Medical Student Term Life Insurance

Open Enrollment Dates: July 1 through December 31

Coverage Details

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Acceptance Guaranteed

Eligible medical students have guaranteed acceptance during the open enrollment ending December 31, 2023.

Choice of Benefit Levels

Select $100,000 of term life insurance coverage for just $40 a year or $50,000 of coverage for $20 a year. Spouse coverage is also available.

Double Benefits for Accidental Death

When death is due to a covered accident, your beneficiary is paid double the regular benefit.

Benefits for Loss of Sight or Limbs

This coverage pays up to the full regular benefit amount for the entire and irrecoverable loss of sight in both eyes, loss of two limbs or even the loss of use of two limbs due to a covered accident, loss of one limb and sight of one eye.  This insurance also provides the full benefit amount for entire and irrecoverable loss of speech or hearing.  One-half of the benefit is paid for the loss of one limb, or loss of its use, or loss of sight in one eye due to a covered accident. This coverage also provides half of the full benefit amount for loss of speech or hearing.  One-quarter of the benefit is paid for loss of thumb and index finger on one hand.

Premiums Waived if You Become Disabled

If you become totally disabled prior to age 50, and the disability lasts as least six (6) consecutive months, your premiums will be waived as long as the disability continues, up to age 50.

Coverage May Continue After Graduation

As long as premiums are paid when due, you can continue coverage through medical school even if your health condition changes. After graduation, you can continue at the preferred group physician rates without any medical approval.

Underwritten by:

New York Life Insurance Company
51 Madison Avenue, New York, NY 10010
On Policy Form GMR-FACE/G- 30610-0
Under Group Policy No. G-30610-0

You’re eligible to enroll in this coverage if you’re under age 40 and a full-time student of a medical school or an osteopathic medical school approved by an appropriate accrediting agency. What’s more, your spouse or domestic partner is eligible to enroll (if under age 40) – even if you don’t!

Your coverage will become effective on the first or fifteenth day of the month after we receive your enrollment form provided eligibility requirements are met, you are not hospitalized and the premium is paid when due.  If you or your spouse are hospitalized on the date insurance is to take effect, insurance will take effect the day after discharge provided eligibility requirements are still met.

Life Insurance: Benefits paid for death due to suicide, while sane or insane, during the first two years of coverage (Missouri residents 12 months) are limited to a refund of total premiums paid.

Accidental Death and Dismemberment Insurance: No benefits will be paid for injury resulting from flight in aircraft unless traveling solely as a passenger – however, this passenger requirement is not applicable if part of your job is to perform services in an aircraft for the purpose of medical transport; bacterial infections (except if such infections result from (1) accidental ingestion of contaminated material or (2) an accidental cut or wound) or any other kind of disease; war or any act of war, whether declared or not; mental or physical infirmity; medical, dental or surgical treatment that is not related to a covered accident; or suicide or intentionally self-inflicted injury while sane or insane; voluntary intake of alcohol or narcotics/controlled substances (unless taken as prescribed by a doctor other than yourself, business associate or family member).

Available in all states except Louisiana.

Carrier Information

Group Preferred Term Life Insurance is Underwritten by:

New York Life Insurance Company
51 Madison Avenue, New York, NY 10010
On Policy Form GMR-FACE/G-30610-0
Under Group Policy No. G-30610-0

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. Please check the applicable insurance brochures for current availability. New York Life’s state of domicile is New York, and NAIC ID# is 66915.

AMA Insurance incurs costs in connection with providing oversight and administrative support for this plan, and is reimbursed for these costs. The American Medical Association also incurs certain expenses in connection with the plan and is reimbursed for such expenses.

This website explains the general purpose of the insurance described, but in no way changes or affects the policy as actually issued. In the event of a discrepancy between this website and the policy, the terms of the policy apply. All benefits are subject to the terms and conditions of the policy. Policy underwritten by New York Life Insurance Company. Exclusions, limitations, reduction of benefits and terms under which the policy may be continued in full or discontinued are detailed in the Certificate of Insurance issued to each insured individual and complete details are in the Group policy issued to the policyholder. This program may vary and may not be available to residents of all states.

NOTICE FOR RESIDENTS OF MISSOURI: The policyholder of the group master policy for this insurance plan is the Trustee of the American Medical Association Group Insurance Trust. The banking institution that serves as the Trustee receives a reasonable fee in return for performing this service.

SMRU #1766472