Provider: New York Life
Life Policy #SGM-611112
Member Service: (800) 362-4462
Website: www.newyorklife.com
Northwest Georgia Oncology Centers provides basic term life and AD&D at no cost to you. However, many people need additional life insurance to meet the financial needs of their loved ones in the event of an untimely death. Depending on your particular situation, lifestyle or number of dependents you may need significantly more life insurance coverage than your basic employer sponsored plan.
Northwest Georgia Oncology Centers offers additional optional life insurance at low group rates. When you enroll online, you will be presented with coverage options and the appropriate cost per paycheck. The cost of the benefit is based on your elected amount and your age.
Coverage amounts greater than the guarantee issue will require you to complete an Evidence of Insurability (EOI) form or complete an additional underwriting step for approval. After electing coverage, you will receive specific information regarding any EOI requirements.
| Benefit | Employee | Spouse | Child(ren) |
|---|---|---|---|
| Life Option(s) | Increments of $10,000 | Increments of $5,000 |
Age 1 day - 6 months: $1,000 Age 6 months - age 19 (to age 25 if full-time student): $10,000 |
| Benefit Contingency | Subject to the Terms of Guarantee Issue | Must purchase employee life in order to qualify for spouse life | Must purchase employee life in order to qualify for child(ren) life |
| Minimum | $10,000 | $5,000 | $10,000 |
| Maximum | Lesser of 5 times annual earnings, or $500,000 | Lesser of $250,000 or 100% of the Employee Coverage amount | $10,000 |
| Guarantee Issue | $200,000 | $50,000 | Not Applicable |
| Age Reductions/Restrictions | 35% at age 65 50% at age 70 Benefits terminate at retirement |
35% at age 65 50% at age 70 Benefits terminate at retirement |
Children greater than 26 years of age are not eligible |
