Group 10-Year Level Term Life Insurance

How Much Life Insurance Do You Really Need?

Even after you’re gone, you will be able to help protect the financial security of your loved ones with APSIT 10-Year Group Level Term Life Insurance. When you determine how much life insurance you need, take your family’s current standard of living into account. Your income, work benefits, and any outstanding debt should be considered. If you provide care for your children and make repairs around the house, don’t forget to keep these factors in mind as well.

With APSIT Group 10-Year Level Term Life Insurance, you'll have access to the following benefits:

  • Apply for $100,000 to $1,000,000 (in multiples of $10,000) of member coverage and up to $750,000 (in multiples of $10,000) of spouse coverage
  • Each unmarried, dependent child from age 14 days through six months may be insured for $1,000. Children from seven months to 22 years old (24 if a full-time student) may be insured for up to $10,000 (in multiples of $1,000).
  • Affordable, highly competitive rates
  • No exclusions: After coverage is validly in force for two years, benefits are payable for death from any cause, at any time, anywhere in the world (subject to U.S. government regulations on restricted countries)
  • Portable coverage: Maintain your valuable APSIT Group Level Term Life Insurance protection throughout your career, no matter where it takes you
  • Living Benefit Option (“Accelerated Death Benefit”): Enables you to apply for a portion of your benefits if you qualify as being terminally ill, subject to certain policy restrictions and limitations. These benefits are paid directly to you, and you may spend them any way you wish (See information and rates for more details.)


Members of the American Institute of Physics' Member and Affiliated Societies are eligible to purchase insurance through APSIT. You and your spouse (if proposed for insurance) are eligible to apply for APSIT Group 10-Year Level Term Life coverage if you are under age 65, reside in the United States (except territories), Puerto Rico, or Canada (except Quebec)*, and are able to perform the normal activities of a person in good health and like age (MD and NC residents: perform the normal activities of a person of like age).

Also, all unmarried dependent children ages 14 days through 22 years (24 if a full-time student). In order to become insured, satisfactory evidence of insurability must be provided and the required premium must be paid. A dependent who is also a member of an American Institute of Physics' Member or Affiliated Society is eligible for either participant or dependent coverage, but not both. If both participant and spouse are covered as participants, neither may insure the other as spouse, and only one may insure any eligible children.

*Certain state eligibility restrictions apply. Not available to residents of NC, SD, OR, and VT, U.S. Territories (except Puerto Rico), and Quebec.

Frequently Asked Questions

Who is this plan underwritten by?
The APSIT Group 10-Year Level Term Life Insurance Plan is underwritten by New York Life Insurance Company, under Group Policy No. G-29134-0, on Policy Form G-29134-0/GMR-FACE.

How much life insurance do I need?
Some insurance experts suggest that you purchase life insurance equal to seven to ten times your current income. In addition, you should consider how much your dependents will need to maintain their lifestyle.

How much insurance can I request?

  • Participants—$100,000 to $1,000,000 in $10,000 multiples
  • Spouse—$100,000 to $750,000 in $10,000 multiples, not to exceed 100% of member's coverage
  • Child(ren) 14 Days Through Six Months Old—$1,000 per child
  • Child(ren) Seven Months Through 22 Years Old (24 if a full-time student)—$10,000 per child in $1,000 multiples

Note: The total amount of coverage an individual may request under all group life insurance plans underwritten by New York Life Insurance Company may not exceed $1,500,000.

Are any discounts available?
Two discounts may be available:

  • Volume Discount—If you or your spouse becomes insured for coverage amounts of $250,000 through $490,000, you'll receive a volume discount; and for amounts of $500,000 through $1,000,000 of coverage, you'll receive an even bigger discount.
  • You May Pay Less If You're A Qualified Nonsmoker—Nonsmokers meeting the highest underwriting standards may qualify for the "Preferred" (the plan's best) rates. Other nonsmokers may qualify for "Select" (higher, but still very competitive) or "Standard" (the plan's highest) rates.