At a Glance

Many members have chosen IEEE's Group Term Life Insurance Plan for their family's financial safety net.

Life insurance is one of the cornerstones of financial planning. In the event of an unexpected or premature death, IEEE Group Term Life Insurance can provide the financial security your family needs. This life insurance helps make sure they'll be able to meet current as well as future expenses.

For more than 40 years, IEEE has worked with Marsh U.S. Consumer to offer a group insurance program that provides the high quality, competitive cost, superior convenience, and wide choice IEEE members have come to expect from products endorsed by the Institute.

Available exclusively to IEEE members and their families, all of these plans feature economical rates and "portability." In other words, they are not tied to where you work or what you do.  (Subject to U.S. Government regluations.)

Save money on IEEE-Sponsored Group Term Life Insurance rates.

Effective March 1, 2010, all eligible members, including insureds under this currently marketed plan, will qualify for new, reduced rates and a premium discount—learn more.

Underwritten by New York Life Insurance Company

ELIGIBILITY

This plan is available exclusively to IEEE members* under age 70, who may request coverage for themselves, their lawful spouses, and all unmarried dependent children ages 14 days through 22 years (24 if a full-time student). In order to become insured, satisfactory evidence of insurability must be provided and the required premium must be paid.

A dependent who is also an IEEE member is eligible for either member or dependent coverage, but not both. If both member and spouse are covered as members, neither may insure the other as spouse and only one may insure any eligible children.

This coverage is available only for residents of the U.S. (except VT and territories), Puerto Rico and Canada (not available to residents of Quebec and British Columbia). Note: This coverage is available to residents of Canada through Marsh Canada Limited. Stephen Fretwell, an employee of Marsh Canada Limited, acts as broker with respect to residents of Canada.

*Participation in the IEEE Group Insurance Program requires active IEEE membership status during the life of the plan.

Non-Dependent Family Members: Any eligible "non-dependent" family members may also apply for coverage if they first join the IEEE as an Associate member (for membership information, visit the IEEE home page or call IEEE directly at 1-800-678-IEEE).

APPLY FOR UP TO $1,000,000 OF COVERAGE
You can choose the amount you need. A member has options of $10,000 to $1,000,000 (in multiples of $10,000). A lawful spouse may be insured for $10,000 to $1,000,000 (in multiples of $10,000), not to exceed 100% of member's coverage. Each eligible dependent child may be insured for $10,000.

Notes:

Member and spouse coverage decreases as shown under "Amounts of Insurance at Member Ages 65 through 99."

The total amount of coverage an individual may have under all group life insurance plans underwritten by New York Life Insurance Company cannot exceed $2,000,000.

In addition, the total amount of coverage an individual may have under all group policies issued by New York Life Insurance Company to the Trustee of the IEEE Life Insurance Plan may not exceed the maximum benefit option for any insured person.

WEIGH THE BENEFITS . . . COMPARE THE COSTS

Volume Discounts
The more you request, the more you can save. If you become insured for options of $160,000 through $490,000, you'll receive a discount based on volume; and for options of $500,000 through $1,000,000 you'll receive another volume discount. These discounts are continued for members age 65 and older as long as the minimum number of coverage units is maintained (16 or 50 units for both member and spouse).

Premium Discount
Plus, now through 2/28/2011, a 30% premium discount will apply to all premium contributions due. If plan experience warrants, the Trustee may grant premium discounts that can reduce your cost to renew coverage. Although not promised or guaranteed, premium discounts and/or credits have been granted every year since 1963.

Non-Tobacco/Nicotine Use Discount
And last but not least, if you and/or your spouse have not used tobacco or nicotine in any form - including nicotine patches and nicotine chewing gum - for the past 12 months, you may qualify for non-smoker rates that will reduce your premium payments even further!

Monthly Payment Option
To help keep your cost even more manageable, you have the option to pay your premium contributions on a monthly basis via the monthly Electronic Funds Transfer (EFT) (your monthly cost would be approximately one-sixth of the amount you calculate from the rate chart.)

YOUR AFFORDABLE PLAN COST

The initial cost of insurance for you and your spouse is based upon the amount of insurance requested, usage of tobacco/nicotine products and your attained age when insurance becomes effective. The cost increases as you grow older. Premium contributions will vary depending upon the amounts chosen.

IMPORTANT TAX INFORMATION FOR RESIDENTS OF ONTARIO, CANADA: Ontario has enacted a law requiring taxation of all group insurance purchased by individuals. An 8% tax will be added to the amount of any premium contributions due (in U.S. dollars).

The Current premium contribution for all eligible children (regardless of number) is $3.00 ($2.10 with premium discount*) semiannually for $10,000 of coverage.

* The rates shown reflect a 30% premium discount for IEEE members, in effect through 2/28/2011.

** Contact the Administrator for renewal rates at ages 70-99. Coverage terminates at member's age 100. (See Group Conversion Privilege.)

† To qualify as a non-smoker, the member/spouse must not have used tobacco or nicotine in any form - including nicotine patches and nicotine chewing gum - within the past 12 months.

‡ Based on member's age, amounts of coverage decrease for member and spouse. See "Amounts of Insurance at Member Ages 65 through 99."

The premium contributions shown reflect the current rate and benefit structure. Premium contributions may be changed by New York Life Insurance Company on any premium due date (but not more than once in any 12 month period) and any date on which benefits are changed. However, your rates may change only if they are changed for all others in the same class of insurance under this group policy. For example, a class of insureds is a group of people all with the same issue age and tobacco/nicotine usage. 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.

OTHER IMPORTANT INFORMATION

Amounts of Insurance at Member Ages 65 through 99
The amount of life insurance for you and your spouse is based on your age at last birthday. After age 64, coverage decreases for each $10,000 member and spouse option of insurance on the premium due date on or immediately after you enter a new age category.

(The amount of children's insurance does not decrease.)

Proceeds Remain Liquid, Earn Interest
The Plan features a valuable Continued Interest Account, which means death benefits to a beneficiary, if you wish, 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.

Valuable Living Benefit Provision "Accelerated Death Benefit"
The "Accelerated Death Benefit" option is available to help terminally ill insureds during a difficult, and often financially challenging time. Under this provision you may request one advance payment equal to 50% of a qualified terminally ill person's in force life insurance to be paid while that person is still alive.

The request must be made at least 12 months prior to the insured person's scheduled coverage termination age and the amount of insurance payable after the insured's death will be reduced by this payment. (Premium contributions will not be reduced.) If a scheduled reduction in coverage will occur within one year of the date the Accelerated Death Benefit will be paid, the benefit payable will be 50% of the reduced coverage amount.

This money can be used to help cover high prescription drug costs...medical bills...outstanding debts...to help pay for experimental treatments...the cost of modifications to your home...or for a family vacation—the choice is yours.

To qualify, a terminally ill insured must provide the New York Life Insurance Company with proof of terminal illness and anticipated life expectancy (12 months or less), as well as any other necessary medical information requested. For additional details and limitations, please see the Certificate of Insurance.

Please note that receipt of Accelerated Death Benefits may affect your eligibility for public assistance programs and may be taxable. Prior to applying to receive such benefits, you should consult with the appropriate social services agency and seek the advice of a qualified tax advisor.

NOTE: The Accelerated Death Benefit is not available to residents of Massachusetts.

Premiums Waived If You're Totally Disabled
If you become totally disabled before age 60, and remain so disabled for nine months or longer, your insurance will be continued as long as you remain totally disabled—for both you and your insured family members—without additional premium contributions until coverage terminates when you reach age 100. The amount continued will be based on the options under which you and your dependents were insured at the time your disability began, subject to the scheduled decreases shown in "Amounts of Insurance At Member Ages 65 through 99." You may be asked to provide evidence of your continued total disability from time to time.

No Exclusions
Benefits are paid for death from any cause, at any time, anywhere in the world. The validity of any amount of your life insurance which has been in force for two years during an insured's lifetime will not be contested except for insurance eligibility provisions and non-payment of premium contributions.

You Name Your Beneficiary
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 may change this beneficiary designation, at any time, by written request. You are the automatic beneficiary for dependent insurance, as described in the Certificate of Insurance. If you wish to name a different beneficiary for spouse coverage, contact the Administrator for the appropriate forms.

Group Conversion Privilege
The Plan provides conversion privileges under certain circumstances of involuntary termination as described in the Certificate of Insurance.

ADDITIONAL PLAN PROVISIONS

Effective Date
You and your eligible dependents 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 and your dependents are alive on that date. Coverage for any dependent who is confined at home, in a hospital or other medical institution, or is incapacitated so as to be unable to perform his or her normal activities on the date coverage would otherwise become effective, will not become effective until the date he or she is no longer so confined or incapacitated provided you are insured on that date and the dependent is still eligible for insurance. (Payment of a premium contribution for insurance does not mean there is any coverage in force before the effective date as specified by New York Life Insurance Company.)

When Coverage Ends
Your insurance can remain in force until you reach age 100, and for your insured family members as long as they remain eligible, provided:(a) you remain a member of IEEE;(b) you continue to pay premium contributions when due; and (c) the group plan is not terminated or modified by the Policyholder or New York Life Insurance Company to end insurance for the group of insureds to which you belong. Upon your death, coverage for your insured dependents may continue as described in the Certificate of Insurance.

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.

Certificate Of Insurance
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 to the Trustee of the Institute of Electrical and Electronics Engineers Life Insurance Plan.

When you become insured, you will be sent a Certificate of Insurance summarizing your benefits under the Plan.

"30-Day Free Look"
If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it, without claim, within 30 days. Your coverage will be invalidated and you will be sent a full refund—no questions asked!

IMPORTANT NOTICE
How New York Life Obtains Information and Underwrites Your Request for Group Term Life Insurance

Information regarding insurability will be treated as confidential. In considering your request for insurance, we will rely on the medical information you provide, and on the information you authorize us to obtain from your physician, other medical practitioners and facilities, other insurance companies to which you have applied for insurance and MIB, Inc. (formerly known as Medical Information Bureau). MIB and other insurance companies may also furnish New York Life, its subsidiaries or the Plan Administrator with nonmedical information (such as driving records, past convictions, hazardous sport or aviation activity, use of alcohol or drugs, and other application for insurance). The information provided may include information that may predate the time frame stated on the medical questions section, if any, on this application. This information may be used during the underwriting and claims processes, where permitted by law.

Your AUTHORIZATION may be used for a period of 24 months from the date you signed the application, unless sooner revoked. The AUTHORIZATION may be revoked at any time by notifying the Administrator in writing at the address provided. Your revocation will not be effective to the extent New York Life or any other person already has disclosed or collected information or taken other action in certificate or the certificate itself. The information New York Life obtains through your AUTHORIZATION may be come subject to further disclosure. For example, New York Life may be required to provided it to insurance, regulatory or other government agencies. In this case, the information may no longer be protected by the rules governing your AUTHORIZATION.

New York Life may release this information to the Plan Administrator, MIB, other insurance companies to whom you may apply for insurance, or to whom a claim for benefits may be submitted and to others whom you authorize in writing. However, this will not be done in connection with information concerning Acquired Immune Deficiency Syndrome (AIDS) or Human Immunodeficiency Virus (HIV).

New York Life will not disclose such information to anyone except those you authorize or where required or permitted by law. We may make a brief report to MIB; however, we will not disclose our underwriting decision. Information in our files may be seen by New York Life and Plan Administrator employees, but only on a “need to know” basis in considering your request. Upon receipt of all requested information, we will make a determination as to whether your request for insurance can be approved.

MIB is a not-for-profit organization of life insurance companies, which operates an information exchange on behalf of its members. When you apply for insurance or submit a claim for benefits to a MIB member company, medical or nonmedical information may be given to the Bureau, which may then be furnished to member companies.

If we cannot provide the coverage you request, we will tell you why. If you feel our information is inaccurate, you will be given a chance to correct or complete the information in our files. Upon written request to New York Life or MIB, you will be provided with nonmedical information. Generally, medical information will be given either directly to the proposed insured or to a medical professional designated by the proposed insured. Your request is handled in accordance with the Fair Credit Reporting Act procedures. If you question the accuracy of the information provided by MIB, you may contact MIB and seek a correction. MIB’s information office is: MIB, Inc. 50 Braintree Hill Park, Suite 400, Braintree, MA 02184-8734, telephone (866) 692-6901 (TTY 866 346-3642). For Canadian residents the address is: MIB Information Office, 3300 University Avenue, Suite 501, Toronto, Ontario, Canada M5G 1R7, telephone (416) 597-0590. Information for consumers about MIB, Inc., may be obtained on its Web site at www.mib.com

For NM Residents: PROTECTED PERSONS¹ have a right of access to certain CONFIDENTIAL ABUSE INFORMATION² we maintain in our files and they may choose to receive such information directly. You have the right to register as a PROTECTED PERSON by sending a signed request to the Administrator at the address listed on the application. Please include your full name, date of birth and address.

¹ PROTECTED PERSON means a victim of domestic abuse; who has notified us that he/she is or has been a victim of domestic abuse; and who is an insured or prospective insured person.

² CONFIDENTIAL ABUSE INFORMATION means information about: acts of domestic abuse or abuse status; the work or home address or telephone number of a victim of domestic abuse; or the status of an applicant or insured family member, employer or associate of a victim of domestic abuse or a person with whom the applicant or insured is known to have a direct, close, personal, family or abuse-related relationship.

If we can provide the coverage you requested, we will inform you as to when such coverage will be effective. Under no circumstances will coverage be effective prior to this date. Payment of a premium contribution with your application does not mean that there is any insurance in force before the effective date as determined by New York Life Insurance Company.

New York Life Insurance Company 2/09 ed.

The IEEE insurance trust incurs costs in connection with this sponsored plan. To provide and maintain this valuable membership benefit, it is reimbursed for these costs. IEEE also receives a fee for the license of its name and logo for use in connection with this plan.

Underwritten by New York Life Insurance Company, under Group Policy No. G-8100-1, on Policy Form GMR-FACE /G-8100-1.

About New York Life Insurance Company

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Program Administrator

IEEE-Sponsored Insurance Program Administrator
12421 Meredith Drive
Urbandale, IA 50398
1-800-493-IEEE (4333)
ieee@marshpm.com
7:30 am to 6 pm M-F (Central)
http://www.personal-plans.com/product/marsh

Application Mailing Address

Administrator, IEEE Member Group Insurance Program
P.O. Box 10374
Des Moines, IA
50306-0374

Payment Billing Address

Administrator, IEEE Member Group Insurance Program
P.O. Box 10425
Des Moines, IA
50306-0425

Insurance Company

New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
http://www.personal-plans.com/product/NYL