IMPORTANT INFORMATION TO KEEP IN MIND
To protect a term life insurance plan against benefit reductions, premium increases or termination, please call 866-NYSUT-WP or visit http://www.nysut.org/cps/rde/xchg/nysut/hs.xsl/3455_2945.htm today!
Your reliance upon a Term Life Plan may not necessarily decrease when you retire.
That is why we urge you to take a few moments to review the following information. It describes the WrapPlan® II Flexible Premium Adjustable Life Insurance, a NYSUT Member Benefits Trust-endorsed universal life insurance policy that “wraps” itself around any term plan you have to offset the unwanted changes that will inevitably affect your existing coverage.
Applying for the WrapPlan® II is simple and will allow you to avoid the costly conversion of your present plan. Benefits of the plan include*:
• Coverage that can be guaranteed
• Up to $300,000 of coverage
• Spouse coverage available
• Available to members age 70 or under
($100,000 maximum coverage for retirees)
• No medical exam or blood test required
• Coverage up to age 95
• Accumulation of cash value**
• Payroll and Pension Deduction available
• 30-Day Free-Look Period
• If you don’t have a term life insurance policy, please contact us.
The WrapPlan® II is underwritten by Transamerica Financial Life Insurance Company (Home Office: Purchase, NY) and is approved for residents of New York state. You must be a NYSUT member or agency fee payer, actively at work, and age 70 or under to apply. Retirees age 70 or under are eligible to apply for a limited amount of coverage.
Call toll-free 866-NYSUT-WP (866-697-8897) or visit http://www.nysut.org/cps/rde/xchg/nysut/hs.xsl/3455_2945.htm for more information or to apply.
*This is a very brief description of the policy features. Please consult your policy for complete details, limitations and exclusions.
**The guaranteed tax-deferred interest rate is 4.00%; the current interest rate is declared by the company based on current investment returns.
Thank you for joining MAP, NYSUT Member Benefits' Member Alert Program. MAPers receive e-mails from Member Benefits and providers of endorsed programs. You'll know an e-mail 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, e-mail messages.
Please be aware that many employers and government entities block bulk e-mails, so if you have supplied a work e-mail address to receive MAP Alerts, your employer's system may at any time block these MAP messages.
The Transamerica Financial Life Insurance Company’s Flexible Premium Adjustable Life Insurance (WrapPlan® II) is a NYSUT Member Benefits Trust (Member Benefits)-endorsed program. Member Benefits has an endorsement arrangement of 6.5% of first-year premium and 0.195% of renewal premium, with a guaranteed annual minimum amount of $100,000 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. 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.
To access NYSUT Member Benefits general Privacy Notice, click on this link: http://www.nysut.org/cps/rde/xchg/nysut/hs.xsl/49_13361.htm
NYSUT Member Benefits, 800 Troy-Schenectady Rd., Latham, NY 12110
