Short Term Disability Insurance

Group Short Term Disability Insurance Coverage Details and Exclusions

As an NAR Member, under age 60 you can apply for benefits up to $6,500 a month (not to exceed 60% of monthly income)

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 70, as long you 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 and Limitations
The following Exclusions apply to all benefits of the Policy.
This policy does not provide benefits for: any disability that occurs during or is due or related to intentionally self-inflicted injury while sane or insane; declared or undeclared war or any act thereof, military service, pre-existing condition (see above), or your incarceration for or participation (except as a victim) in an illegal occupation/activity or the commission of a crime; or a disability that occurs during, is due to or relating to the insured member travel in, on or fall from any aircraft while such aircraft is in flight, unless the insured member is traveling solely as a fare paying passenger on a licensed, commercial, regularly scheduled, non-military aircraft; a disability that does not require a doctor’s regular care, this will not apply if such care is no longer required for prudent medical management of the injury, sickness or organ donation; or any disability that is due or related to pregnancy or childbirth (except complications thereof), or any impairment or disease specifically excluded from your coverage.

No benefits will be paid unless the disability occurs while you are insured under the policy and you are under the care of a licensed physician or surgeon other than yourself (or member of your immediate family or household) during the period of disability.

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.

Important Definitions

Covered Total Disability: An incapacity that completely and continuously prevents the insured member from doing the material and substantial duties of his or her regular occupation during the waiting period and during the next twelve consecutive months.

Such Covered Total Disability must begin while the insured member is insured under the Policy and be the result of an injury sickness or organ donation. For a Covered Total Disability to be considered to have resulted from an injury, the Covered Total Disability must begin within 90 days after an accident, if the accident occurs while the insured member is insured under the Policy. If more than 90 days has elapsed, such Covered Total Disability will be considered to have resulted from a sickness. Organ donation insured member must be insured under the policy for at least 6 consecutive months on the day of donation.

Waiting Period is the initial, continuous period of a Covered Total Disability which must be completed before such Covered Total Disability benefits become initially payable.

Impairment Restriction is a disability that is due to or related to a condition which has an Impairment Restriction. However, at any time and at his or her own expense, the insured member can give medical evidence of insurability for a condition which has an Impairment Restriction. After review of such evidence, New York Life will determine: (a) if and when such Impairment Restriction should be removed or liberalized; or (b) if it should be continued.

Preexisting Condition is a disability that is classified as or related to a Preexisting Condition. An injury or sickness or any condition related to such injury or sickness for which a person has been medically diagnosed or treated by a doctor, including taking any medications during the six month period immediately before the insured members insurance date I.Preexisting Condition does not include: (a) any such injury or sickness or condition after such person has been continuously insured under the Policy for 12 months; or (b) an injury or sickness or condition classified as an Impairment Restriction.