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 would 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 is available to help protect you from unnecessary financial burden and help ensure your family's lifestyle and financial security for at least a 10 year period. Initial premiums are guaranteed not to change for the first 10 years. 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, subject to approval by New York Life, or you can continue your coverage up to age 75 on an annually renewable basis with reasonable LifeRing^sm Group Term Life Insurance Plan rates based on your then attained age and without medical underwriting.

What if I apply for additional coverage?
If you already have coverage under the LifeRing or LifeRing TenPlus^sm Plans(s), you may apply for additional coverage up to a combined total of $1,000,000. Under no circumstances will your existing coverage be affected by your application for additional insurance.

Who will be my beneficiary?
You (the member) may choose anyone as your beneficiary. That person will receive all proceeds of your coverage in the event of your death. It could be a family member or a close friend. You can also change your beneficiary for your spouse's coverage can be designated by you.

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.

Why is the Living Benefit feature important?
A living benefit feature, or "Accelerated Death Benefit"**, is included in your LifeRing TenPlus^sm Plan.* It is designed to provide terminally ill insureds 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. The choice is yours. 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 insured 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.

** Under the Accelerated Death Benefit feature, Illinois residents must be diagnosed with a life expectancy of 24 months or less.

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

Credit Union Members and their spouses under age 65 may apply for life insurance amounts up to $1,000,000 in $25,000 increments. The minimum amount available is $100,000. If your spouse is not a Credit Union Member, you may still apply for coverage for him/her provided you (the member) are insured. 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.

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 Puerto Rico and Canada (except Quebec).

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 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 25, provided they remain otherwise eligible, premiums are paid when due 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.

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.

What does this coverage cost?
Please refer to the enclosed rate table. Your premiums are based on your gender, current age and your health. You may also qualify for Preferred Rates, as shown on the rate table, depending on your health status and other factors determined by New York Life. The paragraphs above the enclosed rate table explain how premiums are conveniently paid through your designated Credit Union account.

What are my renewal rates?
Premium payment amounts for the first 10 years are guaranteed not to change. Rates after 10 years will be annually renewable at non-guaranteed rates and will be based on your then-attained age (unless you apply for a new 10 year period subject to approval by New York Life). Coverage will be renewed regardless of health. Rates charged after the first 10 years will be the then-prevailing rates charged under the LifeRing Group Term Life Insurance Plan. The current rates are available upon request.

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 to cancel your enrollment and receive a full refund of any premiums paid.

How do I apply for coverage?
It is easy to apply for LifeRing^sm Simply complete the enclosed enrollment form (and the Supplement to Application if you think you may qualify for the Preferred rates) and return it in the postage-paid envelope provided. There is no need to send money now; premiums will be deducted from your designated Credit Union account after your coverage is issued.

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

Residents of Florida: Thomas D. Roebig is a licensed agent for Florida residents.

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.

About new York Life
New York Life has consistently received the highest ratings for financial strength from The leading independent rating services: A.M. Best, Fitch, Standard & Poors, and Moody's Investors Service.

This brochure is a summary of benefits only and is subject to the terms, conditions and limitations of Group Policy G 10658-0. Complete details on benefits and provisions are included in the Certificate of Insurance issued to each insured on Policy Form GMR.