The NYSUT Member Benefits Trust-endorsed WrapPlan® Term Life Coordination Program complements term life insurance coverage available to bargaining unit members. The WrapPlan is a group universal life insurance policy underwritten by Transamerica Financial Life Insurance Company.

The plan coordinates easily with the NYSUT Member Benefits-endorsed term life insurance plan.

Term life insurance coverage typically terminates or decreases at retirement. When this loss of coverage occurred in the past, members could apply for an expensive conversion policy, apply for fully underwritten coverage if they were healthy, or simply forgo the protection.

The WrapPlan allows enrollees to apply for a lesser amount of coverage (as little as 50 percent of the current term benefit) and have the protection increase when term insurance decreases or terminates.

To apply, members must be age 65 or younger, at work or retired, and reside or work in New York. This benefit can be custom designed for a member’s family, financial and career needs.

The plan includes these features:

• Coverage may be continued to age 95;
• Premiums may be set to produce as much or as little cash value as desired;
• Physical exams and blood tests are never required;
• Coverage amounts and increase dates may be adjusted; and
• Account values accumulate at competitive interest rates on a tax-deferred basis.

Member Benefits negotiated several other features that make this plan unique. To find out more, call the plan administrator, Future Planning Associates, toll-free at (866) 697-8897.

For information about contractual expense reimbursement/endorsement arrangements with providers of endorsed programs, please call NYSUT Member Benefits Trust at (800) 626-8101, e-mail to benefits@nysutmail.org, go to www.memberbenefits.nysut.org, or refer to your NYSUT Member Benefits Trust Summary Plan Description.