A term life insurance policy can give you added peace of mind knowing that you are helping protect your family from serious financial burdens in the event of your death. New members are eligible to receive $60,000 of group term life insurance at no cost for one full year. The premium for this coverage is paid by the Trust for Insuring Educators (TIE) on behalf of your professional association.
Features
- Guaranteed coverage, regardless of health status, for members who meet the eligibility requirements shown below
- Policy pays benefits in addition to other insurance you may have
- You can choose to continue the coverage beyond the one-year, no-cost period regardless of changes in your health, as long as you pay premiums when due
- Additional coverage available up to $1,000,000 at TIE group rates
- Rates are applied in five-year age bands and are the same for both genders
Eligibility
New members of associations affiliated with the Trust for Insuring Educators (TIE) are eligible for coverage if they are: U.S. residents (except NV, OR, SD, VT); are age 18 to 59 on the policy issue date, which is the first day of the month following receipt and approval of their application by New York Life Insurance Company; are not a current or past policyholder of a TIE group term life insurance policy; and have not applied in the past and been turned down for a TIE group term life policy.
A member’s spouse(1) is eligible to apply for insurance coverage when the member applies for paid insurance (in addition to the $60,000 no-cost coverage). A spouse’s coverage cannot exceed the member’s paid coverage by more than one unit ($20,000). Premiums for the spouse are based on the member’s age when coverage becomes effective. A member’s unmarried, dependent children ages 14 days to 21 years (23 years if a full-time student) can be insured for up to $12,000 each when the member purchases additional insurance. Call Customer Service at (800) 821-7303 to request a Spouse & Dependent Insurance Application for the TIE Term Life Policy.
(1) Some states define eligibility to include domestic partner. Contact the Group Insurance Administrator for a Declaration of Domestic Partnership form.
Accelerated Death Benefit
If you or your spouse has been diagnosed with a terminal condition that results in an expected life span of 12 months(2) or less, the Accelerated Death Benefit will pay up to 50% of the insured’s term life amount. Diagnosis and evaluation of limited life expectancy must be provided to New York Life Insurance Company. The benefit will be paid to the insured member upon acceptance of the claim. Upon the death of the insured, the amount of insurance then payable will be reduced by the amount paid under the Accelerated Death Benefit.
(2) In Illinois, 24 months
Please note that receipt of accelerated death benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying for such benefits you should consult with the appropriate social service agency and seek the advice of tax counsel.
Waiver of Premium Benefit
If you become totally disabled while insured and before age 60, and the disability lasts for at least nine months, your coverage will continue with no premium due. The policy premiums will be waived as long as you are disabled. Your amount of coverage will be subject to the age-related decreases shown on the rate table. Evidence of continued disability is required periodically.
Effective Date
Coverage becomes effective on the first day of the month following receipt and approval of your application by New York Life Insurance Company.
When Coverage Ends
This no-cost coverage ends 12 months from the effective date unless you authorize renewal and pay the premium as billed. You will receive renewal information at least 30 days before the no-cost coverage period ends. If you choose to renew, your coverage will continue as long as you pay premiums when due and the group policy is not terminated by New York Life or the Trust for Insuring Educators.
Limitations
In the event of your death by suicide during the first 24 months of coverage (Missouri and North Dakota residents, 12 months), benefits are limited to a refund of premiums paid.
Current Quarterly Rates
| For Member and Spouse as of January 2025 |
| Member’s Age | Non-Smoker Rate | Smoker Rate | Unit of Coverage |
| Under 25 | $1.80 | $2.25 | $20,000 |
| 25-29 | $1.86 | $2.33 | $20,000 |
| 30-34 | $2.85 | $3.56 | $20,000 |
| 35-39 | $4.20 | $5.25 | $20,000 |
| 40-44 | $5.85 | $7.31 | $20,000 |
| 45-49 | $8.25 | $10.31 | $20,000 |
| 50-54 | $14.25 | $17.81 | $20,000 |
| 55-59 | $24.38 | $30.48 | $20,000 |
| 60-64 | $42.50 | $53.75 | $20,000(4) |
| 65-69 | $42.50 | $53.75 | $13,350(4) |
| 70-74(3) | $78.38 | $100.00 | $7,600(4) |
| 75-79(3) | $93.75 | $118.75 | $5,000(4) |
(3) Rates for renewal only. The policy is closed to new applicants age 69 and older.
(4) An Automatic Reduction of Coverage is effective for age bands beginning at 65, 70 and 75. Premiums do not reduce.
Underwriter and Administrator
This program is underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010, using policy form GMR-FACE-G6300.
The program is administered by Forrest T. Jones & Company, 3130 Broadway, Kansas City, MO 64111-2406. For Arizona residents, the program is administered by Forrest T. Jones Consulting Company.
The information on this website is provided for informational purposes.
All conditions of coverage, terms, limitations and exclusions are defined and provided in the group policies issued to Trust for Insuring Educators.
