2007-2008 IEEE Multiplan Brochure

The IEEE Group Term Life Insurance Plan L L L L You name your beneficiary How to Calculate Your Cost The initial cost of IEEE Group Term Life Insurance for a member and spouse is based on the member’s attained age when insurance becomes effective and usage of tobacco/nicotine products. The cost increases as the member grows older and enters a new age bracket. Your beneficiary is the person last designated by you in writing, and recorded as such by or on behalf of New York Life Insurance Company. The insured member is the automatic beneficiary with respect to the insurance on dependents. If you wish to designate another beneficiary for spouse coverage, contact the Administrator for the applicable forms. Conversion privilege For member options in excess of $10,000: 1. Decide what level of coverage you desire and divide it by $10,000 2. Find your current age in the chart, then find your smoking status Pay less if you’re a qualified nonsmoker The group policy provides conversion privileges under certain circumstances of involuntary termination as described in the Certificate of Insurance. Certificate of Insurance 3. Multiply that cost by the number you got in Step 1 For example: for $200,000 of coverage for a 33-year-old smoker $200,000 ÷ $10,000 = 20 x $1.77 = $35.40 semiannually Insured members will be sent a personal Certificate of Insurance summarizing their benefits under the group policy. This brochure contains only a brief description of some of the principal provisions and features. 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. For spouse options in excess of $10,000: 1. Decide what level of coverage you desire and divide it by $10,000 2. Find the member’s age in the chart, then find your smoking status 3. Multiply that cost by the number you got in Step 1 For example: for $50,000 of coverage at member’s age 33 and spouse who is a smoker $50,000 ÷ $10,000 = 5 x $1.35 = $6.75 semiannually Add the cost for spouse (and children’s) coverage to the member’s cost if this additional coverage is requested. Amounts of insurance at ages 65-99 The amount of life insurance for you and your spouse is based on your age at last birthday, and decreases on the premium due date (March 1 or September 1) coinciding with or immediately following the date you reach the age for the next scheduled reduction as shown. Current decreases are shown below for the $10,000 member or spouse option of insurance at age 65, with proportionate decreases under the other options. (The amount of children’s insurance does not decrease.) Member’s Age at Last Birthday Under 65 65-68 69-72 73-76 77-79 80-99* Member/Spouse $10,000 Option $10,000 7,000 5,000 3,500 3,000 2,500 * Coverage terminates at member’s age 100 – see Conversion Privilege. Based on the current benefit structure for each $10,000 multiple of member or spouse coverage. Benefit option amounts are not guaranteed and are subject to change by agreement between New York Life Insurance Company and the Trustee of the IEEE Life Insurance 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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