Group Disability Income Insurance
Underwritten by New York Life Insurance Company
Are You Prepared for the Unexpected?
The word "disability" often triggers thoughts of catastrophic, painful accidents. However, a Total Disability includes any illness or injury that keeps you from performing the material and substantial duties of your usual occupation for two years.* (See "What is a Total Disability?" below) Help protect you and your family by preventing the potentially devastating financial consequences of a disability.
*After two years, if still disabled, you must be unable to perform any occupation for which you are qualified based on training, education or experience
Now Available: No-Exam Disability Insurance
Has COVID-19 heightened your desire to help ensure your income is protected in the event of a covered illness? Now is the time to act. Members under age 50 can apply for up to $4,000 of monthly group disability insurance benefits without a medical exam or lab visit1 (just answer a few health questions).
Over age 50? Your medical records and/or recent lab work may be accepted as a safer alternative to an in-person appointment. When New York Life contacts you regarding the medical requirements, let them know if you wish to discuss these alternate options.
Be sure to take advantage of this offer!
1Please refer to the disclosures page for more details on the application process.
With APSIT Group Disability Income Insurance, you'll have access to the following benefits:
- Your choice of monthly benefit from $400 to $6,000 per month (in multiples of $100) not to exceed 60% of earnings
- Your choice of waiting period (60 or 90 days)
- Benefits paid up to age 70
- Premium payments waived while receiving Total Disability Benefits
- Benefits for recurring disability (subject to policy limitations)
- Partial Disability Benefit
- Rehabilitation Benefit
- Survivor Benefit
- Organ Donation Benefit
Need a few more details on a disability income policy? You got it! More facts are always a good thing.
Check out the APSIT Group Disability Income Insurance Brochure to learn more about coverage features, cost, eligibility, renewability, limitations, and exclusions.
Frequently Asked Questions
APSIT Group Disability Income Insurance is designed to help protect up to $6,000 a month, not to exceed 60% of your gross monthly earned income if you can’t work due to a covered disability.
Covered Total Disability: prevented by illness or injury from performing the material and substantial duties of your usual occupation during the first 24 months (any occupation that you are reasonably qualified for by training, education or experience after 24 months) provided you are not otherwise working for pay or profit.
Yes. It can serve as a primary income replacement coverage or act as a supplement to your Social Security benefits, other governmental benefits, employer benefits, and benefits from other group policies.
A waiting period is the number of consecutive days you must be Totally Disabled by sickness or accident before benefits commence. Coverage with a longer waiting period is less expensive. If applicable, you should choose one that will provide benefits when your employer provided salary continuation insurance runs out.
You will become insured on the date specified by New York Life Insurance Company, provided the first premium contribution has been paid, satisfactory evidence of insurability has been submitted, and you are at full-time work.
Members of the American Institute of Physics' Member and Affiliated Societies are eligible to apply for insurance through APSIT. Members in good standing, under age 60, and a resident of the United States (excluding VT, WA, and certain U.S Territories), Canada (except Quebec), or Puerto Rico, at full-time work (30 hours/week), are eligible to apply for APSIT Group Disability Income Insurance.
Underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 USA under Group Policy G-29069-1 On Policy Form GMR-FACE/G-29069-1.
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.