We get it. Insurance is confusing.
Because we believe in clear language over jargon.
Discover the facts of the NYSSCPA insurance with our quick quiz below.
False. If you want more coverage, your rates on the additional insurance will be higher based on your age at the effective date of the increase. But good news—your original coverage rates will not change.
False. If you want more coverage, your rates on the additional insurance will be higher based on your age at the effective date of the increase. But good news—your original coverage rates will not change.
False. From 2011 to 2020, only 31% of Social Security Disability Insurance (SSDI) claimants had their applications approved.1 And the average SSDI benefit for disabled workers as of May 2023 was $1,485.22 per month, which is below the poverty guideline for a three-person household.2
False. From 2011 to 2020, only 31% of Social Security Disability Insurance (SSDI) claimants had their applications approved.1 And the average SSDI benefit for disabled workers as of May 2023 was $1,485.22 per month, which is below the poverty guideline for a three-person household.2
True. We partner with a strong carrier to help protect your assets. Following are New York Life's current ratings for financial strength: Moody's Investor Service (Aaa), Standard & Poor's (AA+), Fitch Ratings (AAA), and A. M. Best (A++).*
True. We partner with a strong carrier to help protect your assets. Following are New York Life's current ratings for financial strength: Moody's Investor Service (Aaa), Standard & Poor's (AA+), Fitch Ratings (AAA), and A. M. Best (A++).*
False. If you are regularly and actively working at least 20 hours per week, you can receive disability benefits under the NYSSCPA Member Insurance disability policy.
False. If you are regularly and actively working at least 20 hours per week, you can receive disability benefits under the NYSSCPA Member Insurance disability policy.
False. Premiums are expected, but not guaranteed, to remain level until your 10- or 20-year term expires. At the end of the 10- or 20-year period, provided that you are under 65 for 10 year and 55 for 20 year and otherwise remain eligible, you may apply for a subsequent 10- or 20-year term of guaranteed level rates. If application is not approved, coverage will continue in force with premiums increasing as you age.
False. Premiums are expected, but not guaranteed, to remain level until your 10- or 20-year term expires. At the end of the 10- or 20-year period, provided that you are under 65 for 10 year and 55 for 20 year and otherwise remain eligible, you may apply for a subsequent 10- or 20-year term of guaranteed level rates. If application is not approved, coverage will continue in force with premiums increasing as you age.
True. Under this policy, disabilities resulting from pregnancy are treated just like any other disability. Pregnancy must have started more than 30 days following your effective date of coverage.
True. Under this policy, disabilities resulting from pregnancy are treated just like any other disability. Pregnancy must have started more than 30 days following your effective date of coverage.
1Social Security Administration, Annual Statistical Report on the Social Security Disability Insurance Program, 2022. Chart 11.
2Social Security Administration, Monthly Statistical Snapshot, 2022.
*Third-party rating reports as of 10/18/2022.
**NYSSCPA Group Term Life, 10 and 20 Term Life, Hospital Indemnity, Disability, and 50-Plus Term Life Insurance coverages are all underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 on Policy Form GMR. For more information including features, costs, eligibility, renewability, limitations and exclusions visit the website above.
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. Please check the eligibility sections for current availability. New York Life Insurance Company's state of domicile is New York, and NAIC ID is #66915.
NYSSCPA Group Member Insurance Program
1200 E. Glen Ave.
Peoria Heights, IL 61616
California Insurance License #0F76076
Arkansas Insurance License: #1322
Underwritten by New York Life Insurance Company, NY, NY 10010 on group policy form GMR.
For more information about NYSSCPA insurance, visit our website.