Group Term Life

Group Term Life  


Term Life insurance is one of the simplest forms of financial security. If you die, the benefits can help make sure your loved ones will be able to continue to pay current expenses—such as daily living expenses, mortgage and car payments—as well as meet future expenses such as college tuition. Typically, this type of insurance is ideal for single individuals with debt, couples and younger budget-conscious families.

Apply for coverage!


Apply for benefits amounts up to $1,000,000. QuickDecisionSM underwriting is available* on amounts up to $500,000!

*May not be available in all states.

Underwritten by New York Life Insurance Company

Your Family's Passport to Financial Security

Life insurance can be one of the cornerstones of financial planning. In the event of an unexpected or premature death, the ASME Group Term Life Insurance can help provide the financial security your family needs. This life insurance helps make sure they’ll be able to meet current expenses—such as mortgage and car payments—as well as future expenses such as college tuition.

Valuable Benefits

  • Valuable Coverage Enhancement: The benefit reduction age for the ASME Group Term Life Coverage is now 65. This means the full benefit amount you choose will stay in force until you reach age 65, which helps your coverage keep pace with your family's lifestyle.
  • Up to $1,000,000 of Member and Spouse Coverage (Note: spouse coverage may not exceed 100% of member coverage.)
  • Premium Credits–15% Premium Credit through April 30, 2023 Now through April 30, 2023, a 15% premium credit will apply to all premium contributions due.
  • Premiums Can Be Waived If You’re Disabled
  • No Exclusions! After coverage is validly in force for two years, benefits are payable for death from any cause, at any time, anywhere in the world. (Subject to U.S. government regulations on restricted countries.)
  • Portable Coverage This Policy offers portable coverage that can follow you throughout your career. Make all the career changes you want and still be able to maintain this valuable protection.

Living Benefit Option ("Accelerated Death Benefit") Enables you to apply for a portion of your benefits if you qualify as being terminally ill, subject to certain policy restrictions and limitations. These benefits are paid directly to you, and you may spend them any way you wish.

NEW! QuickDecisionSM Group Term Life Online Tool

ASME, New York Life Insurance Company and Association Member Benefits Advisors are pleased to announce QuickDecisionSM—a secure, fast and easy way to apply online for Group Term Life coverage.

With this new tool, you can apply* for amounts up to $500,000 in ASME Group Term Life Insurance:


  • No medical exam or lab work required—just answer some health questions and other information.
  • Find out as soon as TODAY if you are approved for Term Life Insurance coverage up to $500,000!
  • Everything is handled conveniently and securely online.


Need more? You can still save time and apply online for amounts up to $1,000,000 and we'll follow up quickly about required information.


*IMPORTANT NOTE: If you are not approved for coverage under the QuickDecisionSM tool you can still obtain coverage through the online process, which may require medical exams and other information. QuickDecisionSM is not available to residents of MO, MT, UT and Puerto Rico. These residents can still apply online, and will be contacted for required information.

Underwritten by New York Life Insurance Company, under Group Policy No. G-8700-1, on Policy Form GMR-FACE /G-8700-1.

Insurance Application & Additional Forms

These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing.




Answers about the program, including eligibility, options, customer service and more.

  • How do the rates work on the insurance coverage?


    The amount of life insurance for you and your spouse is based on your age at last birthday, and decreases on the semiannual premium due date (May 1 or November 1) coinciding with or immediately after you enter a new age category. After member age 65, coverage decreases for each $10,000 member and spouse option of insurance. Premiums do not reduce. (The amount of children's insurance does not decrease.)


    Member's Age Member/Spouse $10,000 Option
    Under 65 $10,000
    65-67 $7,500
    68 $5,200
    69 $4,800
    70 $4,400
    71 $4,000
    72 $3,700
    73 $3,400
    74 $3,200
    75 $3,000
    76 $2,800
    77 $2,600
    78 $2,400
    79 $2,200
    80 through 100 $2,000


    *Coverage terminates at member's age 100. Group Conversion Privilege.
    Benefit option amounts are not guaranteed and are subject to change by agreement between New York Life Insurance Company and the Trustee of Life Insurance Coverage for members of ASME.

  • How long does the application process take? When will my coverage become effective?

    For some policies, coverage becomes effective within a few days of receiving your application. For others, the process is longer because of required medical underwriting procedures. The "underwriting process" depends on many factors: the number of persons to be insured, their ages, the amount of coverage for which you apply, your medical history and that of your family members (if requesting dependent coverage), and the type of coverage requested.
  • Do I have to take a medical exam, blood test, etc.?

    Again, this depends on the coverage you are requesting, your age, the amount of coverage for which you apply, and your individual medical history.
  • Can coverage continue if I am out of the country?

    Call the administrator for more details as coverage varies depending on the policy.
  • Who recommends/approves benefit changes or premium changes?

    The insurance companies reserve the right to change rates. They report "coverage experience" (or the number and size of claims made) twice a year and, if applicable, rate action recommendations. Using this information, the Program administrator works with ASME to evaluate the recommendations and negotiate what, if any, rate action is appropriate to maintain each coverage's financial stability. ASME ultimately approves any rate action, or change in benefits.
  • Who is AMBA Administrators, Inc., the Administrator of the Program?

    Association Member Benefits Advisors (AMBA) is the company contracted to manage the Insurance Program. AMBA is not affiliated with the insurance companies that underwrite each policy.
  • Who is this coverage underwritten by?

    This coverage is underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010, under Group Policy No. G-8700-1, on Policy Form GMR-FACE/G-8700-1.


    About New York Life Insurance Company


    Rating Agencies Disclaimer

ID# 96762
Contact Us

We're here to help! Please contact us in whatever manner is most convenient for you.


Program Administrator

Program Administrator
AMBA Administrators, Inc.
4050 NW 114th Street
Urbandale, Iowa 50322
 M-F 7:30am-6pm CT


Application Mailing Address

Administrator, ASME Insurance Program
P.O. Box 10374
Des Moines , IA 50306-8812


Payment Mailing Address

Administrator, ASME Insurance Program
P.O. Box 10425
Des Moines , IA 50306-0425
AMBA's Role & Compensation