverage. Your status as an alum will never change, so your insurance can stay with you, no matter where you go.

*National Funeral Directors Association (NFDA), 2015

New York Life Insurance Company is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world. New York Life remains one of only two life insurers with the highest financial strength ratings currently awarded by all four of the major rating agencies, out of 800 life insurers operating in the United States today.

Rating Service: A.M. Best Moody’s Standard & Poors Fitch Ratings
Rating:* A++
(superior)
Aaa
(highest quality)
AA+
(very strong)
AAA
(exceptionally strong)

*Individual independent rating agency commentary as of 8/9/16

Insurance is underwritten by New York Life Insurance Company (NAIC 66915), 51 Madison Avenue, New York, NY 10010 on Policy Form GMR FACE G-16000 to the Collegiate Alumni Trust. New York Life Insurance Company is domiciled in the State of New York and is licensed to do business in the 50 United States, the District of Columbia, Puerto Rico, and Canada. Information sent will include details of coverage, including exclusions and renewability. Eligibility is limited. For a list of licensed agents, click here.

Residents of all eligible states and DC: Premiums are listed below.

To apply online for Accidental Death insurance, click here.

If you prefer, you may instead download the application, complete, sign, and mail.

Current Premiums for Select Amounts
Insurance Amount
Age 18-64
Age 65-69
Age 70-74
1 Month
6 Months
1 Month
6 Months
1 Month
6 Months
$50,000 $2.70 $16.20 $2.70 $16.20 $2.70 $16.20
100,000 5.40 32.40 5.40 32.40 5.40 32.40
150,000 8.10 48.60 8.10 48.60 8.10 48.60
200,000 10.80 64.80 10.80 64.80 10.80 64.80
250,000 13.50 81.00 13.50 81.00 13.50 81.00
300,000 16.20 97.20 16.20 97.20 NA* NA*
350,000 18.90 113.40 18.90 113.40 NA* NA*
400,000 21.60 129.60 21.60 129.60 NA* NA*
450,000 24.30 145.80 24.30 145.80 NA* NA*
500,000 27.00 162.00 27.00 162.00 NA* NA*
550,000 29.70 178.20 NA* NA* NA* NA*
600,000 32.40 194.40 NA* NA* NA* NA*
650,000 35.10 210.60 NA* NA* NA* NA*
700,000 37.80 226.80 NA* NA* NA* NA*
750,000 40.50 243.00 NA* NA* NA* NA*
800,000 43.20 259.20 NA* NA* NA* NA*
850,000 45.90 275.40 NA* NA* NA* NA*
900,000 48.60 291.60 NA* NA* NA* NA*
950,000 51.30 307.80 NA* NA* NA* NA*
1,000,000 54.00 324.00 NA* NA* NA* NA*

Current as of September 2016

*Accidental Death insurance is available from $50,000 to $1,000,000 (in $1,000 multiples). The maximum available at age 65 is $500,000, and the maximum at age 70 is $250,000.

FREQUENTLY ASKED QUESTIONS

This Group Accidental Death insurance (AD) pays your beneficiary if your death results from a covered accidental injury within one year of the injury. This payment is in addition to any life insurance you may have. AD covers you 24 hours a day, every day of the year, worldwide. There are no health questions to answer, and your acceptance is guaranteed.
AD is for people who are active, travel, engage in sports—particularly those who are young in fact or in spirit. Do you walk, run, hike, bike, or boat? Do you climb a ladder or a mountain? Do you ski, or swim, or snorkel, or scuba? Do you fish, hunt, or camp? Do you travel by train? By plane? Car? Motorcycle? If so, AD is probably for you.
Some people think that AD is like travel accident or flight insurance. It really isn't. Travel accident customarily pays benefits for accidental death only while you are a passenger on commercial transportation, referred to as "common carriers." But AD also covers deaths from falls and falling objects, fires and firearms, poisoning, choking, suffocating, drowning, common carrier and personal travel—even homicides.

Alumni/ae, students, faculty and staff of sponsoring alumni/ae associations, and eligible family members may apply. Each must be at least age 18 but under 75 when applying. Eligible family members are spouses, domestic partners, parents, children, and siblings. Any of them may apply—even if you do not apply.

This AD is not available in NY, OR, SD, VT, or WA. Click here for other AD that may be available. (AD is not available in OR.)

Age
Amount
18-64
$50,000 - 1,000,000
65-69
50,000 - 500,000
70-74
50,000 - 250,000

Premiums are under 20¢ a day for $100,000 of AD insurance.

Have you ever purchased AD insurance, or even the more restrictive accident insurance? If so, you’d probably agree that premiums for this AD plan are affordable. In fact, they are less than half of premiums for AD plans available through some other sponsors, such as banks and credit unions.

Current Monthly Premiums for Select Amounts
Insurance Amount
Age 18-64
Age 65-69
Age 70-74
$100,000 $ 5.40 $ 5.40 $ 5.40
250,000 13.50 13.50 13.50
500,000 27.00 27.00 NA
1,000,000 54.00 NA NA
Premiums as of September 2016
  1. Monthly automatic withdrawal from your bank (EFT). You do not write checks or worry about paying late. There is no processing fee for this convenience. Click here to download the EFT form.
  2. Semiannual bills payable by check. Semiannual premiums are six times monthly premiums. A fee of $6, subject to change, is added to each bill.
For the same affordable premium, benefits will be increased:
  • By 10% if death is due to an accident on a “common carrier” (airplane, bus, taxi, train, etc.)
  • By the cost (up to $5,000) of preparing your body for burial or cremation and transporting it to the place of burial or cremation if death occurs in a foreign country.

Coverage will continue until age 75 if premiums are paid when due and the group policy remains in force.

Benefits will not be paid (1) if the accident causing death occurs before insurance begins and premium is paid; or (2) if death occurs during, is due to, or is related to suicide (MO residents, suicide not excluded unless intended at time of application), drug abuse, war, active duty in an armed service, flying in a non-certified aircraft, flying as a crew member except on a regularly scheduled commercial flight, committing a felony or assault, or participating in an illegal occupation or activity.