2007-2008 IEEE Multiplan Brochure

The IEEE Group Disability Income Insurance Plan v v v Choose how soon your benefits will begin “FULL-TIME WORK” means the active performance of the regular duties of your normal occupation for pay or profit on the basis of at least 30 hours per week at the place such duties are performed. This offer is only available to residents of the United States (excluding VT and territories) or Puerto Rico. Important Notice for Self-Employed Members: Please be advised that if you are applying for the Group Disability Income Insurance Plan and you have been self-employed for less than one year, a limited coverage amount of $1,040 is available. Moreover, coverage is only available under the Five-Year Plan, with a waiting period of at least 90 days. If you have any questions, or would like additional information, please call the Plan Administrator at 1-800-493-IEEE (4333). You also have a choice of four waiting periods before benefit payments begin: 30, 90, 180 or 365 days. (A waiting period is the number of consecutive days that you must be Totally Disabled before benefits commence.) You may wish to select the waiting period that coordinates with any short-term income protection they have from other sources. IMPORTANT TIP: iting period, If you select a longer wa lity coverage. r disabi you’ll pay less for you Choose how long your benefits will last v You have a choice of three plans — the Career Plan, Five-Year Plan or the Inflation-Fighter Career Plan. Benefits begin at the end of the waiting period, provided you are Totally Disabled. All plans pay monthly benefits when you are Totally Disabled: prevented by sickness or accident from performing the material and substantial duties of your usual occupation, provided you are not otherwise working for pay or profit. The Plans limit benefits for disabilities due to Mental Disorders or Chemical Dependency to a maximum of 36 months, regardless of Plan choice. Career Plan— If you are Totally Disabled before age 63, benefits are payable up to age 65. There is a two-year maximum benefit for Total Disabilities starting at ages 63 through 74. Five-Year Plan— Benefits are payable up to five years for Total Disabilities starting before age 60. For Total Disabilities starting at age 60 through age 62, benefits may continue up to age 65. For Total Disabilities starting at age 63 through age 74, benefits may continue for up to two years. Inflation-Fighter Career Plan— This Plan provides coverage that, once benefits begin, can help keep pace with inflation. Monthly Benefits will be adjusted annually from the date of Total Disability if it occurs prior to age 63. Adjustments may be made to the Monthly Benefit paid in the second and each succeeding year. The adjusted amount will be based on the Consumer Price Index for Urban Consumers (CPI-U), up to a maximum 5% increase per year and an overall maximum increase of one times the original benefit. Once you are no longer disabled and benefit payments stop, the Monthly Benefit returns to the original option amount. Benefits are payable up to age 65 for Total Disabilities starting before age 63. After age 62, the inflation-fighter feature is no longer applicable and, for Total Disabilities starting at ages 63 through 74, benefits will be payable in accordance with the basic Career Plan (i.e., up to two years maximum). SPECIAL NOTE: A “catch-up” feature allows disabled members to receive benefit increases in excess of the 5% annual maximum if the prior years’compounded rates of inflation were less than 5% annually. Contact the Administrator for additional details on this feature. When your benefits start You will become insured on the date specified by New York Life Insurance Company, provided the first premium contribution has been paid, satisfactory evidence of insurability has been submitted, and you are actively performing the normal activities of a person in good health of like age [NC Residents: a person of like age] on that date. If you are not performing your normal activities as required, coverage will not become effective until you are performing such normal activities, provided such date is within three months of the date insurance would have otherwise become effective and you are still eligible for insurance. Payment of a premium contribution for insurance does not mean that there is any coverage before the effective date as specified by New York Life Insurance Company. There are instances where the company may be able to offer insurance (at the same premium) by eliminating coverage for a specific impairment or disease. When your coverage ends Once coverage is validly in force, it may be carried to the premium due date on or immediately after you reach age 75, unless you cease FULL-TIME WORK other than for reasons of disability, cease to be an IEEE Member, fail to pay premium contributions when due, enter full-time active duty in the armed forces (coverage may be restored upon termination of Active Duty Status, subject to policy guidelines), or the group policy is terminated or modified by the policyholder or New York Life Insurance Company to end insurance for the group of insureds to which you belong. After you have been Totally Disabled for six consecutive months and you begin to receive benefits for Total Disability, all future premium contributions under the Plan will be waived for as long as you continue to receive benefits for such disability. v v Waiver of premium Who can apply IEEE Members under age 70 who are at FULL-TIME WORK are eligible to request coverage, provided their gross annual earned income is at least $20,000.

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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