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Details on Underwriting & Confidential Information Information concerning your insurability will be treated as confidential- When considering whether you and the persons named in your request for insurance qualify for coverage, we will rely only on the medical information you provide and on the information you authorize us to obtain from your doctor, other medical and facilities, and other insurance companies to which you have applied for insurance. New York Life will not disclose such information to anyone unless you authorize it, or where required or permitted by law. This information may be seen by New York Life and Group Policyholder (USBA) employees, but only on a need-to-know basis in considering your request for coverage. Upon receipt of all requested information, we will make a determination as to whether your request for insurance can be approved. All coverage is subject to underwriting approval by New York Life. Effective Date of Coverage: If we can provide the coverage you requested, it will take effect on the approval date specified, provided the premium has been paid. You must also be performing your normal activities on the date of approval. Dependent children insured under Children’s Coverage must not be hospital-confined on the date of approval. Payment of premium does not mean coverage is in force before the effective date specified by New York Life. If we can’t provide the coverage you request - we will tell you why we can’t. If you feel our information is inaccurate, you will be given a chance to correct or complete the information in our files. Generally, upon written request, medical record information will be given either to the proposed insured or to a medical professional designated by the insured. Other Plan Provisions All coverage is provided under a group term life insurance policy. Your Coverage will continue to be underwritten by New York Life provided USBA continues to exclusively endorse this program and pays the premium when due. Lean 15 Plan: This 15 year level term plan provides level death benefits for 15 years. Coverage will continue until your 85th birthday (80th birthday for New York residents) provided you pay your premium when due and the Group Policy remains in force. Premiums, although not guaranteed, are expected to remain level for your 15-year term. After each 15-year period, if you are age 65 or under (under age 60 for N.Y. residents), you are guaranteed the option to renew for another 15-year term, regardless of your health. Premiums increase at renewal and are not guaranteed. Once you reach the first renewal period following age 65 (following age 59 for New York residents), renewal is on an annual basis with premium increases each year. Complete details are in the Group Policies G-11008-0 and G-5393-0 (Policy Form GMR) delivered to USBA at its headquarters in Overland Park, Kansas, by New York Life. Each insured Member/Associate Member will receive a certificate which summarizes policy provisions affecting his or her insurance. 10 Year Level Term Plan: This plan provides level death benefits for 10 years. Coverage will continue until your 85th birthday, provided you pay your premium when due and the Group Policy remains in force. Premiums for the first 10-year term, while not guaranteed, are designed to remain level. After each 10-year term, if you are age 65 or under, you are guaranteed the option to renew for another 10-year term, regardless of your health. Premiums increase at renewal and are not guaranteed. Once you reach the first renewal period following age 65, renewal is on an annual basis with premium increases each year. Complete details are in Group Policies G-29246-0 and G-5393-0 (Policy Form GMR) delivered to USBA at its headquarters in Overland Park, KS by New York Life. Each insured Member/Associate Member will receive a certificate which summarizes policy provisions affecting his or her life insurance. Generation 3 Blended Plan: The Generation 3 Blended Plan’s coverage is guaranteed renewable. Neither New York Life nor USBA has the right to cancel the plan. This means that you may continue your coverage regardless of your age so long as you pay the premiums when due. Cash Value & Loans - The whole life portion of your Generation 3 coverage accumulates a small cash value which you may borrow against. Complete cash value tables are provided in your Certificate. For information on loans, please contact USBA at (877) 297-9235. Complete details are in Group Policy G-10649 (Policy Form GMR) delivered to USBA at its headquarters in Overland Park, Kansas, by New York Life. Each Member receives a certificate which summarizes policy provisions affecting his or her insurance. Level Term Life Insurance: USBA Level Term coverage terminates on June 1st following an insured’s 79th birthday. Your coverage may be continued (subject to the age terminations as explained) so long as you pay your premium when due, your USBA Membership is continued, and the Group Policy is not terminated or modified to end your coverage. Complete details are in the Group Policy G-5393-0 (Policy Form GMR) delivered to USBA at its headquarters in Overland Park, Kansas, by New York Life. Each Member receives a certificate which summarizes policy provisions affecting his or her insurance. Whole Life Plan: Neither New York Life nor USBA has the right to cancel the plan. This means that you may continue your coverage so long as you pay the premiums when due. Complete details are in the Group Policy G-10648-0 (Policy Form GMR) delivered to USBA at its headquarters in Overland Park, Kansas, by New York Life. Each insured Member and/or Associate Member receives a Certificate of Insurance which summarizes the policy provisions for his or her coverage.
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02032020
