The American College of Obstetricians and Gynecologists Group Insurance Program provides cost effective Group 10-Year Level Term Life Insurance that helps secure a foundation and financial future for your loved ones. Once you're approved for coverage, you won't have to worry about fluctuations in the economy or your age, health, or work situation. That's because with ACOG's Plan, your rates are expected, though not guaranteed, to not increase for the full initial 10‑year term.*
*The insurance companies reserve the right to change rates on a class wide basis.
The amount of coverage you should purchase will vary on your unique needs. To calculate the right amount, consider your household budget, current expenses (food, mortgage or rent, taxes, etc.), and future obligations (final expenses, education, etc.). Based on your total expenses, you can better determine how much coverage you will need to sustain your family’s current way of life. Our Life Insurance Needs Calculator can help you determine the right amount for you.
The American College of Obstetricians and Gynecologists members and their lawful spouses under age 60 and are residents of the U.S. or Canada (except for residents of Quebec) may apply.
If death is the result of suicide during the first two years of coverage, benefits are limited to return of premiums paid, plus interest. (Subject to state variations.)
During your lifetime, you or your spouse (if applying) can apply to collect an accelerated benefit up to 50% of coverage amount if you are diagnosed with a terminal illness from which you are not expected to recover (as defined in the group policy) and have a life expectancy of 24 months or less. The remaining balance of coverage is then paid to your beneficiary upon death. This Living Benefit can be used to help settle financial obligations or for any use as you see fit. You are eligible to apply for the Living Benefit if you are under age 70. Living Benefits are not payable if you made an absolute assignment of your life insurance under the group policy; the insurance company does not receive written consent by an irrevocable beneficiary; all or part of your life insurance is to be paid to your child(ren) or former spouse as part of a court approved divorce agreement; or the terminal illness is a result of intentionally self-inflicted injury or attempted suicide. Receipt of Living Benefits may be taxable. Please consult a tax advisor for specific details.
Insurance will take effect on the date your application is approved by New York Life Insurance Company, provided the initial premium contribution is paid within 31 days after the date you are billed (send no money now). Download the applicable brochure for more information.
Once insured, coverage will not be cancelled, as long as you continue to pay your premiums when due, are under age 70, and the group policy remains in force. After 10 years, if you are under age 60, you can apply for a new 10-year term period with rates based on your age and health status at that time. You can continue coverage up to age 70. If approved, this rate is expected, but not guaranteed, to remain the same for a new 10‑year period.
ACOG Group 10-Year Level Term Life Insurance is underwritten by New York Life Insurance Company (New York Life). This plan is underwritten by New York Life Insurance Company, under Group Policy No. G-10500-1, on Policy Form GMR-G-10300-1/FACE.
New York Life is a leader in the association group insurance field, providing life and health insurance plans for associations. The company has an enduring commitment to its customers' financial security. Regardless of the state of the economy or the stock market, New York Life bases its financial decisions on the guiding principle of serving its clients. New York Life Insurance Company has received the highest ratings for financial strength currently awarded to any U.S. life insurer by all four major rating agencies including Moody’s Investor Service (Aaa), Standard & Poor’s (AA+), Fitch Ratings (AAA), and A.M. Best (A++).*
New York Life is licensed/authorized to transact business in all 50 United States, the District of Columbia, Puerto Rico, and Canada. However, not all group plans it underwrites are available in all jurisdictions. Please check the applicable insurance brochures for current availability. New York Life's state of domicile is New York, and NAIC ID # is 66915.
For more details, including features, costs, eligibility, renewability, limitations, and exclusions, reference the Group 10-Year Level Term Life Insurance brochure and rates.
*Individual Third Party Ratings Reports (as of 9/12/19)
ACOG’s Group Insurance Program is administered by Pearl Insurance. Pearl Insurance strives to provide members with the most relevant, competitively priced member benefit insurance packages for individuals and their families. Pearl Insurance has been providing associations like ACOG with quality group coverage for over 65 years.
When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the plan. 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!
Apply online now for Group 10-Year Level Term Life Insurance.Apply Online Now!