Mature Group Term Life Insurance

Exclusively for members of the National Association of REALTORS® age 60+

Details and Exclusions

Matrue Group Term Life Logo for REALTORS

Available to members ages 60+

REALTORS® Mature Group Term Life Insurance – Coverage Details

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 95, 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.

IMPORTANT NOTICE: This coverage is not intended to be a federally tax-qualified long-term care insurance contract under Internal Revenue Code (IRC) Section 7702B. Therefore, the premiums payable do not qualify as long-term care insurance premiums and are not deductible from gross income for federal income tax purposes. A Chronic Illness or Permanent Critical Condition acceleration is subject to the federal per diem limits set forth in IRC Section 7702B. Under this acceleration, New York Life will not pay claimants more than the federal per diem limits. Assuming the amount you receive in the aggregate from all applicable policies does not exceed the federal per diem limits set forth in IRC Section 7702B, the benefits provided by the Chronic Illness or Permanent Critical condition acceleration are intended to be excludable from federal gross income under Section 101 (g) of the IRC. 

Receipt of an accelerated death benefit may affect eligibility for Medicaid or other government benefits or entitlements and may have income tax consequences. Accelerating benefits before applying for these programs, or while you are receiving government benefits, may affect your initial or continued eligibility. Clients can contact the appropriate social service agency (e.g., the Medicaid Unit of your local Department of Public Welfare or the Social Security Administration Office) for more information.


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.

REALTORS® Life Insurance Products

This is a brief description of the policy’s 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 will be sent upon approval of your application. NAR is compensated in connection with this sponsored group plan to provide and maintain this valuable membership benefit.

NAR-sponsored Annual Renewable Group Term Life Insurance is underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010, under Group Policy No. G-31002-0/1 on Policy Form GMR-FACE.

New York Life is licensed/authorized to transact business in all of the 50 United States, the District of Columbia, Puerto Rico and Canada. Not all group plans it underwrites are available in all jurisdictions. New York Life’s state of domicile is New York, and NAIC ID3 is 66915.

*This coverage is available only for residents of the U.S. (Currently not available in: Alaska, Ohio, except territories)

SMRU: 5034082.3

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