Group Whole Life 1-877-VIP-CSEA Valuable Insurance Programs Sponsored by Administered by
Important Benefits for CSEA members The Civil Service Employees Association (CSEA) is committed to providing its members with the highest quality insurance products. With this in mind, CSEA features a Group Whole Life Insurance Policy that can be tailored to help you meet your specific insurance needs. CSEA Group Whole Life is a level premium whole life insurance plan that builds cash value and it s now available to CSEA members and their families. Sponsored by Administered by Plan Highlights Your choice of up to $100,000 coverage for member & spouse. Optional Accidental Death Benefit can provide another layer of protection with an additional lump sum benefit equal to your whole life insurance amount! Convenient Payroll Deducted Premium Payments! Unisex Rates guarantee equal premium rates regardless of sex! Waiver of Premium if you re totally disabled, based on the criteria defined in the policy! Portable Coverage keeps you insured even if you leave public service! Accelerated Death Benefit offers a one-time lump sum benefit if you suffer a terminal illness and meet the plan s criteria! Valuable Loan Option allows you to take out cash loans with this plan! Money-Saving discounts for qualified non-smokers! Who is Eligible Members This plan is available to all CSEA members under age 65. Spouses Members may also request coverage for their lawful spouses* under age 65. * References to Spouse include Domestic Partner. Members requesting coverage for a Domestic Partner must also complete a Declaration of Domestic Partnership. Contact Pearl Carroll & Associates for details.
Children Members may also request coverage for each of their unmarried children age 15 days thru 24 years. Spouses and children who are CSEA members must apply for member coverage. If both parents are insured as CSEA members, only one may request coverage for their eligible children. Coverage Amounts Available Members may choose coverage amounts from $10,000 up to $100,000 (in $10,000 units). Note: There is an Aggregate maximum of $100,000 per member and spouse under all plans. The plan also allows members to include a very important part of their family team their spouses. It doesn t matter if your spouse is employed somewhere else or not at all...their need for life insurance can be just as important as yours. You may request spouse coverage as long as the spouse s coverage amount (based on his/her age and smoking status) does not exceed your coverage amount. Children need coverage too! With this plan you may also obtain up to $20,000 in units of $4,000 of coverage for each of your eligible children. Since premiums are based on the age of the child at issue, the cost to you will be considerably lower than that charged for you or your spouse. Child s coverage amount may not exceed the members amount. COVERAGE AMOUNTS AVAILABLE: MEMBER AND *SPOUSE $10,000 $50,000 $80,000 $20,000 $60,000 $90,000 $30,000 $70,000 $100,000 $40,000 * Please note: Spouse coverage may not exceed member coverage. Please contact your authorized Pearl Carroll & Associates LLC Representative for a Personal Plan Quotation with Amounts of Coverage detailing Biweekly Premium Rates, Cash Values and Paid-Up Insurance Amounts for the Plan you have selected. Living Benefit/ Accelerated Death Benefit Option This is a special feature for members, spouses, and children. If the insured is diagnosed with a terminal condition that results in an expected life span of 12 months or less, an Accelerated Death Benefit of 50% of the insured s whole life insurance amount may be paid. Diagnosis and evaluation of the limited life expectancy must be provided to New York Life. The benefit is paid upon approval of the claim. Premiums would continue to be payable in full and the Accelerated Death Benefit will also be reduced by 1/2 of any outstanding policy loan that is in effect when the benefit is payable. Upon the death of the insured, the amount of the insurance then payable will be reduced by the amount of the Accelerated Death Benefit paid. Please note that receipt of Accelerated Death Benefits may affect eligibility for public assistance programs and may be taxable. Prior to applying for accelerated death benefits, you should consult with the appropriate social services agency, and assistance should be sought from a qualified personal tax advisor. Waiver of Premium If you, the member, become totally disabled while insured and before age 60, and the disability lasts at least 6 months, your coverage, including any dependent coverage which you may then have in force, will be continued at no cost to you as long as you remain totally disabled. Total Disability is defined as one which is due to an accident or illness and which completely and continuously prevents you from performing the material and substantial duties of any occupation for which you are reasonably qualified. Periodic evidence of your continued total disability will be required during the period your premiums are being waived.
Beneficiary You may choose anyone you wish as the beneficiary for coverage on your life. You may also change your beneficiary at any time by written request. You are automatically the beneficiary for your dependents coverage unless you designate otherwise. Broad Benefits Only One Exclusion Benefits are payable for death due to any cause while insured. In case of death due to suicide within 12 months of the effective date, benefits are limited to a return of the premium paid. Incontestability The validity of any amount of your insurance which has been in force for two years during your lifetime will not be contested, except for insurance eligibility provisions or non-payment of premium contributions. Cash Values After the first few years, CSEA s Group Whole Life has increasing cash surrender values. If coverage is terminated after cash value has accrued, it may be surrendered for its cash value or may be exchanged for an amount of paid-up insurance. The reduced paid-up insurance continues to build a cash surrender value. Loans Cash loans at current interest rates may be requested through Pearl Carroll & Associates LLC, the Plan Administrator s office, once cash values are available. The death benefit will be reduced by the amount of any unpaid loan, plus any interest-to-date. If the interest isn t paid at the end of each calendar year, it is applied to the loan balance. If the loan plus interest exceeds the cash value, the insurance will terminate. Complete details are in your Certificate. Reduced Paid-up Insurance This is an amount of life insurance for which you can surrender your Group Whole Life Insurance and on which no further premiums are required to keep it in force. Complete details are in your Certificate. Optional Accidental Death Benefit This optional benefit is available to CSEA Members in an amount equal to their Whole Life coverage amount. CSEA Members who elect this coverage may also add it to any Spouse Whole Life coverage that they are applying for. Benefits are payable for death which occurs while insured as a result of a covered accident. Accidental Death Benefit Exclusions Benefits are not provided for death due to an accident that is incurred while not insured nor are benefits provided for accidental death due to: war; suicide or intentionally self-inflicted injury; treatment for sickness or disease, or, its medical or surgical treatment; illegal use of drugs or the use of alcohol; air travel, unless riding solely as a passenger; or due to the commission of a felony or assault; an illegal occupation or activity; insurrection, terrorist activity or riot. Guaranteed Level Premiums The CSEA Group Whole Life Plan features premiums based on your age and smoking status upon entry into the plan. These rates and your coverage amount remain level for as long as you keep the coverage in force... for life. Please contact your authorized Pearl Carroll & Associates LLC Representative for your Personal Plan Quotation with Amounts of Coverage, Cash Values, and Paid Up Insurance Amounts for the plan you have selected.
Lifetime Coverage Neither New York Life nor CSEA has the right to cancel the Group Policy. Your coverage may be continued regardless of your age, for as long as you live provided you pay your premium in a timely manner. Individual Certificate This brochure outlines the principal provisions of the CSEA Group Whole Life Plan and Optional Accidental Death Benefit. Complete details are in Group Policy G- 11590 (Policy Form GMR) issued to CSEA at its headquarters in Albany, NY by New York Life. Each insured Member, spouse and child will be issued a Certificate of Insurance detailing their coverage under the Plan. What if I Have Other Whole Life Insurance in Force? The CSEA sponsored Group Whole Life Plan can provide you with solid protection at a reasonable premium. However, it may not be to your advantage to replace your current coverage. If you are thinking of replacing your current policy with this plan be sure to get the full facts...contact your Insurance Agent or personal financial advisor BEFORE canceling your current policy. Effective Date of Coverage All coverage is subject to underwriting approval by New York Life. Coverage will take effect on the date approved provided the premium has been paid. You and your dependents (if also applying for coverage) must be performing their normal activities on the date the premium is paid. All premiums are paid thru payroll deduction (where available) quarterly premium billing is available upon request. Automatic monthly checking withdrawal is also available. Important Notice for All Applicants How New York Life underwrites your Request for Coverage: Information regarding insurability will be treated as confidential. In considering whether the persons in your request for insurance qualify for coverage, we will rely only on the information we may ask you to obtain from a doctor, hospital, etc. New York Life will not disclose such information to anyone unless you authorize it or where required by law. This information may be seen by New York Life and Plan Administrator employees, but only on a need to know basis in considering your request. Upon receipt of all requested information, we will make a determination as to whether your request for insurance can be approved. If we cannot provide the coverage you requested, we will tell you why. If you feel our information is inaccurate, you will be given a chance to correct or complete the information in our files. Although we cannot provide you with any medical information in our files, we will, upon written request, provide such information to a physician you designate. If we can provide the coverage you requested, we will inform you as to when such coverage will be effective. Under no circumstances will coverage be effective prior to this date. Answers to Frequently Asked Questions about CSEA Group Whole Life Insurance 1. What are the advantages of CSEA Group Whole Life? The premium payment will remain the same for your entire life. The plan builds cash value. Convenience of payroll deducted premiums. 2. Can I buy this plan only through CSEA? YES! This plan is only available to you through your membership in CSEA, which sponsors CSEA Group Whole Life as a membership benefit. The plan is portable, so you ll remain covered even if you leave Civil Service.
to the Health Statement Questions on the Application Form. For further information, call Pearl Carroll & Associates LLCs toll free customer service line at 1-877-847-2732, Monday through Friday, 8 am - 4:30 pm. 3. What happens if I stop paying premium? If you discontinue your premium payments and your insurance has been in place long enough to accumulate Cash Value, you can either take a Reduced Paid Up Policy for life or surrender it for its Cash Value. Otherwise your coverage ends. 4. Does this plan affect any other CSEA- sponsored life insurance I may have in force? NO! This Whole Life plan supplements any other CSEA life insurance you may presently have. 5. What happens to the insurance if I become disabled and can t work? If you become totally disabled as specified in the contract, then you and your dependent s premiums will be waived. You must notify the plan administrator to request this benefit. 6. If I select one of the plans now, will the premium payment remain the same in the future? YES! Once the plan you select is issued by New York Life, the premiums can never be increased. Important Notes Regarding Whole Life Premium Rates and Values: Premiums available through the convenience of payroll deduction. Coverage amounts and premiums are level based upon your attained age and smoking status at issue. Cash values and paid up amounts shown are at age 65 complete table of cash values and paid up amounts for your coverage amount will be included in your certificate of insurance. Accidental death benefit option for member and spouse for a small additional premium as shown. Child coverage is available for your eligible children premium shown is for each child. Underwritten by: New York Life Insurance Company 51 Madison Avenue New York, NY 10010 The Company You Keep 7. Can I continue this life insurance if I am no longer a CSEA member? YES! 8. Can I apply for this plan without having a physical examination? YES! The underwriting decision for most applicants will be based upon your answers Sponsored by Administered by
Your Insurance Service Team is now: Pearl Carroll & Associates LLC 12 Cornell Road, Latham, NY 12110 1-877-VIP-CSEA 1-877-847-2732 Underwritten by: New York Life Insurance Company 51 Madison Avenue New York, NY 10010 The Company You Keep Policy Form GMR Plan Sponsored by: #:080181 Rev. 6/08