2007-2008 IEEE Multiplan Brochure

The IEEE Group 20-Year Level Term Life Insurance Plan L L L L L You name your beneficiary How to Calculate Your Cost Premium contributions for IEEE Group 20-Year Level Term Life Insurance are based on the member’s and spouse’s gender, amount of insurance requested, usage of tobacco/nicotine products, health status and attained age on the date coverage is issued. Only nonsmokers meeting the highest Pay less if underwriting standards will qualify for “Preferred” you’re a qualified rates. Other nonsmokers may qualify for higher nonsmoker “Select” or “Standard” rates. [Note: Smokers qualify for Standard rates only.] Upon approval of your application, you will be notified of the rate classification for each approved person. Do not send any money until New York Life Insurance Company has approved your application and notifies you of the appropriate premium contribution due based on the information you provided. Your beneficiary is the person(s) last designated by you in writing, and recorded by or on behalf of New York Life Insurance Company. You are the automatic beneficiary for dependent child insurance, as described in the Certificate of Insurance. If you wish to designate another beneficiary for spouse coverage, contact the Administrator for the applicable forms. Your proceeds remain liquid, earn interest The Plan features a valuable Continued Interest Account, which means death benefits to a beneficiary, if the IEEE Member wishes, will be placed in an interest-bearing account. Your beneficiaries can take their time evaluating their future financial plans, secure in the knowledge they may withdraw any or all of the death benefit proceeds at any time. Ownership of insurance For Member/Spouse options for Preferred and Select Rates: 1. Decide what level of coverage you desire and divide it by $1,000 2. Find your current age, gender and tobacco/nicotine use status in the chart (under the coverage level desired) 3. Multiply that cost by the number you got in Step 1 “Owner” means the person or entity with rights of ownership of this insurance as described in the Certificate of Insurance. If a transfer of ownership has been recorded by or on behalf of New York Life Insurance Company, or initial ownership is by other than the member, according to the information provided in the application, references throughout this Plan Information to “you” or “member” will mean “owner,” as applicable. Save on higher f amounts o coverage Renewal payments and claims Once you are accepted into the Plan, you will have a 31-day grace period for your payment of renewal premium contributions. When you want to submit a claim, call or write the Administrator for claim forms. Examples: for $200,000 of coverage for a 33-year-old male Calculation for Preferred Rates (nonsmoker able to meet the highest underwriting standards): $200,000 ÷ $1,000 = 200 x $1.14 = $228.00 annually Certificate of Insurance Calculation for Select Rates (applicant who qualifies for Select Rate basis): $200,000 ÷ $1,000 = 200 x $1.56 = $312.00 annually Add the cost for spouse (and children’s) coverage to the member’s cost if this additional coverage is requested. This information is only a brief description of the principal provisions and features of the Plan. The complete terms and conditions are set forth in the group policy issued by New York Life Insurance Company to the Trustee of the IEEE Life Insurance Plan. When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the Plan.

Table of Contents Feed for the Digital Edition of 2007-2008 IEEE Multiplan Brochure

Group Term Life Insurance Plan Group 10-Year Level Term Life Insurance Plan Group 20-Year Term Life Insurance Plan Group Disability Income Insurance Plan Professional Liability Insurance Plan Long-Term Care Plan Additional Plans & Information

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