Group 20-Year Level Term Life Insurance

This Group 20-Year Level Term Life Insurance provides life insurance coverage with a fixed premium and a fixed death benefit, guaranteed to remain level for 20 years, and a benefit amount that never goes down.

Your completed application will be reviewed. Upon underwriting approval you are assigned an underwriting class (‘Preferred,’ ‘Select’ or ‘Standard’) based upon the information provided with your application. If you meet the underwriting requirements but are a tobacco/nicotine user, you will automatically fall under the Standard rate category. Preferred rates are available for coverage amounts of $125,000 and above.

Click the “Learn More or Apply” button then either apply online or download and complete the application. Be sure to sign and date the application and mail it to our office at the address indicated. You may also contact AMBA at 1-888-560-ALUM (2586) for an application.

All coverage is subject to underwriting approval by New York Life. Coverage will take effect the date your application is approved by New York Life Insurance Company, as long as you are performing the normal activities of a person in good health of like age on that date, and you pay your premium in a timely manner – click “Learn More” for further details.

Note: Residents of NC: Any reference to “performing normal activities” is replaced by the requirement that the health status of any proposed insured person remains the same as stated in your application.

You may apply for coverage amounts from $50,000 up to $1,000,000, in $25,000 units.

Coverage is provided for death from any cause, except death from suicide for the first two years coverage is in effect, whether sane or insane. The benefit is limited to a return of premiums paid.

Note: Incontestability – Once your coverage has been in force for 2 years after your effective date your coverage is incontestable except for non-payment of premium.

You will have 30 days from the date of receipt to review the Certificate of Insurance. If you are not satisfied with the terms of the Certificate, simply return it to the Insurance Administrator without claim, and any premiums paid will be refunded in full.

Once accepted, this insurance will provide 20 years of dependable life insurance coverage, as long as premiums are paid when due and the group policy remains in force. At the end of your initial 20-year term, your coverage will automatically be renewed without having to submit any proof of insurability. Renewal premiums, however, are not guaranteed and will be based on your then attained age and will increase as you age.

To continue taking advantage of level rates, individuals under 55 may apply for a subsequent 20-year period of guaranteed level rates, based on their then attained age, health and nicotine use, subject to satisfactory evidence of insurability.

Coverage will end when the insured person reaches age 75 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 the member belongs, and (c) if the insured requests to terminate insurance. Upon your death, coverage for your insured dependents may continue as described in the Certificate of Insurance.

Alumni and their spouses under age 55 residing in the U.S. are eligible to apply. Coverage may not be available in all states. Call AMBA at 1-888-560-ALUM (2586) for details.

This policy is underwritten by New York Life Insurance Company, under Group Policy No. G-30942-0, on Policy Form G-30942-0 GMR-FACE.

New York Life is licensed/authorized to transact business in all of the 50 United States, the District of Columbia, Puerto Rico and Canada. However, not all group policies it underwrites are available in all jurisdictions. New York Life’s state of domicile is New York, and NAIC ID # is 66915.