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Presented and Administered
by Selman & Company

Group Accidental Death & Dismemberment Insurance
Underwritten by New York Life Insurance Company
:: Plan Description

The following information describes a member insurance benefit available to all participating Credit Union members ages 18 and over. Please read carefully.

Plan Features

Coverage
The plan offers full 24-hour protection against a covered accidental injury anywhere in the world (subject to U.S. regulations on restricted countries), on or off the job, on business, on vacation and at home. It covers you while flying (as a passenger only) in any licensed civilian aircraft. Your eligible dependents will be covered only if you elect the Family Plan.

Eligibility
If you are an active member of a participating Credit Union, you are at least 18 years old and residing in the U.S. (except FL, NY, SD, VT and WA), you may take advantage of $2,000 of Group Accidental Death & Dismemberment (AD&D) Insurance, at no cost to you. As such, you are also eligible to enroll in the Voluntary AD&D Plan (premiums will be conveniently deducted from your Credit Union account) for you, your lawful spouse, and your unmarried dependent children under age 19 or under age 25 if a full-time student. The Basic (non-contributory) Coverage is for the member only. You must reside in the U.S. (except FL, NY, SD, VT, and WA).

Family Protection
If the Family Plan is selected, it will automatically insure your lawful spouse for 50% of your Voluntary Principal Sum (60% if there are no dependent children). Each eligible dependent child will be insured for 20% of the Voluntary Principal Sum.

Benefits up to $300,000
We think you'll wish to consider the merits of selecting Voluntary protection. The cost is affordable (just pennies per day) for up to $300,000 of benefits. Plus, when you purchase any one of the Voluntary Principal Sum amounts, you'll receive added insurance benefits. These are terrific values and combine to make this a fine protection package.

Benefit Amount and Premium Information
If you choose the Voluntary Coverage in addition to the Basic Coverage paid for by your Credit Union, you become eligible for the Family Plan. The chart below illustrates Member Only and Family Plan monthly premium rates. Coverage is available up to $300,000, in the options shown. Many Credit Union members choose an amount approximately two to five times their annual income. You should select the amount that is closest to your family's needs.

Your Cost

Current Monthly Premiums as of 2014

Voluntary Principal Sum*

Member Only Cost Per Month

Family Plan Cost Per Month

$10,000

$1.10

$1.65

25,000

2.75

4.13

50,000

5.50

8.25

100,000

11.00

16.50

150,000

16.50

24.75

200,000

22.00

33.00

250,000

27.50

41.25

300,000

33.00

49.50

A $0.25 monthly administrative fee will be added. (Alternate deduction options are available exclusive of this fee; contact the Administrator for more information.)

*Please note that coverage reduces at later ages, as described below, under Benefits at Later Ages.

The premium contributions shown reflect the current rate and benefit structure. Benefit amounts are not guaranteed and are subject to change by agreement between the Executive Trust and New York Life Insurance Company. Premiums may be changed by agreement between the Executive Trust and New York Life on any premium due date and on any date which benefits are changed. However, your rates may be changed only if they are changed for all others in the same class of insureds. For example, a class of insureds is all others with the same issue age.

Added Benefits

Choosing Voluntary Insurance Provides You With Valuable Added Benefits Including:

1) Inflation Protection Benefit
Your Voluntary Principal Sum will increase 5% after 24 months of continuous coverage and each 24 months thereafter on your anniversary date, up to a maximum of 25%. If you increase your coverage, this benefit will be applied separately to each additional amount. Likewise, if coverage is reduced, any benefit which was increased will be reduced proportionately.

2) Accident In-Hospital Benefit
When a covered accident requires that an Insured Person be hospitalized, the plan will pay a monthly benefit of 1% of the Voluntary Principal Sum beginning with the first day of hospitalization so long as the Insured Person is confined in-hospital for at least 8 days, and said confinement commences within 30 days of the accident. The benefit is payable for each month of continuous confinement up to a maximum period of 12 months. Pro rata payment will be made for periods less than a full month.

3) Common Carrier Coverage
Voluntary benefits will be doubled if the loss results from an injury that occurs while the Insured Person is riding as a fare-paying passenger, in or on, or is struck by a public conveyance being operated commercially by a licensed common carrier to transport passengers for hire.

4) Education Benefit
If the death of the Insured Member results from a covered accident, the plan will pay in addition to all other benefits, 2% annually, up to $5,000, of the Voluntary Principal Sum on behalf of any insured dependent child who, on the date of the accident, is enrolled as a full-time student in a school for higher learning (e.g. college or vocational school). Benefits are also payable if the child subsequently enrolls as a full-time student in a school for higher learning within one year following the date of the member's death. These benefits are payable for a maximum of four consecutive years, but will end earlier if the dependent child ceases to be enrolled as a full-time student in a school for higher learning or reaches age 25. If no children qualify, 2% of the Insured's Voluntary Principal Sum will be paid to the Beneficiary.

5) Return Of Premium
If you are insured under the Voluntary Plan and you or your covered spouse die as the result of a covered accident, your benefit will be increased by an amount equal to all premiums you paid for coverage up to the date of the covered accident. For the purposes of this calculation, your spouse's premium would be calculated as the difference between the Family Plan and the Member Only plan.

6) Burn Disfigurement Benefit
An additional benefit is paid if the covered loss results from an accident and which causes the Insured person to suffer a disfigurement due to burns covering at least 5% of his/her body.

Note: Benefits 1-6 described above are not included in the No-Cost (Basic) coverage.

How the Plan Works

Your Benefit Payment Summary
If a specified loss is caused directly and independently by an accidental injury while coverage is in force, and said loss occurs within 365 days of the injury, the plan will pay as follows:

% of Principal Sum

Loss of Life

100%

Loss of Two Limbs

100%

Loss of Sight of Both Eyes

100%

Loss of Speech and Hearing

100%

Loss of One Limb

50%

Loss of Sight of One Eye

50%

Loss of Speech or Hearing

50%

Loss of One Limb and the Loss of One Sight in One Eye

100%

Loss of Thumb and Index Finger of Same Hand

25%

Quadriplegia (total paralysis of both upper and lower limbs)

25%

Paraplegia (total paralysis of both lower limbs)

12.5%

Hemiplegia (total paralysis of upper and lower limbs on one side of the body)

12.5%

Loss of limb means actual severance at or above the wrist or ankle joint. Loss of sight, speech, and hearing means complete and irrevocable loss thereof. Paralysis means complete and irreversible paralysis of such limbs. The total benefit payable for all losses due to a single accident will not be more than the Principal Sum. Only one amount, the largest to which the Insured Person is entitled, is paid for all losses resulting from one accident.

Additional Plan Provisions

Beneficiary
The beneficiary is the person last designated by you in writing, and recorded as such by or on behalf of New York Life. Payments for losses other than for your loss of life will be made to you. The beneficiary for dependent(s) coverage is the member.

Benefits at Later Ages
The Basic benefit amount and the Voluntary benefit amount reduce by 50% at member age 70 and are further reduced by 50% at member age 75.

Effective Date of Coverage
The $2,000 of Basic Coverage is effective the first of the month following acceptance of the Enrollment Form. Your new or increased Voluntary coverage will become effective on the date specified by New York Life Insurance Company, provided the initial premium contribution has been paid and a completed application has been submitted and approved. Thereafter, premium will be deducted from your account as indicated on your Enrollment Form. A Certificate of Insurance will be provided.

30-Day Free Look
When you receive your Certificate of Insurance, read it carefully. If you are not completely satisfied with the terms of your new insurance, simply return your Certificate, without claim, within 30 days and your premium will be promptly refunded. Your insurance will then be invalidated.

Termination
Your coverage will end on the earliest of the next premium due date if you are no longer an eligible member of a Credit Union that is participating in the Executive Trust; the premium due date, if the required premium is not paid when due; the date the insured person enters full-time active duty in the Armed Forces; the date the group policy is terminated or modified to end coverage for the class of eligible persons to which the Insured Person belongs; or the date the Insured Person requests to end such coverage. Termination will not affect a claim for a covered loss due to an accident that occurred while coverage was in effect. Coverage for your insured spouse or child will end when your coverage ends or when the dependent eligibility requirements are no longer being met.

Exclusions and Limitations

No benefits will be paid for a loss caused by or resulting from: intentionally self-inflicted injury, suicide or any attempt thereat, while sane or insane; voluntary self-administration of any drug or chemical substance not prescribed by, and taken according to the directions of a doctor (accidental ingestion of a poisonous substance is not excluded); use of alcohol; incarceration for or participation (except as a victim) in a crime, illegal occupation/activity, riot, insurrection of terrorist activity; declared or undeclared war or act of war; an accident which occurs while on active duty service in any armed forces; the covered person's participation in an organized race; hang-gliding, parasailing, or parachuting, except parachuting for self-preservation; operating, riding in or descending from any aircraft except when riding as a passenger on a commercial flight; sickness, disease, bodily or mental infirmity or medical or surgical treatment thereof; or bacterial or viral infection, regardless of how contracted.




This information is a brief description of important features of the plan. It is not a contract. The complete terms and conditions of coverage are set forth in group policy number G-29213-2 on Policy Form GMR issued in Delaware to the Executive Trust. The group policy is subject to the laws of the jurisdiction in which it is issued. Additional information is contained in the Certificate of Insurance which is issued to the persons who become insured under the plan. The availability of this offer may change. Please keep this material as a reference for filing with your Certificate of Insurance. You must also be a member of a Credit Union participating in the Executive Trust.

New York Life is licensed/authorized to transact business in all of the 50 United States, Puerto Rico, and Canada. However, not all of the group plans it underwrites are available in all jurisdictions. Please contact the Administrator for current information. New York Life's State of Domicile is New York, and their NAIC # is 66915.

Selman & Company is licensed/authorized to transact business in all 50 United States. Their Arkansas Insurance License No. is 232779, their California Insurance License No. is 0610394, and their State of Domicile is Ohio.

Your Credit Union incurs costs in connection with this sponsored plan. To provide and maintain this valuable member benefit, it is reimbursed for these costs. Your Credit Union also receives a fee in connection with this plan.

This Group Accidental Death & Dismemberment Insurance Plan is underwritten by: New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 under Group Policy No. G-29213-2 on Policy Form GMR-FACE/G-29213-2.

AR lic# 247064 CA lic# 0I01599

Accidental Death & Dismemberment Insurance
Underwritten by New York Life Insurance Company
51 Madison Avenue, New York, NY 10010 on Policy Form GMR
Sponsored by Parda Federal Credit Union
Presented and Administered by Selman & Company
6110 Parkland Boulevard
Cleveland, OH 44124
877-665-7563 - Phone
440-646-9339 - Facsimile
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