How do I obtain coverage?

Guaranteed Acceptance:* Member coverage is available on a guaranteed basis up to your current annual salary (rounded to the next higher $1000) for you (the member) if purchased within 45 days of your employment start date.

If you are already covered under the plan and receive a promotion (salary grade change), you can increase your coverage on a guaranteed basis up to your new annual salary limited to a total increase of $50,000 within 60 days of the salary grade change.

*Examples can be found on the Apply Now page.

Evidence of Insurability: Can be supplied at any time for amounts in excess of the Guaranteed amounts and for Dependent Coverage.

How Much Coverage is available?

Members can apply for any amount of coverage from $25,000 to $300,000 for themselves and their spouse (spouse amount cannot exceed member amount). Children may be covered for $5,000 or $10,000 (coverage is limited to $500 from 14 days to 6 months). If your spouse is a member, he/she must obtain member coverage and children can only be covered by one parent.

When does coverage begin?

Once accepted, coverage becomes effective on the first day of the month on or after the date New York Life approves such insurance if your premium payment is received within 31 days of being billed.

What happens if I retire or resign from the Federal Government?

You may continue to participate in the program up to age 70 for you and your dependents (if they remain eligible) provided premiums are paid in a timely manner.

Who is my beneficiary?

Choose anyone you wish as your beneficiary. You may change your beneficiary at any time. You are the automatic beneficiary for dependent coverage. Dismemberment benefits are paid to you, the member.