City Colleges of Chicago Optional Life and AD&D Insurance

Open Enrollment

22

Is someone you love relying on you?

Then you need life insurance

33

The Need for Life Insurance

Most people know the value of Life Insurance 75% of Americans agree Life Insurance is the

best way to protect against premature death of a primary wage earner.

But many have not prepared 25% feel they do not have a plan in place to

provide a decent standard of living for their family if they died tomorrow.

All statistics from www.LIMRA.com

44

How Much Do I Need?

You choose the amount that works for you. Use the chart below to help you figure it out.

Yearly Financial Obligations:

Housing Cost Car Payments

Credit Card Debt Personal Loans

Medical Coverage Family Care Requirements

Educational Needs Other Expenses

How long will you need to cover these expenses?

Total Need (Total Financial Obligations x Number of years):

Other life insurance currently in place:

Amount of Optional Life Insurance you might need (Total Need – Other life insurance):

55

What Is Optional Group Life Insurance?

An opportunity to purchase more life insurance protection for you, your spouse and/or children.

Supplements your Basic Life coverage.

City Colleges of Chicago currently provides you with term life insurance of two times your annual salary to a maximum amount at no cost to you.

This coverage became effective on your date of hire.

Gives you more financial security at an affordable price.

Enrollment is voluntary and you decide how much to purchase.

66

When Does the Plan Begin & Who is Eligible?

The Plan begins on April 1, 2011

All active, full-time employees, who currently are provided with term life insurance

Their spouses

Dependent children up to age 19 (or 23 if a full-time student)

77

Highlights of

your Optional Group Life Insurance plan

88

Plan Highlights –You

You may elect increments of $25,000 to a maximum of $750,000.

You are guaranteed coverage if your election is $250,000 or less.

If you want more coverage, you must submit evidence of insurability (proof of good health).

Benefits cease at retirement (conversion option available).

Accidental Death and Dismemberment (AD&D) benefit provides an additional benefit up to the optional life amount elected if you suffer a covered loss due to accident.

You must elect Optional Group Life to elect optional AD&D.

99

Plan Highlights – Your Spouse

Your spouse may elect increments of $10,000 to a maximum of $250,000.

Your spouse is guaranteed Group Optional Life Insurance coverage in the amount of $100,000.

Your spouse’s coverage may not exceed 100% of your coverage.

You must elect Optional Group Life Insurance for yourself in order to cover your spouse.

Spouse coverage ends at age 70 (conversion option available).

1010

Plan Highlights – Your Children

You may elect increments of $2,500 to a maximum of $25,000.

There is a reduced benefit of $500 for children aged 14 days to 6 months.

The cost is the same whether you enroll one child or several children.

Benefits cease when your child turns 19 or 23 if a full-time student (conversion option available).

You must elect Optional Group Life Insurance for yourself in order to cover your children.

Your child’s coverage may not exceed 50% of your coverage.

1111

Life Insurance - What is Not Covered?

If the cause of death is suicide:

• No life insurance amount is payable if the suicide occurs within 24 months after the insurance is effective.

• No increased or additional amount of life insurance is payable if the suicide occurs within 24 months after the increased or additional amount of life insurance is effective.

• No amount of life insurance in excess of the Guaranteed Issue Amount is payable if the suicide occurs within 24 months after the amount in excess of the Guaranteed Issue Amount is effective.

1212

Voluntary AD&D – What is Not Covered?

No AD&D payment will be made for a loss which is due to or results from:

Suicide or intentionally self-inflicted injuries.

Bodily or mental infirmity or disease of any kind, or infection.

Committing or attempting to commit an assault, felony or other illegal act.

Active participation in a war, riot, rebellion or insurrection.

Voluntary use of any controlled substance unless administered on the advice of a physician.

Operation of any motorized vehicle while intoxicated.

1313

Evidence of Insurability (EOI) If you elect coverage over the guaranteed issue amount.

If you want to enroll or increase your coverage at a later date.

You can submit EOI online at www.sunlife-usa.com Simply go to the Plan Members section. Under

Evidence of Insurability, click Start.

Follow the instructions on the screen.

You’ll be able to review your answers and submit your application electronically.

Or Complete the paper form.

Plan Highlights – Evidence of Insurability

1414

Accelerated benefits If you are terminally ill with 12 months or less to live, you may

have access to up to 75% of your total death benefit amount.

Claim settlement bank account Your beneficiaries can receive an interest-bearing account with

check-writing privileges on policy proceeds that can be accessed at any time.

Conversion: You can convert your insurance to an individual whole life

policy without providing EOI .

Portability You may also continue your Group Life insurance coverage—at

Group rates—if your employment terminates.

Plan Highlights – Additional Features

1515

finding your cost and enrolling

for peace of mind

1616

Simply fill out your personalized enrollment forms (mailed to your home).

Select the amount of coverage you want for you, your spouse and children (if applicable).

Designate primary and secondary beneficiaries.

Submit Evidence of Insurability when necessary.

Return completed enrollment forms to:

District Office of Human Resources, Benefits Division so it is received by March 15, 2011.

How Do I Enroll?

1717

How Much Does It Cost?

The cost is determined by your age, annual salary and amount of insurance.

You are responsible for paying 100% of the cost.

The rates change as you get older.

Your personalized enrollment forms (mailed to your home) include your actual cost per pay period.

Premiums will automatically be deducted bi-weekly from your paychecks.

1818

Why Should I Buy this Coverage Now?

If you enroll during this open enrollment, coverage is available on a “guaranteed issue” basis (up to a predetermined amount), and you do not have to answer any health questions.

1919

What Happens If I Do Not Enroll Now?

If you apply at any other time, you will be required to provide proof of good health.

Based on the health information you provide, you may be declined coverage.

2020

Can I Cancel Coverage?

Yes

You may cancel the coverage at any time. Please notify in writing the District Office of Human

Resources, Benefits Division.

We Listen. We Care. We Deliver Peace of Mind.

Group insurance policies are underwritten by Sun Life Assurance Company of Canada (Wellesley Hills, MA) in all states, except New York, under Policy Form Series 93P-LH, 98P-ADD, TDBPolicy-2006, 02-SL, 07-SL, and 01C-LH-PT. In New York, group insurance policies are underwritten by Sun Life Insurance and Annuity Company of New York (New York, NY) under Policy Form Series 93P-LH-NY, 06P-NYDBL, 02P-NYSTD, 98P-ADD-NY, 02-NYSL, 07-NYSL, and 01NYC-LH-PT . Group insurance policies are underwritten by Sun Life and Health Insurance Company (U.S.)* (Wellesley Hills, MA) in all states under Policy Forms Series GP-A and GP-D (or appropriate state edition). Product offerings may not be available in all states and may vary depending on state laws and regulations.

*Formerly known as Genworth Life and Health Insurance Company.

©2008 Sun Life Assurance Company of Canada, Wellesley Hills, MA 02481. All rights reserved. Sun Life Financial and the globe symbol are registered trademarks of Sun Life Assurance Company of Canada. Visit us at www.sunlife-usa.com

SLPC 18581 3/08 (exp. 3/10)