Supplemental
Insurance
Why
your family's financial security may not be complete without it.
Why
do I need supplemental insurance protection?
The
purpose of supplemental insurance is simple...it fills the gaps
other life insurance policies leave open. For example, many employer-provided
benefits only provide essential life insurance protection and are
not designed to cover all your needs.
If your lifestyle has recently changed and you've had a baby...purchased
a new or larger mortgage...or now have children entering college...it's
especially important to update your family's financial protection
by adding supplemental coverage.
Inflation is another reason you may need supplemental
coverage. Over time, inflation can substantially reduce the purchasing
power of your life insurance dollar. Here's what it can do to
$100,000 of coverage:
That's why it's vital to review and update
your life insurance every couple of years, especially if there
have been changes in your family's lifestyle.
How
much life insurance do I need?
Generally,
experts recommend you have life insurance that equals between
5 to 9 times your current salary.The 5 times amount will help
keep your family's standard of living consistent with what you
have now.Life insurance that equals 9 times your annual income
will more accurately account for your future earning potential.
To
calculate how much life insurance you need at this time, fill
in the information below and make calculations.
What type of supplemental insurance protection
should I buy?
Everyone's
needs are different, but the type of supplemental life insurance
protection most experts recommend is term life insurance. That's
because term life is pure insurance without added costs to cover
cash values, loans or any other extra frills. It's one of the best
insurance buys for your money.
Five
supplemental insurance plan options
As
a NEA member, you have 5 plan options from which to choose. Each
is designed to be economical and to help to provide valuable coverage
for various needs and lifestyles. Click below to learn more...
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A
Level Premium Term Life Insurance Plan
Up
to $250,000 of coverage is available to NEA members up
to age 49...up to $100,000 of coverage is available to
NEA members between the ages of 50 and 69...and up to
$10,000 is available for members age 70 and over. You
get 10 plans from which to choose...and a 20% discount
applies to most plans.
NEA
Decreasing Term Life
Provides up to $150,000 of coverage for members
up to age 64...up to $75,000 for members between the ages
of 65 and 69...and up to $15,000 for members age 70 and
over. Coverage is available for spouses or domestic partners
and dependent children as well! You get more coverage
during the years your family needs it most.
NEA
Home Protection Plan
Provides coverage from $10,000 to $300,000and is available
to all NEA members who want extra protection to help cover
their mortgage or other major financial obligations.
NEA
Guaranteed Issue Life Insurance Plan
Provides up to $10,000 of coverage and is available
to all NEA retired members age 55 and over. You cannot
be turned down for coverage - your acceptance is guaranteed.Another
affordable way to help strengthen your family's financial
security is through Accidental Death and Dismemberment
(AD&D) coverage. Even though many people prefer to
think "it won't happen to them," the truth is, accidents
are the leading cause of death for people under the age
of 38 and the 5th leading causeof death for all ages.*
So why risk it?
With
the NEA
AD&D Insurance plan**
,you can get up to $520,000 of coverage foras little
as $19 a year. Your whole family is guaranteed coverage.
You cannot be turned down.
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For
more detailed information on any NEA
Supplemental insurance Plan, call toll-free:
1-800-637-4636
Monday-Friday,
8am to 8pm (or Saturday, 9am to 1pm) ET
If
you're hearing impaired, call our toll free TTY line:
1-800-445-1269
A professional, knowledgeable staff member will be happy to assist
you.
* Accident
Facts, National Safety Council, 1997
** Residents of New York: This policy provides ACCIDENT insurance
only. It does NOT provide basic hospital, basic medical or major
medical insurance as defined by New York State Insurance Department.
IMPORTANT NOTICE - THIS POLICY DOES NOT PROVIDE COVERAGE FOR SICKNESS.
Life Insurance and Accidental Death & Dismemberment
Insurance coverages are underwritten by The Prudential Insurance
Company of America, 751 Broad Street, Newark, NJ 07102. This website
article is intended to be a summary of your benefits and does
not include all plan provisions, exclusions and limitations. A
Booklet-Certificate, with complete plan information, including
limitations and exclusions, will be provided. If there is a discrepancy
between this document and the Group Contract /Booklet-Certificate
issued by Prudential, the terms of the Group Contract will govern.
Contract series 83500. Contract series GC-3490 ORD 70075 Serial
U, in New York: GO-31490 GRP31300. INSTA000628
.Let
our strength be your security.Get solid financial protection with
NEA Member Benefits.
