Member Alert Program - May, 2-012

NEW Level Term Life Insurance
available for NYSUT Members

When it comes to life insurance, there are numerous products to choose from. However, Level Term Life Insurance is one of the most basic types of insurance and offers more economical and flexible options than other types you can obtain in today’s insurance market.

Level Term Life Insurance is a type of term life policy in which you can choose your plan’s term period — normally in terms of 10, 15 or 20 years — depending on your needs. During the term period, your rate and benefit amount are designed to remain steady.

Selecting the right "term" for your lifestyle
Many people secure Level Term Life Insurance when their lifestyle and financial needs begin to change or grow or when their financial situation is such where they need coverage and rates to remain steady.*

For example, when people get married, purchase a new home, have children, start their own business, etc., their life insurance needs and financial obligations/debt are usually at their highest. They tend to need higher coverage amounts to last a longer period of time and fit within their budget.

Many people at this stage of life consider a 20-Year Level Term Life Insurance policy. During their policy’s 20-year term, their rate and benefit amount (which are based on their age when they apply) will remain the same for the entire term* — making it easier on their budget and dependable for their loved ones should something happen to them.

However, as you get older, oftentimes your life insurance needs decrease. You still have financial obligations but your mortgage gets closer to being paid off, your children are becoming more financially independent, and you’re nearing retirement.

During this stage of life, you may only need a 10-Year Level Term Life Insurance policy to protect your spouse or other loved ones and help replace your income and pay off any debt.

Supplementing your current coverage
No matter what “term” you decide will best fit your lifestyle needs, it’s important you take into consideration any current life insurance you have — either through your employer or other sources. If you already have a basic Term Life Insurance policy (which is the most common form of Term Life Insurance), your rates change as you enter new age bands and are annual renewable (a one-year term period); Level Term Life Insurance can help supplement that coverage.

For example, if you purchased your original term coverage when you were younger and had just married, you may need more coverage once you have children or purchase a bigger home. You can add Level Term Life Insurance to help supplement that coverage to give you higher benefit amounts to meet your newer lifestyle demands.

New Level Term Life Insurance option through the NYSUT Member Benefits Trust
As a NYSUT member or lawful spouse or domestic partner of a member meeting eligibility criteria, you now have access to the new NYSUT Member Benefits Trust-endorsed Level Term Life Insurance Plan — in addition to the Term Life Insurance Plan. For details, contact Marsh U.S. Consumer, the plan administrator, toll-free at 888-386-9788 or visit memberbenefits.nysut.org and click on “Insurance for Members,” and then “Level Term Life Insurance” or "Term Life Insurance."

*You cannot be singled out for a premium increase due to your age or a change in your health status. The insurance company reserves the right to change premium rates, but may only do so for all insureds covered under the group policy.

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Join us for a "Great Escape" on Aug. 11!

All NYSUT members, their families and friends are invited to join us for a special day at The Great Escape & Splashwater Kingdom in Lake George, NY on Saturday, August 11, 2012.

Tickets are only $46.50 per person and include admission to the park, free parking, an all-you-can-eat catered lunch and free souvenir drink cup!

The Great Escape & Splashwater Kingdom is home to more than 135 rides and attractions, including thrill rides, family rides and a full water park.

Registration information for this special event is coming soon. Visit memberbenefits.nysut.org for more details!

Did you know that you can review all of your premium payroll/pension deduction information for programs you participate in by logging in to the My Program Participation secure site? Click here off the Member Benefits website.

About MAP
Thank you for joining MAP, NYSUT Member Benefits' Member Alert Program. MAPers receive emails from Member Benefits and providers of endorsed programs. You'll know an email is related to MAP by the "MAP Alert - NYSUT Member Benefits" subject line.

NYSUT Member Benefits does not give, sell or otherwise transfer addresses to any other party for the purpose of initiating, or enabling others to initiate, email messages.

Please be aware that many employers and government entities block bulk emails, so if you have supplied a work email address to receive MAP Alerts, your employer's system may at any time block these MAP messages.

United States Life’s Level Term Life Insurance Plan is a NYSUT Member Benefits Trust (Member Benefits)-endorsed program. Member Benefits has an endorsement arrangement of 7.61% of earned premiums for this program. All such payments to Member Benefits are used solely to defray the costs of administering its various programs and, where appropriate, to enhance them. The Insurer pools the premiums of Member Benefits participants who are insured for the purposes of determining premium rates and accounting. Coverage outside of this plan may have rates and terms that are not the same as those obtainable through Member Benefits. The Insurer or Member Benefits may hold premium reserves that may be used to offset rate increases and/or fund such other expenses related to the plan as determined appropriate by Member Benefits. Member Benefits acts as your advocate; please contact Member Benefits at 800-626-8101 if you experience a problem with any endorsed program.

Agency fee payers to NYSUT are eligible to participate in NYSUT Member Benefits-endorsed programs.