Ten Year Level Premium Term

What if something happens to me? What if my family is left with little or no income? What if I become terminally ill? All good questions. Please continue reading for the next few minutes and you will discover how the LifeRing TenPlus^sm10 Year Level Premium Group Term Life Insurance Plan can answer these questions and may be a valuable addition to your life insurance portfolio and your peace of mind.

Why LifeRing TenPlus^sm ?
Chances are, since you last updated your life insurance, inflation and any new obligations you have acquired have increased your need for coverage. The LifeRing TenPlus^sm 10 Year Level Premium Group Term Life Insurance Plan was designed to help protect you from unnecessary financial burden and help ensure your family's lifestyle and financial security.

Initial premiums are guaranteed not to change for the first 10 years with level amounts of insurance until termination at age 75. At the end of 10 years you have a choice of how to continue your coverage. You may apply (up to age 64) for a new ten year period with a new 10 year rate guarantee, based on your attained age, or you can continue your coverage up to age 75 on an annually renewable basis with reasonable Non-guaranteed group rates based on your then attained age and without medical underwriting.

Who will be my beneficiary?
You (the member) may choose anyone as your beneficiary. You are automatically the beneficiary for your dependent's coverage. You can also change your beneficiary at any time by written request.

Is there a Conversion Privilege?
You and your dependents (if insured) have the privilege of converting this group coverage to an individual permanent policy offered by New York Life subject to certain conditions. No medical examination will be required. Complete details will be outlined in your Certificate of Insurance.

What is the Terminal Illness Benefit?
A Terminal Illness Benefit, or "Accelerated Death Benefit"*, is included in your LifeRing TenPlus^sm Plan. It is designed to provide terminally ill insureds disagnosed as having a life expectancy of 12 months of less** with an option to have a portion of their life insurance benefit (up to 50%) paid while still alive. This money can be used to help cover high prescription drug costs, medical bills, outstanding debts, or anything you wish. Complete details are provided in the Certificate of Insurance.

Receipt of an Accelerated Death Benefit may affect your eligibility for public assistance programs and may be taxable so insureds should consult with the appropriate social services agency, and assistance should be sought from a qualified tax advisor prior to applying for such benefit.

* This feature is not available to residents of Massachusetts.

** 24 months for residents of Illinois.

Am I and is my spouse eligible?
What amounts are available?

Credit Union Members can apply for life insurance coverage for themselves and their spouses under age 65 for amounts up to $1,000,000 in $25,000 increments. The minimum amount available is $100,000. If your spouse is a Credit Union Member, he/she must apply for Member coverage.

The total combined coverage for each insured person under the LifeRing ^sm Plan and the separate LifeRing Group Term Life Insurance Plan cannot exceed $1,000,000. Under no circumstances will your existing coverage be affected by your application for the 10 Year Level Premium Group Term Life Insurance unless you select to replace it once approved.

When applying, you may also apply for coverage for all of your unmarried dependent children ages 14 days to 25 years. If both parents are Members, children may only be covered under one parent. Your children may be covered for $4,000 each. Between ages 14 days and 6 months, the benefit is $1,000.

This coverage is only available for domestic full time residents of the United States

When will my coverage become effective?
Coverage will become effective on the first of the month coinciding with or next following the date New York Life Insurance Company approves the application, provided premium is paid in a timely manner. The effective date will be specified by the Insurance Company. Any person to be insured must be performing the normal activities of a person of like age on the approval date.

When would my coverage end?
Your coverage can continue through age 74, as long as you remain a Member, your premiums are paid when due, you do not request to end such coverage, and the group policy is not terminated. Insurance for your dependents can continue through spouse age 74 and child age 24, provided they remain otherwise eligible, premiums are paid when due. Your coverage remains in force and the group policy is not terminated. Coverage for your dependents can continue if you die. Details are described in the Certificate of Insurance.

What are the limitations of the plan?
You and your insured dependents are covered 24 hours a day, every day of the year, no matter where you are. The validity of any amount of insurance that has been in force for more than 2 years during an insured's life will not be contested except for eligibility and non-payment of premiums. The only exclusion is that during the first two years, benefits will not be paid for death resulting from suicide while sane or insane. In this case, benefits will be limited to a return of the applicable premium that was paid. This is the only exclusion imposed by the plan.

Missouri residents: Benefits will not be paid for suicide with the first two years of coverage only if New York Life can show that suicide was intended at the time of application.

What does this coverage cost?
Your premiums are based on your gender, current age and your health. If you are healthy and lead a healthy lifestyle you may also qualify for Preferred Rates at substantial savings over our already affordable Standard and Select rates. Preferred rates are not available to individuals who smoke or who have high risk occupations or hobbies like scuba diving or skydiving.

Remember, even if you can't qualify for Preferred rates, you may still be eligible for our Standard or Select rates. Either way, you get quality life insurance coverage at an affordable price. To determine if you qualify, simply complete and return the application.

Are there volume discounts?
If you request $100,000 to $250,000 you'll enjoy already affordable rates. There is a volume discount for amounts of $250,000 up to $500,000 and an additional discount available for amounts $500,000 and higher. These discounts can have a significant impact on reducing your insurance costs.

Rights to change benefits, rates or terminate the plan
Changes to the group policy are subject to agreement between New York Life and the Policyholder. The Policyholder or New York Life may terminate the plan on any premium due date by giving 90 days advanced notice. You may keep you coverage in force provided you and your dependents remain eligible, the group policy remains in force, your Credit Union participates in the Trust to which the group policy is issued, you remain a member of the Credit Union and you pay your premiums when due.

Your Credit Union incurs costs in providing oversight and administrative support for this sponsored plan. To provide and mention this valuable benefit it is reimbursed for these costs. The sponsoring credit union also receives a fee in connection with this plan, which is applied to help support all member services for your Credit Union.

About New York Life
New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010
New York Life has consistently received the highest ratings for financial strength from some of the industry's prinicpal rating agencies: A.M. Best (A++), Standard & Pours (AAA), Moody's Investors Service (AAA) and Fitch Ratings (AAA). *

This plan description is a summary of benefits only and is subject to the terms, conditions and limitations of Group Policy GMR-FACE / G-10658-0. Complete details on benefits and provisions are included in the Certificate of Insurance issued to each insured once coverage is approved.

* Source - Individual Third Party Reports (as of 6/16/09).

How do I apply for coverage?
It is easy to apply for LifeRing^sm Simply complete the an enrollment form and return it to the plan administrator. There is no need to send money now; premiums will be deducted from your designated Credit Union account after your coverage is issued.

Do I have a chance to review my coverage?
Once your application is approved, you will receive a personalized Certificate of Insurance summarizing your benefits. You may take up to 30 days to review your Certificate in detail. If for any reason, you decide the coverage is not what you want, simply return your Certificate of Insurance within 30 days, without claim, to cancel your enrollment and receive a full refund of any premiums paid.

Who can I talk to for more information?
If you have any questions or would like assistance in completing your application - call the Plan Administrator toll free:

1-800-223-8646 weekdays between
8:00 a.m. and 5:00 p.m., Central Time.

Plan Administrator
LifeRing Group Insurance Plan
P.O. Box, 152501
Irving, TX 75015-2501