The American College of Obstetricians and Gynecologists Group Insurance Program provides economical Term Life Insurance that helps secure a foundation and financial future for your loved ones. Term Life is a great option for individuals who have short-term financial obligations or young families on a tight budget, allowing you to help protect your loved ones at a fraction of the cost of other plans!
This product is not available in all states.
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.
The American College of Obstetricians and Gynecologists members and their lawful spouses under age 60 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.)
If you or your spouse are under age 75 and are diagnosed with a terminal illness with a life expectancy of 24 months or less, the terminal illness (accelerated) benefit would allow you to receive an advanced payment of up to 75% of your in-force life insurance amount not to exceed $200,000.
Coverage will begin on the first day of the month following the date your application is approved, provided the premium has been paid. Spouses and life fellows must be able to perform the normal duties of a person with like age and sex, with like occupational status on the date insurance is to take effect. If these conditions are not met, such insurance will take effect on the date the person resumes such normal activities.
Your ACOG Group Term Life Insurance will continue until you reach age 75 or earlier if: 1) the group policy ends; 2) insurance ends for your class; or 3) at the end of the period for which the last premium has been paid. On the July 1st coinciding or next following the date you reach age 75, or if your insurance ends for a reason other than non payment of premium, you may buy an individual life insurance policy from the company during the conversion period, without providing evidence of insurability.
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!
The College's Group Insurance Program is administered by Pearl Insurance. Pearl Insurance strives to provide College members with the most relevant, competitively priced member benefit insurance packages for individuals and their families. Pearl Insurance has been providing associations like The College with quality group coverage for nearly 55 years. Pearl Insurance license numbers: AR #0100106279, CA #0F76076, MN #8698, OK #0100102347, TX #1442641
ACOG Group Term Life Insurance is underwritten by New York Life Insurance Company, 51 Madison Ave., New York, NY 10010, under Group Policy No. G-30460-0 on Policy Form GMR-FACE/G-30460-0.
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.
Complete details, including features, costs, eligibility, renewability, limitations, and exclusions are in the Certificate of Insurance. Certain state restrictions apply.
New York Life's state of domicile is New York, and NAIC ID # is 66915.