Engineers are seers, inventors and doers, with a difficult task of making complex ideas workable for a variety of clients across myriad industries. One would think, therefore, that there are virtually no similarities in how engineers perform their jobs and how insurance is tailored to the needs of engineers. In fact, there are several.
You Manage Risk — As Do We
Whether you are designing safety, security or functionality into a product or trying to protect your family, you go the extra mile to mitigate risk. So do we. A critical part of your financial plan — assuring your family’s security, protection and functionality — is solved with life insurance. The IEEE Member Group Insurance Program offerings mitigate risk, providing your family with immediate access to benefits upon a qualifying event and long into the future.
Figure 1. The IEEE Member Group Insurance Program is here to help you effectively manage risk.
You Use Design and Analysis Tools — So Do We
We know that you use a variety of complex design and analysis tools that promote the best outcome in your products, no matter your area of expertise. Our tools simplify the process of plan selection and smart decision-making, helping you arrive at the right insurance outcome for your circumstances. Our tools include these aids:
- Rate Calculator and Comparison Tool: Receive personalized rate quotes for the different IEEE Member Group Life Insurance Plans that are displayed on one screen for easy comparison.
- LifeSmart: Learn how life insurance fits into your financial plan, including which factors impact insurance needs throughout the span of your life, how much insurance is reasonable and more.
- Comparison Guide: The EZ Comparison Guide for IEEE-Sponsored Group Life Insurance Plans makes it easy to see at a glance a brief description, coverage, features, costs, eligibility, renewability, limitations, exclusions and underwriter information.
- Life Insurance Definitions Guide: Here’s a quick recap of life insurance terms to further your basic understanding and decision-making capabilities. The guide acts as an educational overview of available life-insurance products and as a quick reference.
You Design Products to Last — Like We Do
It’s true that electronics products continually evolve to keep up with changing demands and rapid advances. Nonetheless, you design a product that is solid and can last until its replacement evolves. Our products last even longer. For example, our IEEE Member Group 10-Year Level Term Life Insurance Plan is in force until you reach your 75th birthday.1
You Meet and Exceed Requirements — Just Like Us
You integrate unique features and expanded benefits into your products, with a constant eye on the bottom line. Does your device meet your performance goals, while maintaining a competitive price? We have the same philosophy. For example, we provide several discounts, including:
- Volume discounts: The more you purchase, the more you save per unit of insurance.
- Premium credit: A favorable claims year may result in a premium credit. For example, the IEEE Member Group 10-year Level Term Life Insurance Plan currently has a 10% premium credit in effect through February 28, 2019.
- Tobacco-free discounts: If you and your spouse qualify, non-tobacco rates cut premiums even more.
You May Work on a Team — Join Ours
Not all groups are created equal. The advantages of the IEEE Member Group 10-Year Level Term Life Insurance Plan include the ability to negotiate competitive rates based on the sheer size of the group. A history of favorable claims over a span of many years have kept plan rates in check.
You Provide Customization — So Do We
It’s what makes both of us different from the competition. You add options based on the needs of your customers; so do we. Not only are several of our plans unique, we also offer a number of life insurance options. For example, you can purchase options ranging from $100,000 to $2,000,000 in multiples of $10,000. Your spouse may also apply for coverage up to the member’s coverage amount. In addition, each eligible child can be insured for $10,000.
You Don’t Exclude — Neither Do We
Your products are designed for anyone who purchases them. So are ours. Should death occur from any cause, we pay the death benefit. Our death benefits are paid to beneficiaries anywhere in the world so you can rest assured that your loved ones will be taken care of, no matter where they are.1, 2
Life Insurance Basics are Easy
What you do for a living is often complex. In comparison, the basics of life insurance are easy, especially with The IEEE Member Group Insurance Program. It provides for simple access to the coverage and protection you require for your particular set of circumstances. Use our tools, apply online, and when you need assistance, we’re here to help.
An Important Part of Estate Planning
Typically, your projects take a long time to complete. That’s where we differ. In fact, we’re here to make sure that you achieve your financial planning goals.
Life insurance is an integral part of the estate planning process. As your circumstances change over the course of your career and to retirement and beyond, The IEEE Member Group Insurance Program is there to protect the ones you love, your income and your future.
Over the course of your career, your earnings and savings should be protected so you and your family are always taken care of, no matter what. In the event of a premature death, the Group 10-Year Level Term Life Insurance Plan provides security by helping cover daily living expenses, mortgage payments and college tuition. We help make sure that your family financially survives the unthinkable. For more than 55 years, the IEEE Member Group Insurance Program, administered by Mercer Consumer, a service of Mercer Health & Benefits Administration LLC3 (“Mercer Consumer”), has offered high-quality insurance options, group rates and convenience to IEEE members.
If you are already an IEEE member, start our easy-to-use application process here. Should you need additional information or in-depth assistance, contact us. We’re always here to help.
If you are not an IEEE member, you can join today to take advantage of these great benefits, and many more, exclusively for members!
Details included in this article relate to the U.S. IEEE Member Group Insurance Program. If you have questions about insurance services provided in Canada (excluding Quebec) for the Canada IEEE Member Group Insurance Program, please visit IEEEinsurance.com/canada.
1The website and brochure contains details including features, costs, eligibility, renewability, limitations and exclusions.
2Subject to U.S. regulations.
3Mercer Consumer is a registered trade name of Mercer Health & Benefits Administration LLC.
The IEEE Member Group Insurance Program is administered by:
Mercer Health & Benefits Administration LLC
12421 Meredith Drive
Urbandale, IA 50398
The IEEE Member Group 10-Year Level Term Life Insurance Plan is available in the U.S. (except territories), Puerto Rico and Canada (except Quebec). Underwritten by New York Life Insurance Company, 51 Madison Ave., New York, NY 10010 on Policy Form GMR.
In CA d/b/a Mercer Health & Benefits Insurance Services LLC
AR Insurance License #100102691 | CA Insurance License #0G39709
84846 (3/18) Copyright 2018 Mercer LLC. All rights reserved.