Group Disability Income Insurance

Group Disability Income Insurance  

Overview

 

Help Insure Your Income -- Your Most Valuable Asset

Your most important asset is your ability to earn income. Even if you are young and healthy, a serious illness or injury could put you out of work for months or even years — thus jeopardizing your livelihood. A reliable source of disability income protection is this Group Disability Income Insurance exclusively for NCRA members.

 

Even if you have some disability insurance through your employer, or if you are self-employed, it may not be enough. Under the Group Disability Income Insurance, you will be provided with a regular monthly income if you are totally disabled and unable to work as the result of a covered illness or injury.

 

Benefit Features:

  • Elect monthly benefits to suit your needs and lifestyle
  • 24-hour insurance protection—on or off the job—anywhere in the world1
  • Spouse may also apply for coverage
  • Choice of benefit periods and waiting periods
  • Offers two plans (Short Term Plan I or Long Term Plan II) to help meet individual needs and budgets
  • Waiver of Premium, Rehabilitation, Related Disability and Survivor Benefits included
  • Works with other disability coverage you may have
  • Specially negotiated group rates

 

Don't let a disability put an end to your income.

1Subject to U.S. government regulations on restricted countries. Group Disability insurance can be a valuable part of everyone's portfolio.

Forms

 

Insurance Application and Brochure

These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing.

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Tell Me More

 

Details

At a Glance

Summary*

Type of Insurance

Group Disability Income Insurance

Designed for

All actively working (at least 25 hours per week) members in good standing and/or their lawful spouses, also actively working (at least 25 hours per week), under age 60.

Underwritten by

New York Life Insurance Company

Group Policy Number/Form Number

G-30853-2 on Policy Form GMR

Coverage Amounts Available for Members and Spouses

Short Term Plan (Plan I) – $500 to $3,000 (in $100 increments) not to exceed 70% of your basic monthly pay. Benefits are payable for one year.

Long Term Plan (Plan II) - $500 to $5,000 (in $100 increments) not to exceed 70% of your basic monthly pay. Benefits are payable up to age 65.

Waiver of Premium

After six continuous months of receiving benefits for a covered total disability, premiums due thereafter will be waived during the remainder of the disability. When you stop receiving monthly benefits, premiums must again be paid when due.

Related Disability Benefits

Receive benefits for disabilities which are recurrent in nature (following a total disability).

Survivor Benefits

Eligible survivors receive benefits if insured dies after receiving benefits for six consecutive months.

 

* This is a listing of insurance coverage highlights only.

For features, costs, eligibility, renewability, limitations and exclusions, refer to brochure attachment by clicking the Download Now button to the right.

Underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 under Group Policy No. G-30853-2 on Policy Form GMR. -FACE/G-30853-2. New York Life is licensed/authorized to transact business in all of the 50 United States, the District of Columbia and Puerto Rico. However, not all group plans it underwrites are available in all jurisdictions. Please check the applicable insurance brochures for current availability. New York Life’s state of domicile is New York, and NAIC ID # is 66915.


This summary is a brief description of benefits only and is subject to the terms, conditions, exclusions and limitations of the group policy.

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Contact Us

We're here to help! Please contact us in whatever manner is most convenient for you.

 

 Program Administrator
AMBA Administrators, Inc.
4050 114th Street
Urbandale, Iowa 50322
 Phone
1-800-503-9230
 Hours
 M-F 7a-5p CT
 Email
[email protected]
 Underwritten by
Address
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010

FAQs

Answers about the program, including eligibility, options, customer service and more.

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  • Why should I consider disability insurance?
    If a disabling accident or illness suddenly took away your ability to work and as a result also took away your ability to earn a paycheck ... how would you continue to afford the living expenses you must now pay? With Group Disability Income Insurance sponsored by NCRA, your income would continue in the form of a monthly benefit that you select.

  • Who is eligible for this insurance?
    All actively working (at least 25 hours per week) NCRA members in good standing and/or their lawful spouses, also actively working (at least 25 hours per week), under age 60 may apply for this coverage. You must reside in one of the following states: AZ, CA, DC, GA, IN, HI, IA, MA, NJ, MI, NE, OK, PA, RI and TN.

  • Do I have to meet with an insurance agent?

    Issuance of this coverage is handled over the Internet and the mail. You can review the materials in the privacy of your home and request your insurance directly through the mail without meeting with an agent. You can, of course, talk to a licensed representative if you'd like. Please click the Contacts section for the toll-free number.

     

  • How do I apply?
    Download a no-obligation application and brochure containing detailed coverage information and provisions, including specially negotiated costs, exclusions, limitations and terms of coverage from the right column.

  • How much insurance can I apply for through this program?

    You Can Select Your Monthly Benefits

     

    Short-Term Plan (Plan I): Your monthly benefit can range from $500 to $3,000 (in $100 increments).

    Long-Term Plan (Plan II): Your monthly benefit can range from $500 to $5,000 (in $100 increments).

     

    Your selected benefit amount under either option, combined with any other insurance you have or for which you are applying, can not exceed 70% of your basic monthly pay.

  • How much will this coverage cost?
    Your premium is based on your age, the monthly disability benefit you request plus the waiting period and benefit period. A shorter benefit period results in more specially negotiated premiums, as does a longer waiting period. Refer to the rate chart in the attached brochure for important information, including how costs increase as you age.

  • What if I have second thoughts after I apply?
    Once approved, you will be sent your Certificate of Insurance. You will have 30 days from the date of receipt to review the certificate. If you are not satisfied with the terms of the certificate, simply return it to the Insurance Administrator, without claim, and any premiums paid will be refunded in full. Your coverage will then be invalidated.

  • What is the benefit period?
    The benefit period is the amount of time for which disability benefits will be paid. You select a benefit period when you apply for your disability insurance coverage. You can choose between the following benefit periods through this program: Short Term Plan (Plan I) - One-year or Long Term Plan (Plan II) - To Age 65.

  • What is the waiting period?
    The waiting period is a specified amount of time (for example, 30 days), you must be totally disabled before benefits can be paid. You select a waiting period when you apply for your disability insurance coverage. You can choose between the following waiting periods through this program: 30 days only (Short Term Plan); 30 days or 90 days (Long Term Plan).

  • When does insurance take effect?
    A person must request insurance in writing, by completing the application. The person will be insured on the first of the month coinciding with or next following the date the application is approved by New York Life Insurance Company, provided the required premium is paid when due. The person must be actively at work on the date the insurance is to take effect. If not, the insurance will take effect on the day the person returns to work.

  • When does the insurance end?
    A person’s insurance will end at the earliest of: the date the group policy is terminated or is modified to end insurance for his/her class; the end of the period for which the last premium has been paid by him/her; the date the person ceases full-time employment for reasons other than total disability; the person receives total disability benefits for he maximum benefit period; the person commences active full-time military service; the premium due date coinciding with or next following the date the person ceases to be a member of this association or the association ceases to be a Participating Association, or the premium due date coinciding with or next following the date the person attains age 70.