Group Accidental Death and Dismemberment Insurance
Underwritten by New York Life Insurance Company
Focus on what's important—your health and your family's future.
Unfortunately, accidents can’t be predicted, but they happen every day. If you are involved in a bad accident, will your finances suffer a setback? Will you struggle to keep up with cost of living expenses and medical bills? APSIT’s Group Accidental Death & Dismemberment Insurance will help provide you with the financial security you need.
With APSIT Group Accidental Death & Dismemberment Insurance, you'll have access to the following benefits if you are injured in an accident:
- Your choice of $20,000 to $300,000 Principal Sum (in units of $20,000)
- Spouse and dependent children coverage available
- Common Carrier Benefit
- Common Disaster Benefit
- Repatriation Benefit
- Rehabilitation Benefit
- Education Benefit
- Accident Disability Benefit
Need a few more details on an accidental death and dismemberment policy? You got it! More facts are always a good thing.
Check out the APSIT Group Accidental Death and Dismemberment Insurance Brochure to learn more about coverage features, cost, eligibility, renewability, limitations, and exclusions.
Frequently Asked Questions
This policy is underwritten by New York Life Insurance Company, under Group Policy No. G-29068-2, on Policy Form GMR.
- Participants—$20,000 to $300,000 in $20,000 increments
- Spouse—May have 50% of member's coverage unless child is covered, in which case spouse may have 40% of total coverage
- Child(ren)—May have 15% of member's coverage unless spouse is covered, in which case child may have 10% of total coverage
Group Accidental Death & Dismemberment Insurance requires no underwriting and is often processed quickly.
Premium contributions for both the participant and spouse are based on the participant’s age (under age 70 or age 70 and over) at last birthday.
Insurance will take effect on the date your application is approved by New York Life Insurance Company, provided the initial premium contribution is paid within 31 days after the date you are billed.
Any person who is not performing his/her normal daily activities as required will not become insured until the day he/she is performing such activities, provided such date is within three months of the date insurance would have been effective and the person is still eligible.
Yes, Group Accidental Death & Dismemberment Insurance does have exclusions and limitations. They can be found in the brochure.
Call the Program Administrator for more details as coverage varies depending on the policy.
When you become insured, you will be sent a Certificate of Insurance summarizing you benefits under the policy. If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it, without claim, within 30 days. Your coverage will be invalidated and you will be sent a full refund—no questions asked!
The APSIT Group Insurance Program is administered by Pearl Insurance. Pearl Insurance strives to provide APSIT Group Insurance Program participants with the most relevant, competitively priced member benefit insurance packages for individuals and their families. Pearl Insurance has been providing associations like APSIT with quality group coverage for over 65 years.
The insurance companies reserve the right to change rates. They report "coverage experience" (or the number and size of claims made) annually and, if applicable, rate action recommendations. Using this information, the Program Administrator works with APSIT to evaluate the recommendations and decide what, if any, action (i.e. a rate action, a change in benefits, or even a change in insurance companies) is appropriate to maintain each policy's financial stability and competitive status. APSIT ultimately approves the action, and insured participants are advised of their decision prior to implementation.
Members of the American Institute of Physics' Member and Affiliated Societies are eligible to purchase insurance through APSIT. Members in good standing, under age 70, and who are residents of the United States (excluding FL, NC, OR, SD, VT, WA, and territories) are eligible to apply for coverage for yourself, your spouse under age 70, and your unmarried dependent children under age 19 (23 if a full-time student). To become insured the required premium must be paid.
A dependent who is also an eligible member can be covered as either a participant or dependent, but not both. If both member and spouse are covered as participants, neither may insure the other as spouse, and only one may insure any eligible children.
Underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 USA under Group Policy G-29068-2 On Policy Form GMR-FACE/G-29068-2.
New York Life Insurance Company is licensed/authorized to transact business in all of the 50 United States, the District of Columbia, Puerto Rico and Canada. However, not all group policies it underwrites are available in all jurisdictions. For more information, including, features costs, eligibility, renewability, limitations, and exclusions, download the brochure above.
New York Life Insurance Company's state of domicile is New York, and NAIC ID # is 66915
New York Life Insurance Company (New York Life) is a leader in the association group insurance field, providing life and health insurance coverage for associations. The company has an enduring commitment to its customers' financial security. Regardless of the state of the economy or the stock market, New York Life bases its financial decisions on the guiding principle of serving its clients. New York Life has received the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit ratings agencies: A.M. Best (A++), Fitch Ratings (AAA), Standard & Poor's (AA+), and Moody's Investors Services (Aaa).*
*Source: Third-party Rating Report as of 10/15/2020.