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50+ Multi-Benefit Term Life Insurance Plan

Underwritten by New York Life Insurance Company

A Plan Designed for Exclusively for ABA Members 50 and Over

The 50+ Multi-Benefit Term Life plan was specially designed to meet the needs of ABA members at your stage of life. It’s often difficult – and expensive – to get the life insurance coverage you still need today. Regardless of your financial situation, it makes sense to update your coverage to make sure you have the resources to replace necessary income… pay off remaining liabilities such as mortgages, medical costs, other outstanding debts, legal fees…and cover final expenses such as funeral costs.

Coverage For You

As long as you are an ABA member, you may choose any benefit amount from $25,000 to $100,000 in $1,000 increments. If you are under age 76 and reside in the United States (except CT, MA, and UT), Puerto Rico (See It's Easy to Apply, below), or the U.S. Virgin Islands, you may apply for coverage. The total amount of coverage under all ABE-Sponsored Term Life Insurance Plans may not exceed $2,000,000.

Coverage For Your Family

Provided you are insured or applying for coverage under this plan, you may choose to apply for any spouse or domestic partner benefit amount from $25,000 to $100,000 in $1,000 increments. Spouse/domestic partner must be between the ages of 45 and 76 and spouse/DP coverage cannot exceed 100% of your coverage. A Domestic Partner (DP) is defined as an eligible dependent. (The Group Policy provides the same benefits for parties to a Civil Union as are granted to a spouse/DP in marriage, for residents of any state that so mandates such similar benefits.) If both you and your spouse/DP are ABA members, you may both apply for member coverage, but if you do, neither of you may insure the other as a spouse/DP. If you die, your spouse/DP can continue coverage until the spouse/DP remarries or attains age 90, whichever comes first, premiums (based on the spouse/DP's age) are paid when due and the Group Plan remains in force. See also When Insurance Ends provisions, below.

Simplified Issue – No Medical Exams or Doctor Visits Required

This plan requires no medical exams, doctor visits or Attending Physician Statements (APS). Because it’s “Simplified Issue” you only have to answer 5 questions. And there is no “actively at work” requirement.

“Living” Benefits for Terminal, Chronic or Critical Illness

The 50+ Multi-Benefit Term Life plan was designed specifically for people at your stage of life. That’s why it includes “living benefits” to help financially should you experience a Terminal Illness1, Chronic Illness2, or a Permanent Critical Condition3. Any of these “Accelerated Benefits”4 that you receive will be deducted from your total Death Benefit, which will still be paid to your beneficiary. Note: the eligibility age for the accelerated benefits is under age 80.

Here is an example of how the accelerated living benefits would work if you were less than 80 years old:

Description (Qualifying events)1 $50,000 Benefit $100,000 Benefit % of Insurance
Death $50,000 $100,000 100%
Terminal Illness $25,000 $50,000 50%
Chronic Illness2 or
Permanent Critical Condition3





1 Terminal Illness - a condition for which the patient has a life expectancy of 12 months or less.

2 Chronic Illness - the inability to perform 2 of 6 Activities of Daily Living including bathing; dressing; toileting; transferring (the ability to move in and out of a bed, chair or wheelchair with or without the aid of equipment such as: a cane, walker, crutches, grab bars; or other support devices); eating; continence for a period of at least 180 days.

3 Permanent Critical Condition - conditions can vary but requirements include (a) is certified by a licensed health care practitioner as having a severe cognitive impairment; (b) is required to be continuously confined in a convalescent care facility, hospice, nursing home or at home; (c) requires substantial supervision from threats to heath and safety due to severe congnitive impairment and is required to be under care of a licensed healthcare professional.

4 A maximum acceleration of 75% is available. An example would be the occurrence of a qualifying event such as a Chronic Illness or Permanent Critical Condition (25%) followed by a Terminal Illness acceleration (50%). However, no more than 75% of the Face Amount may be payable on an accelerated basis. The remaining face amount is paid upon the death of the insured. Availability of accelerations for Terminal Illness, Chronic Illness or Permanent Critical Illness ceases at age 80. If the death benefit is reduced by a payment of an accelerated benefit; premiums due are based on the reduced level of death benefits.

Please note that receipt of accelerated death benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should consult with the appropriate social services agency and seek the advice of a qualified tax advisor. Note: The accelerated benefit is not available to residents of Massachusetts.

Apply From Age 50-75

ABA members age 50-75 and their spouses age 45-75 residing in the U.S. (excluding CT, MA, UT, FL, NC, TX, VT and WA) are eligible to apply.

When Coverage Begins

Insurance will take effect on the date your application is approved by New York Life Insurance Company provided the initial contribution is paid within 31 days after the date you are billed (send no money now) and any person to be insured is actively performing the normal activities of a person in good health of like age. Note: Residents of NC: any reference to "performing the normal activities of a person in good health" is replaced by the requirement that the health status of any proposed insured person remains the same as stated in your application. 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.

When Coverage Ends

The plan doesn’t terminate until age 90. Your only requirement to continue coverage is that you remain a member of the ABA and pay premiums when due and as long as the group policy is not terminated by ABE or the trustee of New York Life Insurance Company. Your spouse's coverage ends when your coverage ends or when he/she is no longer your lawful married spouse or when he/she reaches age 90. Upon your death, coverage for your spouse may continue as described in the Certificate of Insurance.

Renewable Annually at Group Rates — No Decrease in Benefits

As long as you continue as a member of the ABA, you will be able to renew the coverage on an annual basis, and enjoy member group rates based on your age. Your benefits will stay level – no reductions. As you can see in the rate chart to the right, the cost of this insurance is affordable. Thanks to your ABA membership, you have access to this kind of coverage at members-only group rates.

You’re Covered by a Full 30-day, Free Review

This plan is backed by a full 30-day, unconditional, free review. Once your application is approved, you will receive your Certificate of Insurance. If for any reason you are not fully satisfied, simply return it without claim within 30 days. Your premium will be returned promptly and you will be under no further obligation.

Conversion Provision

If you should drop your ABA membership, or your coverage terminates involuntarily, you have the right to convert your 50+ Multi-Benefit Term Life Insurance Plans to an individual policy — regardless of your health. Your Certificate of Insurance explains this privilege in detail. The right to convert does not apply if coverage terminates due to non-payment of premium.

Effective Date

Your 50+ Multi-Benefit Term Life Insurance will go into effect on the first day of the month after your application is approved by New York Life, provided you pay your initial premium within 31 days after being billed and the proposed covered person is performing the normal activities of a person in good health of like age on the effective date. Coverage for your spouse, if approved, goes into effect when the member’s coverage does. If any person proposed for insurance is not performing the normal activities of a person in good health of like age on the date insurance would have taken effect, that person’s insurance will not take effect until the day such person is performing his/her normal activities as required, provided that the new effective date is within 3 months of the original date and the person is still eligible. Spouse coverage will not become effective prior to the effective date of the member’s insurance.

Note: Residents of NC: Any reference to "performing the normal activites of a person in good health" is replaced by the requirement that the health status of any proposed insured person remains the same as stated in your application.


Exclusions and Limitations:

Benefits are payable for death from any cause except suicide whether sane or insane during the first two years of the policy.


It’s Easy to Apply

As long as you are an ABA member, apply online today or download the paper 50+ Multi-Benefit Term application, print and complete the entire application and send it to: ABE, 321 N. Clark Street, Chicago, IL 60654-7648.


Underwritten By:

Underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 under Group Policy G-2766-4 on Policy Form GMR-FACE/G-2766-4 .

New York Life's state of domicile is New York and its NAIC ID# is 66915.

ABE-Sponsored 50+ Multi-Benefit Term Life Insurance Plan is a group insurance plan, meaning coverage is issued to an ABE member under a Certificate of Insurance; it is not provided under an individual policy, nor is it employer/employee insurance.



In this notice, references to “you” and “your” include any person proposed for insurance.  Information regarding insurability will be treated as confidential.  In considering whether the person(s) in your request for insurance qualify for insurance, we will rely on the medical information you provide, and on the information you AUTHORIZE us to obtain from your physician, other medical practitioners and facilities, other insurance companies to which you have applied for insurance and MIB, Inc. (“MIB”).  MIB is a not-for-profit organization of insurance companies, which operates an information exchange on behalf of its members.  If you apply for life or health insurance coverage or a claim for benefits is submitted to an MIB member company, medical or non-medical information may be given to MIB and such information may then be furnished by MIB, upon request, to a member company.

MIB and other insurance companies may also furnish New York Life, its subsidiaries or the ABE with non-medical information (such as driving records, past convictions, hazardous sport or aviation activity, use of alcohol or drugs, and other applications for insurance). The information provided may include information that may predate the time frame stated on the medical questions section, if any, on this application. This information may be used during the underwriting and claims processes, where permitted by law.

New York Life may release this information to ABE, other insurance companies to which you may apply for insurance, or to which a claim for benefits may be submitted and to others whom you authorize in writing.  However, this will not be done in connection with test results concerning Acquired Immune Deficiency Syndrome (AIDS) or Human Immunodeficiency Virus (HIV).  We may also make a brief report of your protected health information to MIB, but we will not disclose our underwriting decision.

New York Life will not disclose such information to anyone except those you authorize or where required or permitted by law.  Information in our files may be seen by New York Life and ABE employees, but only on a "need to know" basis in considering your request.  Upon receipt of all requested information, we will make a determination as to whether your request for insurance can be approved.

If we cannot provide the coverage you requested, we will tell you why.  If you feel our information is inaccurate, you will be given a chance to correct or complete the information in our files.  Upon written request to New York Life or MIB, you will be provided with non-medical information.  Generally, medical information will be given either directly to the proposed insured or to a medical professional designated by the proposed insured.  Your request is handled in accordance with Federal Fair Credit Reporting Act procedures.  If you question the accuracy of the information provided by MIB, you may contact MIB and seek a correction.  MIB's information office is: MIB, Inc., 50 Braintree Hill Park, Suite 400, Braintree, MA 02184-8734, telephone (866) 692-6901 (TTY 866-346-3642).  Information for consumers about MIB may be obtained on its website at www.mib.com.


For NM Residents: Protected persons1 have a right of access to certain Confidential abuse information2 we maintain in our files and they may choose to receive such information directly.  You have the right to register as a Protected person by sending a signed request to the Administrator at the address listed on the application.  Please include your full name, date of birth and address.

1Protected person means a victim of domestic abuse:  who has notified us that he/she is or has been a victim of domestic abuse; and who is an insured person or prospective insured person.

Confidential abuse information means information about:  acts of domestic abuse or abuse status; the work or home address or telephone number of a victim of domestic abuse; or the status of an applicant or insured as family member, employer or associate of a victim of domestic abuse or a person with whom an applicant or insured is known to have a direct, close, personal, family or abuse-related relationship.

New York Life Insurance Company


How Your Assignment of Dividends to ABE Works - Your Plan's Unique Charitable Giving Feature

Founded in 1942, the American Bar Endowment (ABE) is a §501(c)(3) not-for-profit organization composed of members of the American Bar Association, who are also members of the American Bar Endowment. ABE makes annual grants to fulfill its charitable purpose of improving the administration of justice, one of the legal profession's highest obligations. These grants support research, public service and educational projects in the field of law including those of the American Bar Foundation and the ABA Fund for Justice and Education. ABE also maintains the Legal Legacy Fund for the support of its grantees. By participating in ABE's group insurance programs, designed for and available only to ABA members, members can contribute to these efforts. ABA members who enroll in ABE-sponsored insurance programs agree that their share of any dividends payable on the group policies may be retained by ABE for its charitable purposes unless reclaimed as outlined below. Donations of dividends to ABE are tax-deductible to such members to the fullest extent permitted by law as contributions under Section 170(c) of the Internal Revenue Code.

Members who donate dividends to ABE make a difference. These funds, after administrative expenses, are the primary source of ABE's annual charitable grants and additions to the Legal Legacy Fund. Insured members who donate their dividends help meet their professional and public responsibilities, as well as obtaining valuable coverage for their families. Almost 85% of members donate their dividends; these members are notified each year by late January of the amount, if any, of their dividend donation for the prior year. (Dividends are not guaranteed, and in any given year, a given plan may not pay a dividend; dividends will vary from year to year.)

Members who wish to request a refund of their dividends may do so. The approximate percentage of premium available for refund (if any) on each plan will be published in each November issue of the ABA Journal. Members do not need to wait for this information as refund requests are accepted beginning January 1. To request that dividends be paid to you rather than donated to ABE: After the first policy year of your participation, a written request for refund (by mail or email to dividends@abendowment.org) must be made each year and must reach ABE by December 15. When ABE receives your refund request, we will send a confirmation. Retain this for your records as proof your request was timely received. If you do not receive a confirmation within 3 weeks, contact the ABE promptly to obtain another copy. (Special instructions for new applicants are contained in the application and apply to dividends, if any, during the first policy year only.)

Dividend checks and/or contribution notices for your tax return are mailed by late January. If you receive a contribution notice and you did not intend to make a contribution, you may request a one-time waiver of the December 15 deadline by asking for a refund, if you have not previously requested such a waiver.

Please note: Members who do not want to contribute dividends to ABE must make a written request for refund each year, using the procedures noted above. When members sign an application for insurance, they are agreeing to make an annual decision whether to contribute.

THIS IS A SUMMARY of the principal provisions of these group insurance plans offered through American Bar Endowment for its members. IT IS NOT TO BE CONSIDERED A CONTRACT OF INSURANCE. The complete terms of the plans are set forth in the Group Policy G-2766-4 issued by New York Life Insurance Company to the American Bar Endowment.

Bonnie Czarny (ABE), is licensed in AR, Ins. Lic. #404091 and in CA., Ins. Lic. #0H99426.

We will be happy to answer your questions. Just call 800-621-8981 or email us at information@abendowment.org.


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