NYL GBS has the coverage and support you need.
Accidents happen all of the time. In fact, 1 in 8 Americans are treated for accidents each year*, and accidents are the fourth leading cause of death in the U.S.** Not only could a serious injury or death be emotionally devastating to a family, it may also be difficult from a financial standpoint—especially given the fact that nearly two-thirds of Americans live paycheck-to-paycheck.*** That’s why it’s important to make sure you’re covered in case of an accident.
As a Cornell University employee, you have the opportunity to take advantage of the Personal Accident Insurance (PAI), which provides additional financial protection for covered injuries that are the result of a covered serious accident. It also covers the accidental loss of life.
*National Safety Council, “Injury Facts.” 2016 Edition.
**Centers of Disease Control, “Fastats – Leading Cause of Death.” March 2017.
***American Payroll Associations, “2016 Getting Paid in America Survey.” 2016.
You do. Personal Accident Insurance can help you pay expenses if you are seriously injured or killed in a covered accident. This coverage can help ensure that tragedy doesn't take both an emotional and a financial toll on your family. By purchasing personal accident insurance through your employer, you benefit from:
Keep in mind, this coverage shouldn’t be a replacement for life insurance or major medical insurance as it provides accident-only coverage.
Please read the plan information for a full disclosure of plan provisions, benefits, exclusions, limitations, and effective dates of coverage prior to making your selections.
You can Enroll for Personal Accident Insurance (PAI) by using the "Enroll Online" button. Or, you can Complete An Enrollment Application and submit to NYL GBS.
Complete, sign and date the enrollment application and return to NYL GBS at the address shown on the form.
If you have questions, please call 1.800.231.1193 to speak to a NYL GBS Customer Service Representative (Monday through Friday, 8 AM to 5 PM CST or 9 AM to 6 PM EST).
Who is Eligible for Coverage?
You're eligible for PAI if you are an active, regular full-time or part-time employee of Cornell University, scheduled to work a minimum of 1,000 hours per calendar year or more, or you worked 1,000 hours a year or more during the immediately preceding calendar year or 910 hours for County Extension faculty and staff.
If you buy coverage for yourself:
Your lawful spouse is eligible if he or she is under age 70.
Your unmarried dependent children and your domestic partner’s unmarried dependent children are eligible if they are under age 19, or under age 25 if they are full-time students; or 19 years of age or older if primarily supported by the employee because of mental or physical handicap.
A child includes an Employee’s natural child, adopted child, beginning with any waiting period pending finalization of the child’s adoption, stepchild, child for whom the Employee is legal guardian as long as the child depends on the Employee for financial support.
No one may be covered more than once under this Policy. If covered as an employee, you cannot also be covered as a dependent.
How Much Coverage Can You Buy?
Select from $10,000 to $500,000 worth of coverage in $10,000 increments. If you select a benefit amount over $250,000, the amount cannot exceed 10 times your base annual salary.
Spouses can receive either 100% or 50% of the coverage amount you choose for yourself. The maximum coverage amount cannot exceed $250,000.
The coverage amount for children is 10% of your benefit amount. So if you elect $100,000 worth of coverage for yourself, your child’s coverage is $10,000. The maximum coverage amount is $25,000. Costs are the same, regardless of the number of children you insure.
Each family member’s coverage is a percentage of the benefit amount you select. It will depend on who your insured family members are at the time of a covered accidental loss.
How Much Will This Coverage Cost?
(Rates per $1,000)
(Rates per $1,000)
Rates are subject to change
If you select $250,000 of coverage for yourself, 50% benefit for your spouse and 10% for your dependent children, then:
|$250,000/$1,000 = 250
250 x $0.010 = $2.50 Monthly Cost
|For your Spouse:
|$125,000/$1,000 = 125
125 x $0.010 = $1.25 Monthly Cost
|For your Child(ren):
|$25,000/$1,000 = 25
25 x $0.010 = $0.25 Monthly Cost
The total monthly cost for you and your family would be $4.00 ($2.50 + $1.25 + $0.25).
As you grow older, your benefits will be reduced according to the following schedule:
If you elect coverage for your family members, Personal Accident Insurance benefits for your insured family members will be based on your selected benefit amount. Other plan benefits based on your selected amount will be determined by this reduction schedule. Coverage for your spouse/domestic partner ends when he or she reaches age 70. These reductions also apply if you elect coverage after age 69.
A Valuable Combination of Benefits
To help protect yourself and your family against losses due to accidents, Personal Accident Insurance pays 100% of the benefit amount you select for accidental loss of life occurring within 365 days of a covered accident. A covered accident is a sudden unforeseeable and external event that results in injury or death and that occurs while coverage is in force. To help survivors of tragic accidents adjust to new living circumstances, NYL GBS will pay benefits for dismemberment, loss of eyesight, speech and hearing, and paralysis.
|If, within 365 days of a covered accident, bodily injuries result in:
|NYL GBS will pay this % of the benefit amount:
You or Your Spouse/Domestic Partner
Accidental loss of life
Total paralysis of both upper and lower limbs
Loss of one hand, foot, or entire sight of one eye
Loss of thumb and index finger on same hand
Loss of all toes on the same foot
Only one benefit (the largest) will be paid for losses from the same accident.
Other Benefit Features
It’s not easy to predict how a serious accident will affect your family. Some accidents could seriously affect your finances—especially if extensive rehabilitation is needed. That’s why PAI gives you these additional benefits to help meet special needs.
We will pay benefits if you, or an insured family member, are seriously injured in a covered accident that results in dismemberment, loss of eyesight, speech and hearing, and paralysis. If you suffer multiple covered losses in one covered accident, you’ll receive only one benefit— the largest benefit to which you’re entitled.
We will pay double the child’s coverage amount if your insured child suffers an accidental injury. The maximum payment amount is $50,000.
If the child dies within 90 days of the accident, you will receive the death benefit only.
Personal Accident Insurance helps parents with children who survive severe accidents. This additional benefit can help parents cope with the ongoing financial obligations associated with caring for children who require continued medical attention, rehabilitation services and a specialized educational environment.
We will automatically increase the benefit amount by 10% if you or an insured family member die in a motor vehicle accident while wearing a seat belt. Maximum benefit is $10,000.
We will pay $1,000 if it isn’t clear whether the Insured had been wearing a seat belt.
Seat belt benefit applies to accidents occurring while driving or riding in a validly registered four wheel private passenger (or employer-owned) car, station wagon, jeep, pickup truck or van-type car. Seat belt must be properly fastened, factory installed/ manufacturer-approved.
If the insured is a child, while protected by a child restraint system as defined by state law.
No benefit will be paid if the official accident report is either not provided to us or it indicates that no seat belt was worn.
If you, your spouse, or your children have been in a coma for one full month as a result of a covered accident, we will pay a coma benefit, as shown in A Valuable Combination of Benefits.
We will make 11 monthly payments, provided the person remains in a coma during this period. If the person recovers, the payments will stop.
If the insured person dies while the monthly coma benefit payments are being made, or if the insured person remains in a coma after the 11 monthly payments have been made, he or she will be entitled to a lump sum payment equal to the full benefit amount.
Coverage Start and End Dates
Your coverage will start on the date we receive your completed and signed application and your payroll authorization form. If you’re not actively at work on your start date, we’ll defer your start date until you’re actively at work.
For your spouse’s coverage to become effective:
For your dependent children’s coverage to become effective:
Your coverage will end on whichever comes first:
Spouse or dependent children coverage will end on whichever comes first:
Changing from the Group Plan to Individual Coverage
Designating Your Beneficiary
You can designate your beneficiaries during the enrollment process and maintain your beneficiaries online once your coverage is issued by clicking on "My Account" at the top right corner of your screen.
If the listed beneficiary is a trustee or a trust, you will need to enter the trustee's name, the name of the trust and the date of the trust agreement. The trust document must be presented in order for the claim to be processed.
How Do I Pay My Premiums?
How Your Claims Are Paid
Below are steps to Access your Coverage Information:
If you are enrolled in GUL, contribute to the Cash Accumulation Fund and want to see your current fund balance (cash value), click on Group Universal Life Insurance from the list displayed.
Need a confirmation statement of current coverage?
Enroll online by clicking on the “Enroll Online” link under Option 1 above; this will speed up your enrollment process.
These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing. Click here to download a free copy of Adobe Acrobat Reader.
If you submit your enrollment application via a paper form, we will enter it into the NYL GBS Benefits Guide website so you can view it online through My Account.
If you submit your beneficiary designation via a paper form, we will enter it into the NYL GBS Benefits Guide website so you can view it online through My Account.
Use this form to make changes to the features and benefits of your plan, including reducing your coverage or cancelling coverage for your children.
The information requested in the forms below is required for us to begin reviewing your claim. It's important that you provide us with complete and accurate information to avoid a delay in the processing of your claim.
Below are steps to Access your Beneficiary Designations:
Do I have to provide proof of good health?
Who can enroll for Personal Accident Insurance?
How do I designate a beneficiary?