Frequently Asked Questions
NAR ART Guaranteed Issue (GI)
Basic Info:
- Available for application to ages 20 through 49, first-time NAR members in good standing, within the first 180 days of membership
- Can be retained through age 75
- Available in all states except State Availability Sheet for NYL – see GI tab
- Rates are as follows: GI Rate sheet
How do I apply for more coverage, or add coverage later?
Simply call 844.927.0527 or visit the life insurance page on the REALTORS® Insurance Place website
Can I add family members?
This coverage is available to the member only. HOWEVER, other group life coverage options are available to members and family members too here
What type of payment method is accepted?
You can pay using your bank account, and soon we will be adding a handy credit card option as well
How often am I billed?
Monthly billing is available as well as an annual payment option. We can easily establish an automatic withdrawal form your account – just ask for details!
Can I cancel if I change my mind?
You have a 30-day free look period with a refund of any premium paid if you cancel within that 30 days
Do I need a medical exam?
No. No medical Exam is needed for coverage with this plan
Can I be declined?
No. The eligibility requirements are that you are a first time NAR member in good standing, within the first 180 days of membership and that you are between the ages of 20 through 49 (Restating eligibility requirements)
How long does my coverage last?
Coverage remains in place until you reach the age of 75 as long as premiums are paid, or unless you terminate the coverage
What if I change agencies/brokers, etc?
There is no change to your coverage if you switch brokerage opportunities, or if you form your own company. As long as meet the eligibility requirements, and your premiums are paid, you retain coverage
Does smoking disqualify me?
No. We do ask about smoking, but this does not impact your ability to obtain coverage.
Is the application secure?
Yes, all information is entered through a secured server
NYL Mature Group Term Life (ART) FAQ
Basic info:
- Available for application to ages 60 through 74
- Coverage can be retained to age 95
- Available in all states except: State Availability Sheet for NYL (this is tab #4)
- Rates are as follows: Rate sheet
How do I apply for more coverage, or add coverage later?
Simply call 844.927.0527 or visit the Simply call 844.927.0527 or visit the life insurance page on the REALTORS® Insurance Place website
Can I add family members?
This coverage is available to the member as well as spouses based on age requirements. Learn more regarding details here
What type of payment method is accepted?
You can pay using your bank account, and soon we will be adding a handy credit card option as well
How often am I billed?
Monthly billing is available as well as an annual payment option. We can easily establish an automatic withdrawal form your account – just ask for details!
Can I cancel if I change my mind?
You have a 30-day free look period with a refund of any premium paid if you cancel within that 30 days
Do I need a medical exam?
There are medical questions within the application, and further tests may also be required based on the amount of coverage requested.
Can I be declined?
Yes. Coverage levels include Preferred, Select, and Standard and are based on Health and Smoking status. Should a decline occur, there is an appeals process.
Does smoking disqualify me?
No. We do ask about smoking, but this does not impact your ability to obtain coverage.
How long does my coverage last?
Coverage remains in place until you reach the age of 75 as long as premiums are paid, or unless you terminate the coverage
What if I change agencies/brokers, etc?
There is no change to your coverage if you switch brokerage opportunities, or if you form your own company. As long as meet the eligibility requirements, and your premiums are paid, you retain coverage
Is the application secure?
Yes, all information is entered through a secured server
Effective Date of Coverage
Insurance will take effect on the date specified by the administrator provided your application is approved by New York Life Insurance Company, the initial contribution is paid within 31 days after you are billed and any person to be insured is performing normal activities of a person in good health of like age on the day of approval. If the person to be insured is not performing the normal activities of a person in good health of like age, insurance will take effect on the day the proposed covered person is performing such normal activities if still eligible to obtain the insurance on that day.
When Coverage Ends
Your insurance can remain in force until you reach age 75, and for your insured spouse as long as they remain eligible, provided:(a) you continue to pay premium contributions when due; (b) the group policy is not terminated or modified by the policyholder to end insurance for the group of insureds to which the member belongs, Note: coverage may continue under a similar NYL policy, and (c) the insured does not request to terminate insurance. In addition, dependent coverage will terminate when the dependent spouse ceases to be an eligible dependent.
Exclusions
Suicide, attempted suicide or intentionally self-inflicted injury, whether sane or insane, during the first two years of coverage (one year for residents of Missouri) is limited to a refund of total premiums paid.
This is a brief description of the policy principal provisions and features. The complete terms and conditions including features, costs, eligibility, renewability, limitations & exclusions are set forth in the group policy issued by New York Life Insurance Company to the National Association of REALTORS. A Certificate of Insurance summarizing your benefits under the plan will be sent upon approval of your application. NAR is compensated in connection with this sponsored group policy to provide and maintain this valuable membership benefit.