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     Some NYSUT members receive employer or benefit fund provided Term Life Insurance programs. These programs have the advantage of providing low-cost, easily obtainable life insurance coverage during a member's working years, and even beyond.

     Many members supplement that coverage with NYSUT voluntary Term Life Insurance that they pay for themselves.  However, term life insurance coverage usually reduces at preset ages, or sometimes ceases altogether.

     In addition, premiums for Term Insurance usually increase with age. (These changes are not under your control.)

     To address these concerns, the NYSUT Benefit Trust has added a voluntary life insurance program called the WrapPlan®. The NYSUT WrapPlan is not a Term Life Insurance replacement. It is a specially designed Universal Life Insurance program which will coordinate with existing Term Life and accomplish the following:

  1. Offset decreases in existing Term Life coverages

  2. Eliminate medical requirements

  3. Eliminate costly conversions at retirement or employment separation

  4. Provide coverage with cash accumulation values

  
NYSUT WrapPlan® is a Group Universal Life Insurance policy available exclusively to members of NYSUT.  Coverage is underwritten by Transamerica Life Insurance Company of New York (Home Office: Purchase, NY); policy form series 3-180 38-197.