Retiree Group Level Term Life
Help Secure Your Loved One's Tomorrow
AN EASY WAY TO HELP ADD A FINANCIAL SAFETY NET FOR YOUR LOVED ONES
Your death may cause your family financial hardship in a time of great emotional loss. While this is hardly a pleasant thought, it could become a real situation. Life insurance is one way to help plan for the unexpected and help protect your family.
With the rising cost of funeral expenses and settling of debts, such as credit card balances, mortgages and car loans; an unexpected death could leave your family with unexpected bills.
- Offers life insurance for now and your future
- Calpers-deducted premiums for CSEA members
- Up to $20,000 of coverage
- Benefits will never decrease
- Spouse coverage available for $5,000 in coverage*
- Full medical writing waved – Guaranteed Issue
- Pay the same premium for the life of your coverage regardless of your age or health
- Premiums are due until age 100 then you have paid up coverage
YOU NAME YOUR BENEFICIARY
You may select any person, persons, trust or other legal entity as your beneficiary. If, at the time of your death, there are no surviving beneficiaries, benefits will be paid to the executor or administrator of your estate, or at the option of New York Life, to the surviving relatives in the following order of survival: spouse; children equally; parents equally; or brothers and sisters equally.
LIMITED BENEFIT PERIOD
Death from natural causes during the first two years of coverage pays just a portion of the benefit amount. During this period, your beneficiary receives an amount equal to 110% of the premiums paid. Full benefits will be paid for accidental death from the first day of coverage.
*Spouse is eligible for dependent insurance if they are NOT a CSEA member. If spouse is a CSEA member, please submit a separate application.
Underwritten by New York Life Insurance Company.
All CSEA Retirees, between ages 40 to 80 applying for coverage are guaranteed acceptance!
This voluntary coverage can be applied for in amounts of $10,000 or $20,000. A spouse, who is not a CSEA member, can be covered as a dependent for $5,000 in coverage. If your spouse is also a CSEA member, they must apply separately.
You are guaranteed acceptance to continue with coverage without having to answer a single health question.
Once proof of a member’s death has been received, New York Life will pay a benefit for a covered member’s death after first two certificate years. A designated beneficiary will receive a single payment equal the amount of coverage the member had at the time of their death if the death is an accidental death.
LIMITED BENEFIT PERIOD
Death from natural causes during the first two years of coverage pays just a portion of the benefit amount. During this period, your beneficiary receives an amount equal to 110% of the premiums paid. Full benefits will be paid for accidental death from first day of coverage.
YOU CAN’T BE CANCELED BECAUSE OF AGE OR HEALTH
Once you are approved for the CSEA Retiree Group Level Term Life between the ages of 40 and age 80, your coverage will continue to renew until you reach age 100. It cannot be canceled because of your age or any changes in your health.
2022-2023 CURRENT MONTHLY PREMIUM RATES
Check out these calper-deducted premiums.
As a retired CSEA member, you qualify for member exclusive rates for Retiree Group Level Term Life Insurance. The younger you are when this protection begins, the lower your rate will be for as long as you remain insured.
You cannot be singled out for an individual rate increase. Your rates may change if they are changed for all others in the same class.
Retiree Benefit Amount Rate Chart*: View Rate Chart
Spouse Benefit Amount Rate Chart**: View Rate Chart
*Your ‘issue’ age is age nearest birthday on the November 1 prior to the effective date of coverage.
**Spouse rates are determined on member’s issued age. Rates shown are for illustrative purposes and may vary due to rounding.
DOES MY COVERAGE UNDER THE GROUP POLICY HAVE CASH VALUE?
HOW ARE BENEFITS PAID?
AN ACCIDENTAL DEATH BENEFIT PAYOUT FOR THE FIRST TWO CERTIFICATE YEARS
Death from natural causes during the first two years of coverage pays just a portion of the benefit amount. During this period, your beneficiary received an amount equal to 110% of the premiums paid. Full benefits will be paid for accidental death from first day of coverage.
ARE THERE ANY LIMITATIONS OR EXCLUSIONS?
There is a limited benefit: Death from natural causes during the first two years of coverage pays just a portion of the benefit amount. During this period, your beneficiary receives an amount equal to 110% of the premiums paid. Full benefits will be paid for accidental death from first day of coverage.
The following losses are excluded:
Air Travel – A loss that occurs during or is a direct result of the INSURED MEMBER’S travel in, travel on, fall from, or descent from any aircraft while such aircraft is in flight, unless the INSURED MEMBER is traveling solely as a passenger.
Crime/Illegal Occupation/Illegal Activity – A loss that: (a) occurs during; (b) is due to; or (c) is related to; the INSURED MEMBER’S active participation in or incarceration resulting from any of the following in a role other than as a victim: (a) the commission of a felony; (b) an illegal occupation or activity; (c) an insurrection; or (d) a riot.
Disease/Infirmity – A loss that is due to or related to: (a) disease or bodily infirmity of mind or body; (b) medical or surgical treatment of such disease or bodily infirmity; or (c) bacterial infections, except infections which occur as the result of an: (1) accidental cut or wound; or (2) accidental ingestion of contaminated material.
Drugs – A loss that: (a) occurs during; (b) is due to; or (c) is related to; the INSURED MEMBER’S: (1) use of drugs, intoxicants, narcotics, barbiturates, or hallucinogenic agents, unless such use is as prescribed by a doctor or accidentally administered; or (2) legal intoxication.
Military Service – A loss that: (a) occurs during; (b) is due to; or (c) is related to; the INSURED MEMBER’S duty in the military, naval, or air services of any country.
Self-Inflicted Injury/Suicide – A loss that: (a) is due to or is related to: (1) suicide; (2) an attempt at suicide; or (3) an intentionally self-inflicted injury; (b) occurs during an attempt at suicide; or (c) occurs while intentionally
injuring oneself; while the INSURED MEMBER is sane or insane.
Treatment – A loss that: (a) occurs during; (b) is due to; or (c) is related to; any medical, dental, or surgical treatment unrelated to the accident which would otherwise entitle the INSURED MEMBER to benefits.
War Conditions – A loss that: (a) occurs during; (b) is due to; or (c) is related to; the INSURED MEMBER ‘S engagement in any of the following in a role other than as a victim: (a) in war, (b) an act of war, or (c) an armed conflict which involves the armed forces of one or more countries.
For The Benefit To Be Paid For a Covered Loss: (a) New York Life must receive satisfactory proof of the INSURED MEMBER ‘S loss within 90 days after such loss. If it is not possible to give proof within such 90 day period, it must be given as soon as reasonably possible; and (b) it must be determined that the loss is a Covered Loss.
WHEN DOES MY COVERAGE END?
Your premiums are due until you reach age 100. After that the policy is a paid up policy and your coverage is enforced.
This Level Term Life coverage ends automatically on the earliest of the following: 1) The date the policy is terminated; 2) The premium due date after the Member is no longer a member of the Policyholder (CSEA); 3) the date the grace period ends if all premiums due have not been paid.
Spouse coverage will automatically end on the earliest of the following: 1) the date the member coverage terminates; 2) the premium due date after the spouse ceases to be an eligible dependent.
CAN I REQUEST COVERAGE FOR MY SPOUSE?
By applying for coverage, your spouse is eligible for dependent coverage and can apply for coverage amount of $5,000. Your spouse must reside in the United States and be between the ages of 40-80 to apply. As long as you are insured under this coverage your spouse is eligible for guaranteed issue coverage.
Note if your spouse is also a CSEA member, they would not be eligible for dependent coverage and must apply separately.
WHAT IF I CHANGE MY MIND AFTER I APPLY?
You are under no risk or obligation. Once you enroll and are approved for coverage, you will be sent a Certificate of Insurance, including complete benefits and terms of the plan. Look this information over. Then decide if you want it as ongoing protection for you and your family. If the insurance is not what you had in mind, then you may cancel within 30 days of receiving your Certificate of Insurance and your premiums will be promptly refunded and your coverage invalidated, provided there have been no claims.
Effective Date of Coverage
Insurance will take effect on the date your application is approved by New York Life Insurance Company provided the initial contribution has been paid.
If you decide your Endorsed CSEA Retiree Level Group Term Insurance isn’t for you, just let us know within the first 30 days. We’ll promptly refund your premiums and invalidate your coverage provided there have been no claims … no questions. No obligation.
When Coverage Ends
Your coverage will end when premiums are not paid when due, or you elect to end such coverage. Your spouse’s coverage will end when your coverage ends when he/she ceases to be your lawful married spouse.
You can name any beneficiary you wish for member coverage. You may change this beneficiary at any time, by written request. Your beneficiary is the person(s) last designated by you in writing, and recorded by or on behalf of New York Life Insurance Company. You are the automatic beneficiary for dependent insurance, as described in the Certificate of Insurance. If you wish to name another beneficiary for dependent spouse or child insurance, contact the administrator at +1-800-296-2732 for the applicable form.
CONTRIBUTIONS are due until the COVERED PERSON reaches AGE 100. After AGE 100, no more CONTRIBUTIONS are due for the initial amount of insurance. The initial amount of insurance is then considered paid up. It is payable to the beneficiary when we have proof that the COVERED PERSON died while this paid-up insurance was in effect.
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. Payment of a premium contribution with your application does not mean that there is any insurance in force before the effective date as determined by New York Life.
Endorsed by: California State Employees Association
CSEA incurs certain administrative expenses in connection with this sponsored program. To provide and maintain this valuable membership benefit it is reimbursed for such expenses.
California State Employees Association
Administered by A.G.I.A., Inc.
PO Box 9997
Phoenix, AZ 85068-0997
A.G.I.A, Inc. is licensed and authorized to transact business in all 50 United States and the District of Columbia. Their state of domicile is California. J. Christopher Burke California Insurance License #0F70947. J. Christopher Burke AR Insurance License #8876308.
This Retiree Level Group Term Life Insurance is underwritten by:
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
NEW YORK LIFE and the NEW YORK LIFE Box Logo are trademarks of New York Life Insurance Company.
Under Group Policy G-30382-1 on policy form GMR-FACE/G-30382-1.
New York Life is licensed/authorized to transact business in all of the 50 United States, District of Columbia, Puerto Rico and Canada. However, not all group plans it underwrites are available in all jurisdictions. Please check the plan details for current availability.
New York Life Insurance Company’s state of domicile is New York and their NAIC ID# is 55915.
This is not a policy or Certificate of Insurance. It merely summarizes the benefits available and is for informational purposes only. The complete terms and provisions of coverage and conditions under which it may be kept in force are contained in the Group Master Policy issued by New York Life Insurance to the California State Employees Association.
RETIREE LEVEL GROUP TERM LIFE VS. TERM LIFE BENEFITS.
WHAT’S BEST FOR ME?
Retiree Level Group Term Life Insurance is coverage for a particular term or period of time that pays a fixed amount of money if the insured dies during the term of the policy. The premiums are based on your age when coverage begins. Your rate may change only if the rates for the entire group are changed. However, the policies do not build up cash value like whole life insurance.
The CSEA Group TermPLUS Life Insurance offers you quality term life coverage and works best if you need life insurance protection during your working years.