What are the advantages of buying through IEEE?
Employer-provided life insurance usually covers only part of your income. And if you leave your job, it often ends.
Group insurance from IEEE is portable so you can keep it no matter where you work. Plus, IEEE has negotiated with insurance companies to include benefits which reflect the unique needs of technologists.
I already have a policy, when will my EFT (Electronic Funds Transfer) begin?
Do I need to be a member of IEEE to take advantage of the Insurance benefits?
Yes, you must be an IEEE member to apply for and maintain coverage.
To become a member of IEEE, click here.
How do I learn more about all the insurance & healthcare services available to me?
Stay up-to-date on new coverages available, reminders and policy information. Start receiving the free Insurance Circuit eNewsletter.
What if I was turned down for coverage by another insurance company?
That doesn’t necessarily mean you can’t qualify for benefits through the IEEE Member Group Insurance Program. Acceptance standards can vary greatly between insurance companies.
In addition, the situation that caused your original application to be declined may have changed enough to warrant coverage through the IEEE program.
What is term life insurance & why do I need it?
Term life insurance is a form of life insurance that provides financial protection for a set period of time or term such as 1, 10, or 20 years. If you die before the term is up, your beneficiary receives the death benefit, usually tax-free. It can be used however needed, without restrictions.
If you have a spouse, children, or other family members depending on you, term life insurance can be an easy way to make sure money is available to help them cover expenses after you're gone. Life insurance can be a financial safety net, helping with:
Click here to learn about the Life Insurance options available to IEEE members.
How much life insurance do I need?
Experts recommend you have 6 to 10 times your annual salary in place through life insurance and/or savings. You should have enough life insurance to cover your debt and the daily expenses for those you love.
To help calculate, ask yourself the following questions:
What if I already have life insurance?
It’s a good idea to review your coverage every few years to make sure it still meets your financial needs. It might be time to re-evaluate your coverage if you:
If you are applying for coverage to replace another policy, do not cancel your current policy until your new coverage is approved and active.
What is disability insurance & why do I need it?
Disability insurance replaces part of your income for a specific period of time if you're unable to work because of an illness or injury. Group disability insurance, like that offered through the IEEE Member Group Insurance Program, can offer key advantages designed for the unique traits engineers.
People often think disability insurance only covers serious injuries and illnesses. However, many common injuries and illnesses can result in you being unable to work. The fact is, over 25% of today’s 20-year-olds can expect to be out of work for at least a year because of a disabling condition before retirement.*
* Source: The Faces and Facts of Disability, Social Security Administration, 2021.
What types of disabilities are covered?
What is Accidental Death & Dismemberment (AD&D) insurance?
Why should I consider AD&D Insurance?
Group AD&D Insurance is a cost-effective way to provide protection for your family should an accident occur. Since benefits are limited to accidents, your premium costs are lower compared to other types of life insurance. That makes this an option that can fit into most household budgets.
Also, your acceptance is guaranteed. There is no medical testing or exam is required and there are no health questions required to enroll.
Money from any qualifying claims goes directly to you or to your beneficiary—not to a doctor or hospital. Benefits are paid regardless of any other insurance coverage you may have.
Additional benefits included in the IEEE AD&D policy:
Do I really need Professional Liability Insurance?
Technology professionals in these three classifications should strongly consider a Professional Liability Insurance policy.
When people think of professional risks, they automatically think of doctors treating patients and claims of malpractice. But professional risks occur in almost every profession—some more than others, including technology professionals. Technology professionals are at an increased risk because of the more advanced and evolving technology and services involved with your project work.
The most effective way to minimize the impact of the risks you face every day is by transferring those risks through a Professional Liability Insurance policy. This coverage protects you against financial losses from lawsuits filed against you by your clients.
I have a Professional Liability policy with my employer, do I still need my own policy?