Plan Overview
Since providing for your family and financial obligations is a high priority, we realize that you have a need for high limits of coverage and a guarantee of rates for specific time frames. Level Term Life is an inexpensive and reliable asset for estate planning, so we've researched the marketplace and selected several carriers for your Level Term Life needs.
Features of this plan includes:
- Coverage Amounts of $100,000 to $1,000,000 (and beyond)
- Non-Tobacco User Discount
- Requalification/Re-entry available after initial selected guarantee period
- Waiver of Premium
- Accelerated Death Benefit
- And much more!
Lock into these predictable rates for 10 years. Sign up today!
Underwritten by New York Life Insurance Company
Frequently Asked Questions
Who is this plan underwritten by?
The NSPE 10-Year Level Term Life Insurance Plan is underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010
under Group Policy No. G-29137-0
on Policy Form GMR-G-29137-0/FACE.
How much life insurance do I need?
Some insurance experts suggest that you purchase life insurance equal to five to nine times your current income. In addition, you should consider how much your dependents will need to maintain their lifestyle.
Who is eligible for this insurance?
NSPE members and their lawful spouses under age 65 may apply. Also, all unmarried dependent children ages 14 days through 22 years (24 if a full-time student). In order to become insured, satisfactory evidence of insurability must be provided and the required premium must be paid.
A dependent who is also an ASCE member is eligible for either member or dependent coverage, but not both. If both member and spouse are covered as members, neither may insure the other as spouse and only one may insure any eligible children.
How much insurance can I request?
- Members—$100,000 to $2,000,000 in $10,000 multiples.
- Spouse—$100,000 to $2,000,000 in $10,000 multiples, not to exceed 100% of member's coverage.
- Child(ren)—$10,000 per child.
Note: The total amount of coverage an individual may request under all group life insurance plans underwritten by New York Life Insurance Company may not exceed $2,000,000.
Are any discounts available?
Two discounts may be available:
- Volume Discount — If you or your spouse becomes insured for coverage amounts of $250,000 through $490,000, you'll receive a volume discount; and for amounts of $500,000 through $2,000,000 of coverage, you'll receive an even bigger discount.
- You May Pay Less If You're a Qualified Nonsmoker — Nonsmokers meeting the highest underwriting standards may qualify for the "Preferred" (the Plan's best) rates. Other nonsmokers may qualify for "Select" (higher, but still very competitive) or "Standard" (the Plan's highest) rates.