2007-2008 IEEE Multiplan Brochure

The IEEE Long-Term Care Program Premiums for long-term coverage are based in part on age. So, putting off getting coverage can actually end up costing you more. The fact is, the older you are, the more likely you are to need some type of long-term care. About 1 in 5 Americans age 65 and older and nearly half of those over age 85 need assistance with everyday activities.5 That’s why it’s so important to be planning in advance. Keep in mind, Medicare DOES NOT PAY full benefits for extended care, assisted care facilities, custodial care or nursing home facility expenses. Getting the right long-term care coverage will assist in safeguarding you and your family against the considerable — and still rising — cost of nursing home and other long-term care expenses. v v v The longer you wait, the higher your premiums may be Protect your assets and your hard-earned savings Choose from a range of plans Currently, 12.8 million people of all ages need a type of assistance known as Long-Term Care (LTC). As our population ages and medical breakthroughs help us live longer, more people will need this type of care. Many people are surprised to learn that most long-term care services are not covered by major medical plans or Medicare and they will have to use their own assets to pay for this type of care. Individuals with a higher net worth are particularly vulnerable as they must spend down their assets before qualifying for government aid. Even with a healthy nest egg in your retirement account, your life savings can be quickly used up paying for long-term care. The costs are high and continue to get higher each year … • The national average cost of a year in a nursing home is $75,190 2 • Part-time care can cost up to $26,000 per year 3 • The current cost of in-home assistance averages $19 per hour, or $39,520 per year for 40 hours a week of help 4 v v Understanding long-term care The Long-Term Care Solutions Network provides a personalized one-on-one service to help you find the right plan that best meets your personal needs. It can help you: • Maintain your independence • Stay in your own home for as long as possible • Preserve your quality of life • Avoid burdening friends and family The cost of long-term care is high 1. “The Consumer Guidebook, Long-Term Care Planning: A Dollar and Sense Guide.” The National Council on the Aging: Press Release, 2/19/02. 2. The MetLife Market Survey of Nursing Home & Health Care Costs.” MetLife Mature Market Institute, 9/06. 3. “Developing a better handle on long-term care.” Boston Herald.com, 7/20/03. 4. The MetLife Market Survey of Nursing Home & Health Care Costs.” MetLife Mature Market Institute, 9/06. 5. “Incentives for Long Term Insurance Included in Senate Bill on Alzheimer’s Research.” American Council of Life Insurers (ACLI), 6/18/04. Marsh does not provide tax or legal advice. Please consult your professional advisers. So, if retirement is or isn’t far off on the horizon, make plans today to call the Long-Term Care Solutions Network. Find out which options IEEE Members have available for helping protect against the high cost of long-term care. Call 1-800-358-3795 or submit the reply form for more information. It’s never too early to plan ahead.

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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