Administrative costs for group coverage are low, so you can save in premium costs.

New York physicians through age 60 who are actively at work on a full-time basis (working 30 hours or more per week) are eligible for coverage.

Life Insurance from $200,000 to $2,000,000, in $50,000 increments, is available to physicians on a fully underwritten basis. Physicians age 60 & under can apply for 10-Year Level Term; physicians age 55 & under can apply for 15-Year Level Term; and physicians age 50 & under can apply for 20-Year Level Term. The initial premium will not change for the first 10, 15 or 20 years unless the insurance company exercises its right to change premium rates for all insureds covered under the group policy and with 60 days written notice.

Level Premium for Selected Term

You can select a ten year level term period with Simplified Issue. At the end of the level term period, evidence of insurability and age eligibility are required to enter another level term period.

Continuation of Coverage to Age 80

If, at the end of the level term period, you are ineligible to enter another term period, you may continue coverage on a Group Annual Term basis with rates based on the five year age bracket for your age at that time.

ReliaStar Life Insurance Company of New York has agreed to continue this Group policy as long as the Physicians and Surgeons Insurance Trust sponsors this Program, does not sponsor a competing Life Program, and it is legal for ReliaStar to continue this Group Insurance Program. Coverage is subject to timely premium payment. Once purchased, your coverage cannot be cancelled due to a change in your medical history.

If you choose to add this option, and you die in a covered accident, the AD&D benefit automatically pays your beneficiary an amount equal to 100% of your amount of Life Insurance to a maximum of $250,000.

Accelerated Life Benefit Included

If you are terminally ill and have a significantly impaired life expectancy of twelve months or less, you can receive a payment of up to 50% of your coverage, to a maximum of $50,000, while living.

Spouse and Dependent Children Coverage Available

A physician’s spouse is eligible for $200,000 to $500,000 of term life insurance, in $25,000 increments. Children age 14 days to 19 years (to age 25 if full-time students) are eligible for $10,000 or $25,000 of term life insurance.

Waiver of Premium Option Available

If you select this option, if you become totally disabled, as defined in the certificate, before age 60, you may keep your coverage, subject to policy provisions, without paying premiums.

Exclusions

Please see the insurance certificate for details on exclusions from coverage.



ABOUT YOUR ADMINISTRATOR

Charles J. Sellers & Co., Inc. has successfully administered insurance programs for Medical Societies and Bar Associations across New York State for nearly seventy years.

Sellers & Co. maintains its own claims, underwriting and customer service departments to assure responsive, accurate service. Our highly qualified Representatives look forward to helping you answer your insurance needs.

The Group Term Life Insurance is underwritten by:

ReliaStar Life Insurance Company of New York has a
rating of Excellent (A) by A.M. Best. This is the third highest of 15 ratings. A.M. Best Company assigns ratings from A++ to F based on a company’s financial strength and ability to meet obligations to contract holders.