2007-2008 IEEE Multiplan Brochure

The IEEE Group Disability Income Insurance Plan Underwritten by New York Life Insurance Company Even if you are in the best of health, a serious injury could leave you unable to work for months. How would you pay the mortgage, make the car payment, buy groceries, pay for electricity and water, or handle any of your monthly bills if your paychecks suddenly stopped because you were unable to work? It is a misconception to believe that Social Security will take care of you if you become disabled. Recent statistics show over half of disability claims aren’t paid by Social Security.1 And of those that are, the average benefits for a household with a spouse and children were less than $1,500 a month.2 You can see why it is important to have protection that will help you and your family if you become disabled and unable to earn a paycheck. The IEEE Group Disability Income Insurance Plan is designed to do just that. You have a choice of benefits up to $6,500 a month to help with the expenses of everyday living. Plus, you can choose how long your benefits will last and the waiting period with which you are most comfortable based on your financial situation and needs. And it’s good to know that if you should become totally disabled, plan premiums are waived during the period you receive benefits. Becoming disabled isn’t part of anyone’s plans. But it does make sense to have a plan if it should happen. The IEEE Group Disability Income Insurance Plan is a great choice for members to add a key level of income protection for you and your family. Take some time to look through the plan details and select the coverage options that are best for you. Then complete and return your application today. You’ll feel better knowing you’ve got a solid plan in place – and your family will, too. 1. Social Security Administration, “Applications for Disability Benefits and Benefit Awards,” 2004. 2. “2005 Social Security Changes,” Social Security Admin. Fact Sheet. October 2004. www.ssa.gov/pressoffice/factsheets/colafacts2005.htm v v Tailor your coverage to meet your needs The IEEE Group Disability Income Insurance Plan was designed for maximum flexibility to meet the needs of IEEE Members like you. You can tailor your coverage to meet your personal circumstances by selecting (1) how much your monthly benefit will be, (2) how soon your benefits will begin and (3) how long your benefits will last. Choose how much your monthly benefit will be You have a wide choice of Monthly Benefit Options, from $260 to $6,500 (in $130 units). However, members age 65 through 69 may not request a Monthly Benefit Option in excess of $3,250. The option you choose, together with any other disability income insurance you may have, cannot exceed 60% of your GROSS MONTHLY EARNED INCOME. If you have been self-employed for less than one year, your Monthly Benefit Option is limited to $1,040. Depending on your state of residence, you may be eligible to receive disability benefits under a state plan. You may wish to check to see if your state offers this type of benefit. NOTE: On the November 1 on or immediately after reaching age 65, coverage in excess of $3,250 reduces to $3,250. On the November 1 on or immediately after reaching age 70, coverage in excess of $1,560 reduces to $1,560. GROSS MONTHLY EARNED INCOME means 1/12th of your wages, salaries, commissions, fees and other amounts received for personal services – before deduction of income or social insurance taxes and after deduction of the normal business expenses deductible for income tax purposes – for the immediately preceding 12-month period. It does not include income from interest, dividends, rent, royalties, annuities, other insurance or other unearned income. www.ssa.gov/pressoffice/factsheets/colafacts2005.htm

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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