Overview

Term life insurance provides coverage for a specific period of time. The NYSUT Member Benefits Trust-endorsed Term Life Insurance Plan provides benefits up to $1 million, if under age 65.

Benefit Features:

• Comprehensive insurance protection – 24 hours a day, 365 days a year – even if you change jobs or retire
• Coverage for you, your lawful spouse or certified domestic partner and even your children (at least 15 days old and under age 23)
• Accelerated benefits if you or your insured lawful spouse or certified domestic partner should be diagnosed as terminally ill
• 15 percent discount for members who are eligible for, and choose to pay through, payroll deduction or pension deduction
• Will Preparation Services – If you’re enrolled in the Term Life or Level Term Life Insurance coverage, you and your spouse may take advantage of Will Preparation services at no cost to you. Virtually everyone needs a will. Without a will, a person’s assets are generally distributed according to state law, regardless of his/her actual intentions. Having a will can help you set important decisions—such as who inherits your property, who handles your affairs, and who will care for your children.
• Estate Resolution Services – Settling an estate can be a complex and lengthy process, but it doesn’t have to be. The resources and services we offer you and your beneficiaries through MetLife Legal Plans are there to help. With your Term Life or Level Term Life coverage, you get expert legal guidance at no extra cost. Whenever you or your representative have a question about the probate process or the court representation needed, unlimited consultations with a plan attorney can leave you feeling confident with your decisions.

Coverage may vary and may not be available in all states.

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Term insurance offers an important advantage over permanent life insurance … cost! The premium for a term policy is typically less than permanent life insurance. Why? Because term life insurance does not offer cash, loan or retirement income values. It provides “pure” insurance protection during the period your spouse and children depend heavily on your income.

Benefit features of the Member Benefits-endorsed Term Life Insurance Plan:

• Up to $1 Million Available…at an Economical Price! With this plan, you and your family have access up to $1 million of term life protection, if under age 65.
• The Plan features Accelerated Benefits – With the Accelerated Benefits Provision, you can decide to receive up to 80 percent of your life insurance benefit up to $500,000 before death if you are under age 75 and become terminally ill with less than 12 months to live. These Accelerated Benefits may prove to be essential to pay for final medical costs, or to maintain the financial security of your family during a terminal illness.

Please read the materials for complete details, including rates and eligibility. NYSUT members and their lawful spouses (or certified domestic partners) under age 85 are eligible to apply. Your age determines the maximum amount of coverage you may apply for under MetLife's Term Life Insurance Plan. An ex-spouse will need to purchase Associate Membership through NYSUT to continue his or her coverage.

Premium Payment Options

You may select from the following convenient payment options:

• Payroll or Pension Deduction: If you belong to a local association that has made arrangements for payroll deduction of NYSUT Member Benefits endorsed/sponsored programs or if you are receiving a monthly pension benefit from NYSTRS, NYCTRS, or NYSERS, NYCBERS, or a monthly lifetime annuity payment from TIAA, you should consider taking advantage of this easy, convenient payment method. By doing so, you will save 15 percent on your premiums. You and your lawful spouse or certified domestic partner both qualify for this convenient way to pay your premiums.
• Pre-authorized check draft: Premiums will automatically be deducted from your checking account on a monthly, semiannual, or annual basis.
• Pre-authorized credit card payments: Premiums will automatically be deducted from your credit card on a monthly, semiannual, or annual basis.
• Direct bill: You will receive a billing invoice on a semiannual or annual basis.

NYSUT Member Benefits Trust Disclosure Notice

The MetLife Term Insurance Plan is a NYSUT Member Benefits Trust (Member Benefits)-endorsed program. Member Benefits has an endorsement arrangement of 7.61% of gross 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 1-800-626-8101 if you experience a problem with any endorsed program.

Underwritten by:

Metropolitan Life Insurance Company
200 Park Avenue
New York, NY 10166