Underwritten by New York Life Insurance Company
Life insurance can be one of the cornerstones of financial planning. In the event of an unexpected or premature death, the SIAM Group Term Life Insurance can help provide the financial security your family needs. This life insurance helps make sure they’ll be able to meet current expenses—such as mortgage and car payments—as well as future expenses such as college tuition.
The U.S. (except NC, OR, SD, VT, WA and territories) and Puerto Rico.
View the Forms section and download a no–obligation application and brochure containing detailed policy information and provisions, including costs, exclusions, limitations, and terms of coverage.
|Where available||United States (except NC, OR, SD, VT, WA and territories) and Puerto Rico.|
|Notes||Members under age 70, their lawful spouse, and unmarried dependent children ages 14 days - 22 years (24 if a full-time student).|
|Type of Insurance||Group Term Life|
|Underwritten by||New York Life Insurance Company|
|Group Policy Number||G-9400-1|
We're here to help! Please contact us in whatever manner is most convenient for you.
12421 Meredith Drive
Urbandale, IA 50398
M-F 7:30a - 6p CT
Answers about the program, including eligibility, options, customer service and more.
Who is the underwriter?
Why are these rates so exclusively priced?
How much insurance should I consider?
Who is eligible for this insurance?
How much insurance can I request?
Will I meet with a salesperson?
When is the coverage effective?
When does the coverage end?
Are there any exclusions?
How does the Accelerated Death Benefit work?
The Living Benefit or "Accelerated Death Benefit" is designed to provide members with the option to have a portion of a terminally ill insured’s life insurance benefit paid while he/she is still alive.
The money received under this feature can be used however you see fit. For example, it can help pay medical bills and other outstanding debts and financial obligations … it can help you keep your savings and assets intact … it can help you maintain your quality of living.
To qualify for this benefit, a person must be insured under this Policy and diagnosed as having a life expectancy of 12 months or less. Proof of terminal illness will consist of a statement from a doctor and any other medical information New York Life Insurance Company believes necessary to confirm the person’s status.
You can request payment equal to 50% of a qualified terminally ill person’s in–force coverage. The request must be made at least 12 months prior to that person’s scheduled coverage termination age, and the amount payable after the insured’s death will be reduced by this payment. (Premium contributions will not be reduced.) If a scheduled reduction will occur within one year of the date the advance payment will be made, the benefit payable will be 50% of the reduced coverage. (See "Amounts of Insurance At Member Ages 60 through 79" in the Insurance Brochure.) Note: An insured will be eligible for only one terminal illness benefit during his/her lifetime.
Please note that receipt of Accelerated Death Benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should consult with the appropriate social services agency and seek the advice of a qualified tax advisor.
What if I have second thoughts after I apply?