Group Supplemental Term Life Insurance Coverage
What Is It?
The CCPOA Supplemental Term Life is a life insurance plan that carries with you throughout your career and can be rolled over into retirement. Coverage ranges from $25,000 up to $500,000 for Active members, and up to $250,000 for Retired members.
Who Can Apply?
Rank and File; Supervisor, Retired
What Does It Cost?
$25,000 in coverage starts at $1.25 monthly.
STL RATE CHART
|Active STL Rates||Retired STL Rates|
30-DAY FREE LOOK
If you are not completely satisfied with the terms of your Certificate of Insurance you may return it, minus any claims paid, within 30 days. Your coverage will be invalidated and you will receive a full refund - no questions asked.
(This is a legacy program, and no longer open to new enrollment)
Our Guaranteed Issue Life Insurance Program is simple. You only need two things: (1) If you are age 55 or younger, you can apply for Guarantee Issue Life Insurance coverage. (2) You must apply in the first six months of hire.
You are eligible for $125,000 in coverage. Have a spouse? You can cover your spouse for $12,500. Kids? Coverage is available for them as well.
When you are ready, you can increase your coverage amount by applying for additional Group Supplemental Term Life Insurance through theTrust. Coverage amounts up to $500,000* for members at affordable rates.
Benefits are paid for a death occurring at any time, any place,1 from any cause, except suicide in the first two years.
No Cancellation for Ill Health.
Once your coverage takes effect, you cannot be canceled due to a change in your health.
Accelerated Death Benefit.
Potentially relieves some of the financial difficulties associated with a terminal illness by allowing you (and your spouse, if covered) a one-time option to receive up to 50% of the term life insurance proceeds, to a maximum of $100,000, upon being diagnosed by a physician as having less than 12 months to live.2
If your coverage is terminated for any reason other than non-payment of premium or cancellation of the Master Policy, you may convert it to an individual policy customarily offered by New York Life, without providing further proof of your health. Conversion may be requested at any time up to 31 days after termination of your original coverage. This conversion privilege is also available to your insured spouse and/or children should you pass away. (See your Certificate of Insurance for more information).
As an active CCPOA member under 75 and working full-time*, you can apply for coverage on yourself, your spouse, and your dependent children under age 21 years (23, if a full-time student).
If you and your spouse are both active members of CCPOA, each of you may apply in your own right as a member, not solely as a spouse. If you do so, however, coverage may not be duplicated by applying as dependents of each other and only one of you may request coverage for eligible children.
CCPOA and CCPOA Benefit Trust Fund staff are also eligible to apply. Permanent Intermittent Employees are eligible to participate in this Insurance Plan, including Term Life Insurance and Accidental Death & Dismemberment.
When is Coverage Effective?
Your coverage will be effective (subject to approval of your application by the CCPOA Benefit Trust Fund and New York Life Insurance), the first (1st) day of the next calendar month immediately following the month for which a payroll deduction is received for the Group Supplemental Term Life premium, provided that you are actively at work and a CCPOA member on that date.
If you choose to cover your dependents, their insurance will begin on the date you become covered, or the first month following approval of your application to cover a dependent, whichever date is later, subject to deduction of the required premium.
If you are not a CCPOA member or actively working full-time when coverage would normally take effect, the effective date will be deferred until you return to active full-time work and/or become a CCPOA member.
Please Note: Acceptance into this plan is subject to medical evidence of insurability as determined by New York Life Insurance. Depending on your age, the amount of coverage you request, and your answers on the application, a medical examination, medical test(s), or other evidence of good health may be required. Any exams/tests requested by the company will be conducted at your convenience and at no expense to you.
Deferred Effective Date: If you are not Actively-at-Work on the date you are to be covered under the Policy, you (and your spouse/dependents) will not be covered until the date you return to work.
When Does Coverage End?
Your coverage under this plan will terminate on:
- The date the policy is canceled; or
- The Premium Due Date on or nearest the date you cease to be a dues paying member of the CCPOA; or
- The Premium payment is not made on the Due Date.
Your dependents’ coverage remains in force as long as your coverage remains in effect, premiums are paid when due, and they remain eligible dependents. An eligible spouse cannot be legally separated or divorced from the insured person.
* Includes permanent full-time (actively at work at least 30 hours per week) and PIE employees, and all R06, S06, M06 CCPOA members.
1. Subject to U.S. Government regulations on restricted countries.
2. You should consult a personal tax advisor since proceeds under this benefit may be taxable.
Bates # 1710192
Starting monthly at $1.25
Life insurance costs are based on both your age, and the amount of coverage. See STL Rate Chart