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:
- 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.
- 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.
- 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|
*Individual independent rating agency commentary as of 8/9/16
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 as of September 2016
FREQUENTLY ASKED QUESTIONS
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.)
|$50,000 - 1,000,000|
|50,000 - 500,000|
|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.
|$100,000||$ 5.40||$ 5.40||$ 5.40|
|Premiums as of September 2016|
- 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.
- Semiannual bills payable by check. Semiannual premiums are six times monthly premiums. A fee of $6, subject to change, is added to each bill.
- 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.