Disability Income Insurance

Disability Income Insurance  

Overview

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 Plan exclusively for ASHP members.
 

Even if you have some disability insurance through your employer, or if you are self-employed, it may not be enough. Many employers provide only a short-term salary continuation plan or short-term disability income plan. This Plan can be used to supplement benefits provided by your employer plan or as primary protection. This Plan is designed to provide you with a regular monthly income when you are totally disabled and unable to work as the result of an illness or injury.

 

How to Apply

  1. Complete the Application Form. It is extremely important that you answer fully the questions about medical history on this form. New York Life will rely upon your answers, and failure to provide complete and truthful information may invalidate coverage. Please note that New York Life retains the right to request additional medical information and may contact you directly.

     

  2. Mail the Application Form to this address:
    ASHP Group Insurance Program
    P.O. BOX 10374
    Des Moines, IA 50306-8812

    Residents of Puerto Rico:
    Please send your completed application and check for the initial premium to:
    Global Insurance Agency, Inc.
    P.O. Box 9023918
    San Juan, PR 00902-3918
Forms

Insurance Enrollment Form and Brochure

These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing.
SMRU #1837128

Tell me more

Eligibility

ASHP members and their lawful spouses/domestic partners, under age 60 who are at FULL–TIME WORK are eligible to request coverage. Persons on active duty in the armed forces are not eligible to apply.

"FULL–TIME WORK" means the active performance of the regular duties of your normal occupation for pay or profit on the basis of at least 30 hours per week at the place such duties are performed.

This coverage is only available for residents of the United States* (except territories) and Puerto Rico. However, members on active duty in the armed forces are not eligible.

 

*Coverage is not available in all states at this time. Contact the Administrator about availability in your state.

 

Helps Protect You as a Pharmacist

You will be considered totally disabled, during the waiting period beyond if you are prevented by illness or injury performing the material and substantial duties of your regular occupation.

 

You must be under the regular care of a physician (other than yourself) and must not be engaged in the full-time practice of law.
 

 

Choice of Plans

You can choose either the Plan 5/5 or the Plan 65/65. The maximum monthly coverage amounts for which members may apply according to age are:

You may apply for benefits ranging from $100 to $4,000 a month, in $100 units. However, the option you choose, together with any other disability income insurance you have or for which you're applying, cannot exceed 60% of your AVERAGE MONTHLY INCOME.

 

AVERAGE MONTHLY INCOME means your wages, salaries, commissions, fees and other amounts received for personal services — before deduction of income or social insurance taxes and after deduction of normal business expenses which are deductible for income tax purposes — for the immediately preceding period that produces the highest figure:

 

1. preceding tax year; 2. preceding two tax years, or; 3. the entire period, if less than 12 months.
It does not include income from interest, dividends, rent, royalties, annuities, other insurance or other unearned income.

 

 

The Plan 5/5

The Plan 5/5 option will pay benefits up to five years for covered disabilities due to accident or illness that begin prior to age 60, up to age 65 for disabilities beginning on or after age 60 but before age 64, (Spouses are eligible for Plan 5/5 only.)

 

The Plan 65/65

The Plan 65/65 option will pay benefits up to age 65 for covered disabilities due to accident or illness that begin prior to age 64.

 

For both options, a total disability occurring on or after age 64, but prior to age 70, will pay benefits for up to 12 months.

 

Monthly benefits will be paid up to the maximum benefit period selected. Monthly benefits under either plan will end on the date you fail to give required proof of continuing disability, your disability ends, the maximum benefit period ends or you die.

 

Choose the Waiting Period

The Waiting Period is the number of consecutive days you must be totally disabled before benefits can begin. You can request that benefits begin on the 31st or 91st day of your disability. The longer you choose to wait, the more economical your premium will be.  

 

Waiver of Premium

If you suffer a disability for which you are receiving benefits under this Plan prior to age 60, and you have been receiving benefits for that disability for at least six months, 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.
 

 

ADDITIONAL PLAN INFORMATION

Effective Date

Insurance for the Disability Income Plan becomes effective on the first of the month after the date the application is approved by New York Life Insurance Company, provided the first premium is paid when due. You must be at FULL-TIME WORK on the date the insurance is to take effect. If not, insurance will take effect on the day you resume such work.

 

When Coverage Ends

A person’s insurance will end at the earliest of the date the group policy ends or is modified to end coverage 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 WORK for reasons other than total disability; the covered person commences full-time active military duty; the premium due date coinciding with or next following the date the person ceases to be an ASHP member or; the premium due date coinciding with or next following the date the person attains age 70; or with respect to spouses, the date the marriage ends by divorce or annulment.

 

Exclusions

No benefits are payable for any period of disability during which the insured person is not under the direct care and treatment of a licensed physician. Moreover, no benefits are payable for any disability which is due or related to: intentionally self-inflicted injury whether sane or insane; military service, war or act of war; normal pregnancy or childbirth (complications of pregnancy are covered); committing a crime or an attempt to do so.

 

YOUR COST

Competitive Current 2020 Semiannual Group Rates per $100 of Coverage

 

 

PLAN 5/5

PLAN 65/65

AGE

30-Day Waiting Period

60-Day Waiting Period

30-Day Waiting Period

60-Day Waiting Period

Under 30

$3.20

$1.45

$7.79

$3.22

30—34

$4.10

$1.80

$10.79

$4.24

35—39

$5.75

$2.70

$15.67

$6.61

40—44

$7.70

$4.10

$21.29

$9.02

45—49

$9.85

$6.10

$26.44

$12.91

50—54

$12.50

$9.10

$30.23

$18.18

55—59

$16.70

$13.90

$31.76

$20.86

60—64*

$23.96

$14.67

$23.97

$14.67

64—69*

$18.03

$10.89

$18.03

$10.89

 

*For renewal only, you must be under age 60 to apply. Premiums are based on your age when insurance becomes effective and increases as you enter a new age category. To determine your premium multiply the number of $100 increments by the premium noted for the waiting period you select. Insurance terminates on the premium due date coinciding with or next following the date you attain age 70.

 

If applicable, an additional $2 billing fee will be included on your billing notice payable to the administrator. To save the fee, select Electronic Funds Transfer (EFT) as a safe and secure payment option.

 

Your cost is based on your age when coverage becomes effective and increases each January 1st on or after you reach a higher age bracket.

 

The premium contributions shown reflect the current rate and benefit structure. Premium contributions may be changed by New York Life Insurance Company on any premium due date and any date on which benefits are changed. However, your rates may change only if they are changed for all others in the same class of insureds. For example, a class of insureds is a group of people with the same issue age. Benefit option amounts are not guaranteed and are subject to change by agreement between New York Life and the American Society of Health-System Pharmacists.

 

30-DAY FREE LOOK

When you become insured, you will be sent a Certificate of Insurance, summarizing your coverage. This website is only a brief description of some of the plan’s principal provisions and features. The complete terms are set forth in the group policy issued by New York Life Insurance Company to the American Society of Health-System Pharmacists.

If you’re not completely satisfied with the terms of your Certificate of Insurance, you may return it, without claim, within 30 days. Your coverage will be invalidated, and you will be sent a full refund, no questions asked!
 

  • IMPORTANT NOTICE

    How New York Life Insurance Company Obtains Information and Underwrites Your Request for Group Disability Income 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.

    Your AUTHORIZATION may be used for a period of 24 months from the date you signed the application for insurance, unless sooner revoked. The AUTHORIZATION may be revoked at any time by notifying New York Life in writing at the address provided. Your revocation will not be effective to the extent New York Life or any other person already has disclosed or collected information or taken other action in reliance on it, or to the extent that New York Life has a legal right to contest a claim under an insurance certificate or the certificate itself. The information New York Life obtains through your AUTHORIZATION may become subject to further disclosure. For example, New York Life may be required to provide it to insurance, regulatory or other government agencies. In this case, the information may no longer be protected by the rules governing your AUTHORIZATION.

    MIB and other insurance companies may also furnish New York Life, its subsidiaries or the Plan Administrator with non-medical information (such as driving records, past convictions, hazardous sport or aviation activity, use of alcohol or drugs, and other application 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 the Plan Administrator, other insurance companies to which you may apply for life and health 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 conceiving 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 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 Plan Administrator 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 Insurance 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 the 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 1-866-692-6901 (TTY 1-866-346-3642).

     

    New York Life Insurance Company


    8/12 ed.

Contacts

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

 

Administered by:

 Address
Mercer Consumer
12421 Meredith Drive
Urbandale, IA 50398
 Phone
1-800-503-9230
 Hours
 M-F 7a-5p, Sat 8a-1p CT
 Email
customerservice.service@mercer.com

Underwritten by:

 Address
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010

Under Group Policy No. 30971-0 on
Policy Form GMR-FACE/G-30971-0.
 Website
http://www.mercer-web.com/products/nyl/nyl.html

Rating Agencies Disclaimer

FAQS

Answers about the plan, including eligibility, options, enrollment, customer service and more.
  • By whom is this plan underwritten?

    Underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 under Group Policy No. G-30970-0 on Policy Form GMR-FACE/G-30970-0.

     

    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.

  • How much disability income insurance should I consider?

    This depends on a number of factors including: the disability benefits that you may receive from your employer, the amount of private disability income insurance you may have in force, plus the household income that will continue during your disability.

  • Who is eligible for this insurance?

    ASHP members and their lawful spouses/domestic partners, who are under age 60, at FULL-TIME WORK and not on active military duty can request coverage, provided they reside in the United States* (except territories) and Puerto Rico. However, members on active duty in the armed forces are not eligible.

     

     

     

    *Coverage is not available in all states at this time. Contact the Administrator about availability in your state.

     

  • What are my benefit options?

    The Plan 65/65 option will pay benefits up to age 65 for covered disabilities due to accident or illness that begin prior to age 64.

    The Plan 5/5 option will pay benefits up to five years for covered disabilities due to accident or illness that begin prior to age 60, up to age 65 for disabilities beginning on or after age 60 but before age 64.

     

    For both options, a total disability occurring on or after age 64, but prior to age 70, will pay benefits for up to 12 months.


    Monthly benefits will be paid up to the maximum benefit period selected. Monthly benefits under either plan will end on the date you fail to give required proof of continuing disability, your disability ends, the maximum benefit period ends or you die. You may apply for benefits ranging from $100 to $4,000 a month, in $100 units for either plan.

  • What is the waiting period?

    The Waiting Period is the number of consecutive day you must be disabled before your monthly benefits can begin. You can request that benefits begin on the 31st or 91st day of your disability. The longer you choose to wait, the more economical your premium will be.

  • What disabilities are covered?

    A Covered Disability is a Covered Total Disability and/or Covered Partial Disability, if such disability is not excluded in the Exclusions section. See Plan Details for more information.

  • When is the coverage effective?

    Insurance for the Disability Income Plan becomes effective on the first of the month after the date the application is approved by New York Life Insurance Company, provided the first premium is paid when due. You must be at FULL-TIME WORK on the date the insurance is to take effect. If not, insurance will take effect on the day you resume such work.

  • When does the coverage end?

    A person's insurance will end at the earliest of the date the group policy ends or is modified to end the date 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 WORK for reasons other than total disability; the covered person commences full-time active military duty; the premium due date coinciding with or next following the date the person ceases to be an ASHP member or; the premium due date coinciding with or next following the date the person attains age 70; or with respect to spouses, the date the marriage ends by divorce or annulment.

     

  • What if I have second thoughts after I apply?

    When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the Plan. If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it, without claim, within 30 days. Your coverage will be invalidated and you will be sent a full refund—no questions asked!

ASHP incurs costs in connection with this sponsored Program. To provide and maintain this valuable membership benefit, it is reimbursed for these costs. ASHP also receives a fee for the license of its name and logo for use in connection with this plan.

 

Underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 under Group Policy No. G-30970-0 on Policy Form GMR-FACE/G-30970-0.

 

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