Life Insurance and
Critical Illness
Insurance
Underwritten by New York Life Insurance Company
Providing financial protection for your
loved ones with life insurance
Through your dedication to patient care, you have built a successful orthodontic practice and are able to provide for your family. To ensure your family’s financial well-being should something happen to you, you can count on AAO’s Group Level Term Insurance or Group Term Life Insurance, administered by Lockton Affinity.
Group Level Term Life Insurance
Group Level Term Life Insurance can be best for longer term needs, as your premium remains constant for the initial 10- or 20-year term.
Coverage benefits
for AAO members
Health discount
If you’re healthy, you may qualify for a lower, Super Preferred rate.
Policy volume discounts
Receive volume discounts when you apply for $500,000 or $1,000,000 of coverage.
Consistent benefit amount
Your rate will not increase for the initial 10 or 20 years, depending on which policy you select.
Multiple
coverage options
Choose your coverage amount from $100,000 to $3,000,000 in $10,000 increments for the 10 Year Level Term Life coverage and in $50,000 increments for the 20 Year Level Term Life coverage.
Accelerated
death benefit*
Request up to 50% of your death benefit before your passing if you are diagnosed with a terminal illness.
Spouse and dependent
coverage
Apply for up to $1,500,000 for your lawful spouse and up to $10,000 for your eligible dependent children.
Group Term Life Insurance
Group Term Life Insurance is often best for young individuals who wish to cover short-term debts, such as a business loan or mortgage, as coverage is more budget friendly early on. Premiums will increase gradually at first and more rapidly as you get older.
Coverage benefits
for AAO members
Multiple
coverage options
Choose your coverage amount from $100,000 to $3,000,000 in $10,000 increments.
Accelerated
death benefit
Request up to 50% of your death benefit before your passing if you are diagnosed with a terminal illness.
Spouse and
dependent coverage
Apply for up to $1,500,000 for your lawful spouse and up to $10,000 for your eligible dependent children.
Inflation guard option
Increase your coverage amount by 10% per year for 10 years, without medical questions, to help ensure your coverage keeps pace with inflation.
Chronic illness rider
Add chronic illness coverage, for an additional premium, which allows you to access your benefits while still alive if you are considered chronically ill.
For more information including features, costs, eligibility, renewability, limitations and exclusions, click here.
*Please note that receipt of Accelerated Death Benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should consult with the appropriate social services agency and seek the advice of a qualified tax advisor.
Group Critical Illness Insurance
To supplement your Group Term Life Insurance, consider applying for Critical Illness Insurance. This extra level of protection can help alleviate the financial burdens of an illness like cancer, heart attack, major organ transplant, renal failure or stroke.
New York Life Insurance Company’s Group Critical Illness Insurance can help provide the support you’ll need to deal with an unexpected illness and help cover the substantial healthcare costs associated with it.
Coverage benefits for
AAO members
Simplified issue
Answer only a few health questions. Physical exams and medical tests are not required.
Generous coverage
amounts
Receive up to $100,000 per critical illness or up to $200,000 for two separate, distinct illnesses.
No benefit cutbacks
Benefit amounts will not decrease with age.
For more information including features, costs, eligibility, renewability, limitations and exclusions, click here.