At a Glance

As an Alumni member in good standing, you can now qualify for the newest member benefit. Group Senior Term Life Insurance Plan is designed for members and their lawful spouses age 50 through age 79. The Senior Term Life plan offers coverage amounts between $10,000 to $100,000 (in $10,000 increments). With no medical exam typically required*, Group Senior Term Life plan is right for you.

• Member and Spouse Coverage: Alumni members in good standing and their lawful spouses ages 50 through 79 are eligible to apply for this coverage as long as they are able to perform the normal activities of a person of like age and sex, with like occupation or retired status on the date insurance is to take effect.
  
  Note: You don’t have to apply for coverage in order for your spouse to request life insurance.


• No Medical Exam Typically Required*: You are not required to take a physical or medical exam to be accepted into this plan. All it takes is satisfactorily answering, to the insurer, the questions on the application.
• Choice of Benefit Amounts: You and your spouse can select a life insurance amount from $10,000 to $100,000 (in increments of $10,000).
• Renewable until age 95: Coverage terminates at age 95. At age 80, coverage reduces to 50% of the life insurance amount in effect on the day before you attain age 80, or to $20,000, whichever is less
• Economical Group Rates: Compare the premiums for Group Senior Term Life Insurance Plan to similar term life plans on the market today. You’ll probably be surprised at how much life insurance you can afford.
• Send No Money Until You’re Approved
• Convenient Monthly Payment Option: A Preauthorized Check Payment Plan option offers a time–saving convenience.
• Portable Coverage: The Plan offers portable coverage that can follow you throughout your career. Make all the career changes you want and still be able to maintain this valuable insurance protection.
• Living Benefit ("Accelerated Death Benefit"): Enables you to apply for a portion of your benefits if you qualify as being terminally ill, subject to certain policy restrictions and limitations. These benefits are paid directly to you, and you may spend them any way you wish.

For detailed plan information, including eligibility, coverage levels, plan features, costs and provisions, check out the Tell Me More section (below).

How to Apply

Download your Group Senior Term Life Insurance Application and follow the instructions. Be sure to review the Plan Details. Remember, only eligible Alumni members may apply.

*Please Note: According to group policy (and the brochure link) amount available are $10,000 to $100,000 to members and spouses between ages 50-79.

*Issuance of Certificate of Insurance or payment of benefits may depend upon the answers given in the application and the truthfulness of those answers.

This plan is underwritten by The United States Life Insurance Company in the City of New York, NAIC No. 70106 domiciled in the state of New York with a principal place of business of 175 Water Street, New York, NY 10038. It is currently authorized to transact business in all states, plus DC, except PR.

Policies issued by The United States Life Insurance Company in the City of New York (US Life). Issuing company US Life is responsible for financial obligations of insurance products and is a member of American International Group, Inc. (AIG). Products may not be available in all states and product features may vary by state. Policy# G-200,367 Form# G-19000.

This summary is a brief description of benefits only and is subject to the terms, conditions, exclusions and limitations of the group policy.

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Eligibility

Alumni members in good standing and their lawful spouses ages 50 through 79 are eligible to apply for this coverage as long as they are able to perform the normal activities of a person of like age and sex, with like occupation or retired status on the date insurance is to take effect.

Apply For Up To $100,000 In Features.

Choose the amount of Group Senior Term Life Insurance you need to help protect you and your family.

Amounts Of Insurance:

• Members – $10,000 to $100,000 in $10,000 increments
• Spouse – $10,000 to $100,000 in $10,000 increments

Plan Features

No Medical Exam Typically Required*

You are not required to take a physical or medical exam to be accepted into this plan. All it takes is satisfactorily answering, to the insurer, the questions on the application.

*Issuance of Certificate of Insurance or payment of benefits may depend upon the answers given in the application and the truthfulness of those answers.

Choice of Benefit Amounts

You and your spouse can select a life insurance amount of $10,000 to $100,000 (in increments of $10,000).

Accelerated Death Benefit

This important plan option gives you the ability to collect part of your Alumni Group Senior Term Life Insurance benefits before your death if you are diagnosed with a terminal illness with a life expectancy of six months or less and not expected to recover. Under this provision, you may request an advance payment equal to 60% (or $60,000, whichever is less) of your (or your insured spouse's) current life insurance coverage, less a discount, as explained in your certificate of insurance. Residents of Connecticut must be under age 70 to be eligible for this benefit.

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 United States Life with proof of terminal illness as well as any other necessary medical information requested.

The remaining benefit then becomes payable to your beneficiary after your death. Accelerated benefits are not payable if you have made an absolute assignment of your life insurance under the group policy; all or part of life insurance under the group is to be paid to your child(ren) or former spouse as part of a court approved divorce agreement; the insurance company does not receive written consent by any irrevocable beneficiary; or the terminal illness is a result of intentional self-inflicted injury or attempted suicide. Receipt of accelerated benefits may be taxable. Consult your personal tax advisor for specific details. For additional details and limitations, please see the Certificate of Insurance.

Keep Your Cost Manageable

Four modes of payment are available to suit your budget: quarterly billing, semiannual billing or annual billing; and our Monthly Pre–Authorized Check Payment Plan.

Your Cost

TO COMPUTE YOUR PREMIUM - multiply the cost for your age group by the number of units you desire (up to a maximum of 10 units or $100,000). For example, $50,000 for a female at age 65, multiply $28.40 by 5 units = $142.00. This will be your quarterly rate.
 

Premiums are based on applicant's age when insurance becomes effective and at attained age on renewal dates. You can never be singled out for a rate increase; premiums may be increased only on a class-wide basis.

If applicable, an additional $2 billing fee will be included on your billing notice payable to the administrator. To save the fee, select Electronic Funds Transfer (EFT) as a safe and secure payment option.

*For renewal only. At age 80, coverage reduces to 50% of the life insurance amount in effect on the day before you attain age 80, or to $20,000, whichever is less.

Send No Money Now!

All you need to do is return the completed application. You will be billed for the appropriate premium upon approval of your application.

Exclusions

You’re covered 365 days a year, wherever you are.

If a covered person commits suicide within 2 years from the date his insurance takes effect, United States Life's liability will be limited to the premiums paid, plus interest. If a person's age, sex or any other data is misstated, the correct data will be used to determine if insurance is in force. If insurance is in force, the premium and/or benefits will be adjusted according to the facts.

You Name Your Beneficiary

You and your spouse, if applying, may name anyone you wish as the beneficiary of this plan, and you may change the beneficiary by contacting the Insurance Administrator in writing and advising them of the change.

You may also choose to name a beneficiary that you cannot change without his or her consent. This is an irrevocable beneficiary.

Additional Plan Provisions

Effective Date

Your or your spouse’s insurance will become effective on the first day of the month coinciding with or next following the date United States Life approves the request provided the required premium paid. You and your spouse, if applying, must be able to perform the normal activities of a person of like age and sex; with the occupation or retired status on the date insurance is to take effect. If not, such insurance will take effect on the day you resume such activities.

When Coverage Ends

As long as you are under age 95, pay your premium when due, and the group policy remains in force, you can keep your coverage. Your insurance stops on the earliest of the following dates:

• the date the group policy ends;
• the end of the period for which the last premium has been paid for you
• the premium due date coinciding with or next following the date you attain age 95.

Renewal Payments And Claims

Once you are accepted into the Plan, you will have a 31–day grace period for your payment of renewal premium contributions. When you want to submit a claim, call or write the Administrator for claim forms.

Certificate Of Insurance

This information is only a brief description of the principal provisions and features of the Plan. The complete terms and conditions are set forth in the group policy issued by United States Life. Coverage may vary or may not be available in all states.

When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the Group Policy.

30–Day Free Look

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!

(MIB) Disclosure Notice

(Retain for your records)

Information regarding your insurability will be treated as confidential. The United States Life Insurance Company in the City of New York, or its reinsurers may, however, make a brief report theron to the MIB Inc., formerly known as Medical Information Bureau a not-for-profit membership organization of insurance companies, which operates an information exchange on behalf of its Members. If you apply to another MIB Member company for life or health insurance coverage, or a claim for benefits is submitted to such a company, MIB, upon request, will supply such company with the information in its file.

Upon receipt of a request from you MIB will arrange disclosure of any information it may have in your file. Please contact MIB at 866-692-6901. If you question the accuracy of information in MIB's file, you may contact MIB and seek a correction in accordance with the procedures set forth in the federal Fair Credit Reporting Act. The address of MIB's information office is 50 Braintree Hill Park, Suite 400, Braintree, MA 02184-8734

The United States Life Insurance Company in the City of New York, or its reinsurers, may also release information in its file to other insurance companies to whom you may apply for life or health insurance, or to whom a claim for benefits may be submitted. Information for consumers about MIB may be obtained on its website at www.mib.com.

This plan is underwritten by The United States Life Insurance Company in the City of New York, NAIC No. 70106 domiciled in the state of New York with a principal place of business of 175 Water Street, New York, NY 10038. It is currently authorized to transact business in all states, plus DC, except PR.

Policies issued by The United States Life Insurance Company in the City of New York (US Life). Issuing company US Life is responsible for financial obligation of insurance products and is a member of American International Group, Inc. (AIG). Products may not be available in all states and product features may vary by State. Policy# G-200, 367 Form# G-19000.

This Summary is a brief description of benefits only and is subject to the terms, conditions, exclusions and limitations of the group policy.

Answers about the program, including eligibility, options, customer service and more.

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