Step 3: Review Your Coverage Details

Group Term Life

Life insurance can make a huge difference for your loved ones during an extremely difficult time. If you were to pass away unexpectedly, your family could struggle to afford life’s daily expenses. But how do you know if term life coverage is right for you?

Many people will choose a term life policy if they need coverage quickly or if their budget is tight. The initial rates this insurance provides usually means you can purchase more coverage for your dollar.

Here is a quick summary:

• Apply for up to $1,000,000 in coverage and keep it in place until age 100.
• Renew each year without a physical exam—even if your health changes.¹
• Portability, meaning you’ll retain your coverage even if you change jobs.²
• If you are under age 50 and apply for $250,000 or less in coverage, you may qualify for no medical exams, faster processing, and a quicker decision on your application.
• Rates may start off lower but will increase as you age.

How much coverage do I need?

Ideally, you should have 7–10 times your annual salary in coverage. Our recommendation errs on the conservative side as we want you to have an adequate amount of coverage at a member only rate. The specific amount of coverage you should purchase is up to you. But if you need assistance, we’re happy to help! Just call us at 800.650.2723, or select the option to send your portfolio to a representative and we’ll review your options with you.

¹Provided you are still eligible. If not, you can continue your coverage at conventional rates without a physical exam.

²If you pay your premium when due, maintain your ASCE membership, and the group policy remains in force.

Note: This monthly rate is based on your answers and a coverage amount of $100,000, which was determined based on the average of what other ASCE members have in place. You can adjust your coverage amount during the application process.

The ASCE Group Life Insurance Plans are underwritten by New York Life Insurance Company, 51 Madison Avenue, NY, NY 10010, under group policy GMR, Policy Numbers GMR-G-10500-1/FACE, GMR-G-29137-0/FACE, GMR-G-29253-0/FACE.

For more details, including features, costs, eligibility, renewability, limitations, and exclusions, see the product brochure on the New York Life application portal. A link to the brochure can be found on the product selection step per product.

1847434

Step 3: Review Your Coverage Details

Group 10-Year Level Term Life

10-year level term life insurance coverage can provide you a decade of protection, giving you peace of mind in knowing your family will have help being cared for after you're gone.

A 10-year level term life policy is often recommended to take care of longer-term financial obligations you expect to tackle within the next decade, like paying off a mortgage or seeing your children through college. And since you’re locking in your coverage for 10 years up front, your rates are expected to remain level throughout your term—meaning your premium won’t go up due to aging or health changes. Premiums will increase as you reach higher age bands upon renewal.

Here are some highlights:

• Pay one rate for the length of the policy
• Apply for up to $2,000,000 of coverage for you and your spouse
• Reapply for another 10 or 20 years when your term is up,¹ or continue your coverage at conventional rates without a physical exam
• Portability, meaning you’ll retain your coverage even if you change jobs²
• Keep your coverage until age 75

How much coverage do I need?

Ideally, you should have 7–10 times your annual salary in coverage. Our recommendation errs on the conservative side as we want you to have an adequate amount of coverage at a member only rate. The specific amount of coverage you should purchase is up to you. But if you need assistance, we’re happy to help! Just call us at 800.650.2723, or select the option to send your portfolio to a representative and we’ll review your options with you.

¹Provided you are still eligible. If not, you can continue your coverage at conventional rates without a physical exam.

²If you pay your premium when due, maintain your ASCE membership, and the group policy remains in force.

Note: This monthly rate is based on your answers and a coverage amount of $100,000, which was determined based on the average of what other ASCE members have in place. You can adjust your coverage amount during the application process.

The ASCE Group Life Insurance Plans are underwritten by New York Life Insurance Company, 51 Madison Avenue, NY, NY 10010, under group policy GMR, Policy Numbers GMR-G-10500-1/FACE, GMR-G-29137-0/FACE, GMR-G-29253-0/FACE.

For more details, including features, costs, eligibility, renewability, limitations, and exclusions, see the product brochure on the New York Life application portal. A link to the brochure can be found on the product selection step per product.

1847434

Step 3: Review Your Coverage Details

Group 20-Year Level Term Life

Rest easy for two decades knowing your 20-year level term life insurance coverage will help provide for your family if you pass away.

A 20-year level term life policy is a good choice if you’re going to have large financial obligations for many years to come. These obligations could include things like raising children, buying a home, and taking care of elderly loved ones. And since you’re locking in your coverage for 20 years up front, your rates are expected to remain level throughout your term—meaning your premium won’t go up due to aging or health changes. Premiums will increase as you reach higher age bands upon renewal.

Here's the rundown:

• Pay one rate for the length of the policy
• Apply for up to $2,000,000 of coverage for you and your spouse
• Reapply for another 10 or 20 years when your term is up,¹ or continue your coverage at conventional rates without a physical exam
• Portability, meaning you’ll retain your coverage even if you change jobs²
• Keep your coverage until age 75

Step 3: Review Your Coverage Details

Group High-Limit Accident

This insurance coverage can help provide financial stability if you have a bad accident. After a tumultuous event like a severe injury, you should only have to focus on one thing-recovering.

Here's an overview:

• Your choice of $50,000 to $500,000 principal sum (in units of $50,000)
• Spouse and dependent children coverage available
• Benefits for repatriation, rehabilitation, seatbelt, and education

Step 3: Review Your Coverage Details

Group Disability Income

When we hear the word “disability,” we often think of tragic—but unlikely—accidents. The reality, however, is far different.

In fact, the top causes of disabilities* include:

• Cancer
• Joint pain
• Injuries
• Back disorders
• Cardiovascular disease

... just to name a few. But our disability income insurance can give you financial stability during a trying time so you can focus on recovering.

Here's what you need to know:

Choose a career plan (coverage up to age 65) or a five-year plan (only five years of coverage); Select a monthly benefit amount from $150 up to $8,550; Opt for a 30-, 90-,180- or 365-day waiting period (before benefits kick in); Premium payments waived while receiving Total Disability Benefits