Group Term Life Rate Chart

Current Quarterly Premium Premium Rates Per $10,000*

Premium will vary with the amount of benefits.

RATES CURRENT AS OF 2007

For Member Benefit Amounts of:
Member Age A
$20,000-$90,000		 B
$100,000-$290,000		 C
$300,000-$490,000		 D
$500,000-$750,000
  Preferred Standard Preferred Standard Preferred Standard Preferred Standard
  Non-Smoker   Non-Smoker   Non-Smoker   Non-Smoker  
Under 30 $1.70 $2.50 $1.40 $2.10 $1.20 $1.90 $1.10 $1.80
30 - 34 $2.00 $2.80 $1.60 $2.40 $1.50 $2.20 $1.40 $2.10
35 - 39 $3.00 $4.50 $2.50 $3.70 $2.40 $3.40 $2.30 $3.20
40 - 44 $4.80 $6.70 $3.90 $5.60 $3.60 $5.10 $3.40 $4.80
45 - 49 $8.20 $12.40 $6.70 $10.20 $6.20 $9.40 $5.90 $8.90
50 - 54 $13.90 $20.50 $11.50 $16.90 $10.60 $15.70 $10.00 $14.90
55 - 59* $23.60 $29.20 $19.40 $24.10 $18.00 $22.30 $17.10 $21.20

 

For Spouse Benefit Amounts of:
Member Age A
$20,000-$90,000		 B
$100,000-$290,000		 C
$300,000-$490,000		 D
$500,000-$750,000
  Preferred Standard Preferred Standard Preferred Standard Preferred Standard
  Non-Smoker   Non-Smoker   Non-Smoker   Non-Smoker
Under 30 $1.60 $2.30 $1.30 $2.00 $1.10 $1.80 $1.00 $1.70
30 - 34 $1.80 $2.60 $1.60 $2.30 $1.40 $2.10 $1.30 $2.00
35 - 39 $2.50 $3.60 $2.00 $3.00 $1.80 $2.75 $1.70 $2.60
40 - 44 $3.40 $4.80 $2.80 $4.00 $2.50 $3.65 $2.40 $3.50
45 - 49 $5.80 $8.50 $4.80 $7.00 $4.40 $6.45 $4.20 $6.10
50 - 54 $10.00 $14.90 $8.20 $12.30 $7.60 $11.43 $7.20 $10.80
55 - 59* $16.90 $23.30 $14.10 $19.20 $12.90 $17.78 $12.20 $16.90

Click here for Group Accidental Death and Dismemberment Rates!

Although not promised or guaranteed, the Plan has a long history of earned dividends, which you should keep in mind in any rate comparisons.
Premium rates for member and spouse are based on the member's age when coverage becomes effective and increase on the June 1st on or next following a change in age as shown in the schedule. These are the current rates and reflect current benefit structure. New York Life reserves the right to change rates on any premium due date and on 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 under this group policy. For example, a class of insureds is a group of people with all the same issue age. Premiums will vary, depending on the option chosen.

Benefit options are not guaranteed and are subject to change by agreement between New York Life and ABE.

Due to rounding, premiums may differ by pennies when billed.

Child's Schedule of Benefits and Quarterly Premium: $5,000 coverage. One $2.50 quarterly premium covers all eligible dependent children regardless of number.

* See "Current Amounts of Life Insurance After Age 59". Contact the ABE for rates for ages 60-74. Coverage terminates on the policy anniversary on or next following the member's 75th birthday.

How to Calculate Your Quarterly Premium.

Example: 40-year-old non-smoker member applying for $750,000 in coverage under the Preferred category and $500,000 of Group Accidental Death and Dismemberment benefits. (Complete Group AD&D rate chart can be viewed via link above.)

  1. Number of $10,000 group term life options ($20,000 minimum) 75 units
  2. Multiplied by preferred rate for 40-year-old from column D X $ 3.40 = $255.00
  3. Plus $500,000 Accidental Death and Dismemberment Insurance (see chart for rates) $90.00
  4. Total quarterly group premium = $345.00

Underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 under Group Policies G-2766-3 and G-11461-0 on Policy Form GMR-FACE/G-2766-3 (Group Term Life) and G-11461 (Group AD&D).

We will be happy to answer your questions. Just call 1-800-621-8981 or e-mail us at information@abendowment.org