Life Coverage - Physicians

Benefits of your Physician Group Term Life Insurance Program:

(Sellers & Co. also offers various Whole Life plans. Please call for more details).

  • Eligibility

New York physicians through age 60 are eligible. Spouses through age 60 are also eligible to apply. (A 10-year level term plan is available to physicians and spouses under age 65). If your County or District Medical Society sponsors this program, membership is required. Medical and financial underwriting is required in most instances.

  • Amount of Coverage Available

Physicians - $200,000 to $2,000,000
Spouses - $200,000 to $ 500,000

  • Annual & Level Term Available

Two programs are available: an Annual Term program with rates in five-year age brackets, and a Level Term program in which the premium stays level for the first 10, 15, or 20 years, depending on the term length you select. The Insurance Company reserves the right to change premium rates, but may only do so for all insureds covered under the group policy and with 60 days written notice.

  • Dividend Program

This program is eligible for the payment of dividends (experience credits) to certificateholders. Experience credits are a return of premium and interest that are made possible by favorable group claims experience.  Because the payment of these credits is based on experience, future payments cannot be guaranteed.  This program has resulted in the payment of experience credits every year since 1976.

  • Affordable Rates

The purchasing power of the physicians in this program results in reasonable rates. Rates are even more affordable if you are a non-tobacco user.

  • Pay No Premiums if You’re Disabled

Optional waiver of premium is available – if you become totally disabled before age 60, you may keep your coverage, subject to policy terms, without paying premiums.

  • Protection for Accidental Death

This plan offers additional assistance in the event of an accidental death or dismemberment (AD&D), which can be a financial shock to a family. The additional AD&D benefit pays your beneficiary equal the value of your coverage, to a maximum of $250,000, if you die in a covered accident.

  • Accelerated Life Benefit

If you are terminally ill and have a life expectancy of twelve months or less, you can receive a portion of your death benefit to use as you wish, including to help with end-of-life expenses. You can receive a payment of 25% of your coverage, or $50,000, whichever is less.

  • Underwritten by ReliaStar Life Insurance Company of New York

 

Group Level Term Life
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