When will my coverage become effective?

Insurance on you and your dependents will take effect on the first of the month on or following the date your coverage is approved by New York Life, provided the initial premium is paid to the plan administrator within 31 days. For insurance to take effect, you and any approved dependents must be performing the normal activities of a person in good health of like age (or with respect to NC residents, actively performing the normal activities of a person of like age) on the date of approval. Dependent children must be at least 14 days old and not hospital contained before insurance can become effective.

When will my coverage end?

Coverage will end when the insured person reaches age 75 (19 or 25, if a full-time student for dependent children) or earlier if (1) You fail to make payment of premiums; (2) You request for such insurance to end; (3) If the Group policy is terminated. In addition, dependent child coverage will terminate when the child ceases to be an eligible dependent.

How often are premiums renewed?

Premiums are guaranteed for an initial 10-year period. At the end of the 10-year period, coverage will automatically renew without evidence of insurability. Renewal premiums are not guaranteed and will be based on your then attained age and will increase as you age. However, if you are under age 65 you may apply for a subsequent 10-year period at a guaranteed level rate based on your then attained age, subject to submission of satisfactory medical evidence.