This policy is underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010, under Group Policy No. G–29194–0, on Policy Form G–29194–0/GMR–FACE. 

About New York Life Insurance Company 

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Some insurance experts suggest that you purchase life insurance equal to five to nine times your current income. In addition, you should consider how much your dependents will need to maintain their lifestyles.

ESD members under age 65 may request coverage for themselves, their lawful spouses under age 65, and all unmarried dependent children ages 14 days through 22 years (24 if a full–time student). In order to become insured, satisfactory evidence of insurability must be provided and the required premium must be paid. 

A dependent who is also an ESD member is eligible for either member or dependent coverage, but not both. If both member and spouse are covered as members, neither may insure the other as spouse, and only one may insure any eligible children. 

This coverage is available only for residents of the U.S. (except OR, SD and territories) and Puerto Rico.

Members—$100,000.00 to $1,000,000.00 in $10,000.00 multiples. 
Spouse—$100,000.00 to $1,000,000.00 in $10,000.00 multiples, not to exceed 100% of member’s coverage.
Child(ren)—$10,000.00 per child 

Note:  The total amount of coverage an individual may request under all group life insurance policies underwritten by New York Life Insurance Company may not exceed $2,000,000.00. 

In addition, the total amount of coverage for a member insured by more than one group policy—or more than one organization participating in such a group policy—issued by New York Life Insurance Company to the Trustee of the Engineering Associations Insurance Trust (of which ESD is a participant) may not exceed the maximum benefit option for any insured person.

Two discounts may be available:

• Volume Discount If you or your spouse becomes insured for coverage amounts of $250,000.00 through $490,000.00, you’ll receive a volume discount; and for amounts of $500,000.00 through $1,000,000.00 of coverage, you’ll receive an even bigger discount.
• You May Pay Less If You’re a Qualified Non–Smoker Non–smokers meeting the highest underwriting standards may qualify for the "Preferred" (the Policy’s best) rates. Other non–smokers may qualify for "Select" (higher, but still exclusively priced) or "Standard" (the Policy’s highest) rates.

Issuance of this coverage is handled over the Internet and by mail. You can review the materials in the privacy of your home and purchase your coverage directly through the mail without meeting with a salesperson. You can, of course, talk to a licensed representative if you’d like. Please view the Contact Us section for the Program Administrator’s toll–free number.

Insurance will take effect on the date your application is approved by New York Life Insurance Company, provided the initial premium contribution is paid within 31 days after the date you are billed (send no money now) and any person to be insured is performing the normal activities of a person in good health of like age on the date of approval.

Coverage will end when the insured person reaches age 75 (23 for children, or 25 for children who are full–time students), or earlier if: (a) premium contributions are not paid when due; (b) the group policy is terminated or modified by the Policyholder to end insurance for the group of insureds to which you belong or; (c) the insured requests to terminate insurance. In addition, dependent child coverage will terminate when the child ceases to be an eligible dependent. Upon your death, coverage for your insured dependents may continue as described in the Certificate of Insurance.

No. Benefits are paid for death from any cause, at any time, anywhere in the world. The validity of any amount of your life insurance which has been in force for two years during an insured’s lifetime will not be contested except for insurance eligibility provisions and non–payment of premium contributions.

The "Accelerated Death Benefit" option is available to help terminally ill insureds during a difficult, and often financially challenging time. Under this provision you may request one advance payment equal to 50% of your (or an insured dependent’s) in–force life insurance to be paid while the terminally ill person is still alive. 

The request must be made at least 12 months prior to the insured person’s scheduled coverage termination age, and the amount of insurance payable after the insured’s death will be reduced by this payment. (Premium contributions will not be reduced.) 

This money can be used to help cover high prescription drug costs … medical bills … outstanding debts … to help pay for experimental treatments … the cost of modifications to your home … or for a family vacation – the choice is yours. 

To qualify, a terminally ill insured must provide the New York Life Insurance Company with proof of terminal illness and anticipated life expectancy (12 months or less), as well as any other necessary medical information requested. For additional details and limitations, please see the Certificate of Insurance. 

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.

When you become insured, you will be sent a Certificate of Insurance summarizing you benefits under the Policy. 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 be sent a full refund – no questions asked!