Eligible members of VAEA and their spouses can apply for as much as $300,000 of Term Life Insurance at affordable group rates:

The VAEA Group Term Life Insurance Plan combines affordable group rates with high-limit protection. There are no extras such as cash loans or retirement income value to increase the cost. This is truly a no-frills group plan offering you one of the best life insurance values available.

Apply now and help erase the worry and concern for your loved ones’ financial future. If approved, you will have provided them with a no-nonsense, affordable, term life insurance plan.

Who Can Apply?

Any VA employee, under the age of 60, who is actively at work, can apply. A member must be actively at work on a full-time basis (30 or more hours per week) on the date his/her insurance is to take effect. If he/she is not, such insurance will take effect on the day the person resumes such activities.

You can also apply for coverage for your spouse and dependent children (15 days through age 20 or through age 23 if a full-time student). Dependents must be able to perform the normal activities of a person of like age, sex or retired status on the date the insurance is to take effect. If not, the insurance will take effect on the day the insured resumes such activities.

Affordable group rates.

The buying power of your VAEA membership makes this insurance budget- friendly. (You choose how much protection you need.) Member and Spouse can be covered from $10,000 to $300,000 in $25,000 increments. Children can be covered for up to $5,000.

NEW BENEFIT – Help Protect your family against inflation:

After six months of continuous coverage, you and your spouse can increase your original benefit amount by 10% on each policy anniversary date for the next 10 years (or until you reach age 70) provided you were medically underwritten and approved for coverage in the previous twelve months of the first offer. That means that if you start with $50,000 in coverage, you will have $100,000 of coverage 10 years from now. The maximum life insurance amount is $300,000. Premium increases with each offer accepted.

Complete details will be in your Certificate of Insurance.


Renewable to age 75 even if you retire.

As long as you make your payments on time, remain a member of VAEA, and the master policy is in force, you can keep renewing your insurance until age 75. Coverage for your spouse and children will end when they cease to be eligible or when your coverage ends. However, if your coverage ends because of death, dependent coverage can continue provided the premium is paid and they remain eligible.

Group Conversion Privilege.

If your insurance ends for a reason other than your request, non-payment of premium before age 75, or receipt of an Accelerated Death Benefit, you have the privilege of converting your group coverage to an individual policy of permanent life insurance (other than term) from New York Life during the conversion period without further evidence of insurability.

All applications for conversion must be made within 31 days after the date the individual becomes entitled to exercise the conversion privilege.

Waiver of Premium.

If an insured member becomes totally disabled prior to age 60, all premiums after six months of continuous disability will be waived and the insurance will continue in effect. Complete details will be available in your Certificate of Insurance.

An Accelerated Death Benefit*.

This attractive benefits provision is available to insureds under the age of 70. If you are diagnosed by a physician to be terminally ill, and have 12 months** or less to live, you may elect to receive up to 50% of your group life insurance benefit. The remaining benefit then becomes payable to your beneficiary after your death.

Complete details will be available in the Certificate of Insurance. Receipt of this benefit may affect eligibility for public assistance programs and may be taxable. Prior to applying you should consult with the appropriate social services agency and your tax advisor.

* Not available to Residents of Massachusetts ** 24 months for Residents of Illinois.

Effective Date

Coverage becomes effective on the first day of the month coinciding with, or immediately following, the date your request for coverage is approved by New York Life Insurance Company, and the full premium for the insurance is received.

Benefits and Exclusions

New York Life will pay the amount of your insurance to your beneficiary if you die from any cause anywhere in the world. The only exclusions are for misrepresentation of facts on your application and for suicide in the first two years of coverage. Residents of Missouri: Benefits will not be paid for suicide within the first two years if New York Life can show that suicide was intended at the time of application. You name your beneficiary. You are the automatic beneficiary for dependent coverage.

Please Contact Us with any questions, or learn more about applying to VAEA Group Term Life if you are ready to get started!
Important Notice:How New York Life Obtains Information and Underwrites Your Request Group Life Insurance

Information regarding insurability will be treated as confidential. In considering your request for insurance, we will rely on the medical information you provide, and on the information you authorize us to obtain from your physician, other medical practitioners and facilities, other insurance companies to which you have applied for insurance and MIB, Inc. (formerly known as Medical Information Bureau). MIB and other insurance companies may also furnish New York Life, its subsidiaries or the Plan Administrator with non-medical information (such as driving records, past convictions, hazardous sport or aviation activity, use of alcohol or drugs, and other applications for insurance). The information provided may include information that may predate the time frame stated on the medical questions section, if any, on this application. This information may be used during the underwriting and claims processes, where permitted by law.

Your AUTHORIZATION may be used for a period of 24 months from the date you signed the application for insurance, unless sooner revoked. The AUTHORIZATION may be revoked at any time by notifying the Administrator in writing at the address provided. Your revocation will not be effective to the extent New York Life or any other person already has disclosed or collected information or taken other action in reliance on it, or to the extent that New York Life has a legal right to contest a claim under an insurance certificate or the certificate itself. The information New York Life obtains through your AUTHORIZATION may become subject to further disclosure. For example, New York Life may be required to provide it to insurance, regulatory or other government agencies. In this case, the information may no longer be protected by the rules governing your AUTHORIZATION.

New York Life may release this information to the Plan Administrator, MIB, other insurance companies to whom you may apply for insurance, or to whom a claim for benefits may be submitted and to others whom you authorize in writing. However, this will not be done in connection with information concerning Acquired Immune Deficiency Syndrome (AIDS) or Human Immunodeficiency Virus (HIV).

New York Life will not disclose such information to anyone except those you authorize or where required or permitted by law. We may make a brief report to MIB; however, we will not disclose our underwriting decision. Information in our files may be seen by New York Life and Plan Administrator employees, but only on a “need to know” basis in considering your request. Upon receipt of all requested information, we will make a determination as to whether your request for insurance can be approved.

MIB is a not-for-profit organization of insurance companies, which operates an information exchange on behalf of its members. When you apply for insurance or submit a claim for benefits to a MIB member company, medical or non-medical information may be given to the Bureau, which may then be furnished to member companies.

If we cannot provide the coverage you requested, we will tell you why. If you feel our information is inaccurate, you will be given a chance to correct or complete the information in our files. Upon written request to New York Life or MIB, you will be provided with non-medical information. Generally, medical information will be given either directly to the proposed insured or to a medical professional designated by the proposed insured. Your request is handled in accordance with the Federal Fair Credit Reporting Act procedures. If you question the accuracy of the information provided by MIB, you may contact MIB and seek a correction. MIB’s information office is: MIB, Inc., 50 Braintree Hill Park, Suite 400, Braintree, MA 02184-8734, telephone (866) 692-6901 (TTY 866- 346-3642). For Canadian residents, the address is: MIB Information Office, 330 University Avenue, Suite 501, Toronto, Ontario, Canada M5G 1R7, telephone (416) 597-0590. Information for consumers about MIB may be obtained on its website at www.mib.com.

This summary is a brief summary of benefits only and is subject to the terms, conditions and limitations of Group Policy No. G-29296-0.

For NM Residents:  PROTECTED PERSONS (1) have a right of access to certain CONFIDENTIAL ABUSE INFORMATION (2) we maintain our files and they may choose to receive such information directly. You have the right to register as a PROTECTED PERSON by sending a signed request to the Administrator at the address listed on the application. Please include your full name, date of birth and address.

(1) PROTECTED PERSON means a victim of domestic abuse: who has notified us that he/she is or has been a victim of domestic abuse; and who is an insured or prospective insured.

(2) CONFIDENTIAL ABUSE INFORMATION means information about: acts of domestic abuse of abuse status; the work or home address or telephone number of a victim of domestic abuse; or the status of an application or insured as family member, employer or associate of a victim of domestic abuse or a person with whom an applicant or insured is known to have a direct, close personal, family or abuse-related counseling relationship.

Brokered and Administered by:
Mass Benefits Consultants, Inc.
P.O. Box 828
Annandale, VA 22003-0828
Call Toll-Free – 1-800-221-3083

Underwritten by:
New York Life Insurance Company 51 Madison Avenue
New York, New York 10010
on policy form GMR

New York Life Insurance Company has received the highest possible ratings for financial strength from some of the industry’s principal rating entities: A.M. Best A++ (Superior), Fitch Ratings (AAA), Moody’s Investors Service (Aaa) and Standard and Poors (AAA).*

*Source: Individual Third Party Rating Reports (as of 3/17/09)

Although every attempt has been made to verify the accuracy of the information contained on this website, errors and omissions may occur. You will receive a certificate of insurance describing the exact coverage and benefits purchased. This website explains the general purposes of the insurance described, but in no way changes or affects the insurance afforded under the group insurance policy actually issued. All coverage is subject to the actual policy conditions and exclusions