Disability Insurance Plan

You are eligible to apply for the SPE Disability Income Group Insurance if:

• you a member of the Society of Petroleum Engineersand actively engaged in your occupation on a full-time basis (at least 20 hours per week), and
• you are under age 60.
• you are a resident of the United States*.

*Note: Certain state restrictions may apply. Due to state regulations, the coverage is not available in SD. Please call 1-800-337-3140 or e-mail speinsurance@agia.com for the status of approval.

Choice of Coverages

You can choose from three coverages according to how long you want to receive monthly payments.

Coverage 1: Two-Year Accident, Two-Year Sickness

When you are totally disabled by a covered accident or sickness, you will receive monthly payments for 24 months if you are unable to perform the duties of your own occupation and under age 63. For disabilities beginning while age 63, benefits will be paid until you turn 65. For disabilities beginning at age 64 or over, benefits will be paid for 12 months.

Coverage 2: Accident to Age 65, Sickness to Age 65*

When you are totally disabled by a covered accident or sickness, you will receive monthly payments for 5 years if you are unable to perform the duties of your occupation. After 5 years, you must be unable to perform the duties of any occupation for which you are suited by reason of training, education, and experience. As long as you continue to meet the definition of disability and are under the regular care of a licensed physician, the monthly benefits will continue to age 65. On the November 1^st on or after you reach age 63, coverage under Coverage 2 automatically transfers to Coverage 1: This coverage comes with an option for a cost of living adjustment (COLA) which provides for increasing benefits while an insured is on claim. If you select this option, benefits would increase a maximum of 5% after the first 12 months of disability, may never exceed 150% of the pre-adjusted monthly benefit, and are not subject to the overall maximum monthly benefit. When the covered disability ends as defined in the "When the Benefit Ends" section of the Disability Insurance page of your Certificate of Insurance, the monthly benefit will be reduced to the pre-adjusted monthly benefit. There is an additional cost for a COLA option, which is reflected on the Premium Page.

Coverage 3: Five-Year Accident, Five-Year Sickness

When you are totally disabled by a covered accident or sickness, you will receive monthly benefits for 5 years if you are unable to perform the duties of your own occupation and are under age 63. For disabilities beginning while age 63, benefits will be paid until you turn 65.

For all three coverages, benefits will continue until the earlier of a) the day the insured ceases to be disabled, or b) the end of the maximum benefit period.

* Maximum benefit for mental/nervous, drug and alcohol is 24 months.

Choice of When Benefits Begin

There is a waiting period from the day you become disabled to the day your monthly payments begin. A waiting period is the number of days the insured must be continuously disabled by a covered illness or injury before benefits commence. How long is up to you.

You can choose between:

• Monthly payments beginning on the 61^st day after disability.
• Monthly payments beginning on the 181^st day after disability.

Here's How Residual Benefits Can Work for You

If you are an insured who returns to work after a covered disability which began before age 64, you may be entitled to a residual benefit if:

• A total disability income benefit was paid for the disability for at least 30 consecutive days;
• You did not receive benefits for the full maximum period applicable to the disability; and
• Your current average earnings during the most recent 6 months after the total disability ends are no more than 75% of your pre-disability income. (Pre-disability income is the member's average "earned income" for the 12 months or 24 months prior to the onset of total disability, whichever is higher.)

The residual benefit is a percentage of the total disability benefit equal to the percentage reduction of monthly earnings. However, for each month that the percentage reduction is 75% or more, the coverage will pay the full total disability benefit.

For example, if your last monthly total disability income benefit was $2,000 and you have a 40% reduction in current earnings, the residual benefit would be 40% of $2,000 or $800 a month. No residual benefit will be payable until the waiting period has been satisfied.

The residual benefit will be paid for as long as the total disability income benefit would have been paid if the underlying total disability had continued, or until 6 consecutive months elapse without your qualifying for residual benefits, whichever comes first.

Rehabilitation Benefits

If you are receiving disability benefits and wish to enroll in a vocational rehabilitation program, New York Life may approve participation for three consecutive months with possible extensions up to 24 months. A benefit of $10,000 for workplace modification as part of vocational rehabilitation is also available. These benefits are subject to evaluation and approval by New York Life.

Special Organ Transplant Donor Benefit

If you undergo surgery for organ donation, the coverage will pay benefits from the first day of total disability with no waiting period.

Benefits for Recurring Disability

Successive periods of disability that are due to the same or related causes and are not separated by return to full-time work of six months or more will be considered one period of disability.

Premium Payment During Total Disability

If you receive benefits for six consecutive months and you are under age 60, you will not have to make additional premium payments for as long as you receive benefits for that total disability.

Covered Total Disability

During the WAITING PERIOD and during the next 24 consecutive months for Coverage 1, covered total disability is:

1. An incapacity from:
   • a) an INJURY or SICKNESS that completely and continuously prevents an INSURED MEMBER from doing the material and substantial duties of his or her regular occupation or occupational specialty; or
   • b) an ORGAN DONATION that an INSURED MEMBER makes provided he or she has been insured under the Policy for at least six consecutive months on the day of such donation, and such ORGAN DONATION continuously prevents an INSURED MEMBER from doing the material and substantial duties of his or her regular occupation or occupational specialty; and
2. The INSURED MEMBER must have been regularly and primarily engaged in his or her regular occupational specialty at the time the Covered Disability commences; and
3. If the INSURED MEMBER engages in a new occupation following the commencement of his or her Covered Total Disability, his or her earning must not exceed 75% of his or her AVERAGE MONTHLY INCOME for the period before his or her Covered Total Disability commenced.

Average Monthly Income means the monthly average of the following for the immediately preceding 12 month period before the determination is made, or if it produces a higher average, the immediately preceding 24 month period before the determination is made.

When Insurance Ends

Once coverage is in force, it cannot be terminated by the insurance company until the anniversary date on or after the date you reach age 75, retire, cease to be a member, cease to be actively engaged in full-time employment (at least 20 hours per week), fail to pay premiums when due, or when the group policy is terminated by New York Life or the Group Policyholder.

Exclusions and Limitations

The policy does not provide benefits for any disability caused by or resulting from: intentionally self-inflicted injuries while sane or insane (Missouri residents: the exclusion for intentionally self-inflicted injury is not applicable to injuries caused by an attempted suicide while insane); pregnancy, childbirth except complications of pregnancy; declared or undeclared war or any act of either; disability beyond 24 months after the waiting period if it is due to alcoholism or drug addiction; participation in an illegal occupation or attempt to commit a felony; any condition which is the subject of a waiver or impairment rider attached to your Certificate; any period of a disability during which time the insured is not under the direct care and treatment of a licensed physician.

The coverage does not cover any loss commencing while an insured is in the armed services of any country. Orders to active military service for training purposes of 2 months or less shall not, for the purposes of this exclusion, constitute service in the armed forces of any country. Upon notification to us of entering the armed forces of any country, we will return to the insured pro-rata any premium paid for the period during which the insured is in such service.

Effective Date

Your coverage becomes effective on the date it is approved by the Insurance Company, provided your first premium payment has been received within 31 days of the date you are billed and you are working full-time (20 hours per week) on the date coverage is approved. If you are not at full-time work, insurance will not become effective until the day you return to work full-time provided such date is within three months of the date insurance would have been effective and you are still eligible for insurance.

Benefit Amount

The benefit amount you choose, alone or with any other disability income insurance you have, cannot exceed 60% of your "earned income." Coverage is available from $300 to $10,000 in units of $150. The maximum monthly benefit amount of insurance you may have under the SPE Insurance Disability Insurance is $10,000. For all of your disability coverages combined, the maximum monthly benefit must not exceed 60% of your Average Monthly Income.

On the November 1^st on or after you reach age 70, monthly benefits are reduced to $300.
Full premiums continue to be payable.

This Simple SPE Disability Income Insurance Worksheet Can Help You Decide How Much Coverage You May Need.

This worksheet can provide you with a guide to how much disability income insurance you may need to cover your monthly expenses - the expenses that will not stop if you become disabled and are unable to work.
Your Monthly Expenses...

A. Mortgage/rent	$
B. Transportation - car payment, insurance	$
C. Food	$
D. Loans and credit cards	$
E. School Tuition	$
F. Other - phone, utilities, etc.	$
Total of Your Monthly Expenses:
The maximum monthly benefit available to you under the SPE Disability Income Coverage (Total x 60%):

Although your insurance needs may vary depending on your individual finances and additional income such as royalties, rent or dividends, your Total in Monthly Expenses is the approximate disability insurance benefit you should consider having during your disability.

Current 2024 Semiannual Premiums

Your cost is based on your age when coverage becomes effective and increases each November 1^st on or after you enter a higher age bracket. If you wish to pay quarterly, divide the premiums shown in half. The annual payment is twice the amount shown.

Coverage 1: Two-Year Accident or Sickness

Benefits Begin on the 61^st Day After Disability

Member's Age	$150 Base Increment	$2,250 Per Month	$3,000 Per Month	$4,500 Per Month	$6,000 Per Month	$9,000 Per Month
Under 30	2.50	37.50	50.00	75.00	100.00	150.00
30-39	2.75	41.25	55.00	82.50	110.00	165.00
40-49	4.75	71.25	95.00	142.50	190.00	285.00
50-59	9.00	135.00	180.00	270.00	360.00	540.00
60-63*	17.00	255.00	340.00	510.00	680.00	1020.00
64-69*	18.60	279.00	372.00	558.00	744.00	1116.00
70-74	28.50

Benefits Begin on the 181^st Day After Disability

Member's Age	$150 Base Increment	$2,250 Per Month	$3,000 Per Month	$4,500 Per Month	$6,000 Per Month	$9,000 Per Month
Under 30	1.60	24.00	32.00	48.00	64.00	96.00
30-39	1.90	28.50	38.00	57.00	76.00	114.00
40-49	3.40	51.00	68.00	102.00	136.00	204.00
50-59	6.25	93.75	125.00	187.50	250.00	375.00
60-63*	13.00	195.00	260.00	390.00	520.00	780.00
64-69*	14.00	210.00	280.00	420.00	560.00	840.00
70-74	20.00

*Renewal only.

On the November 1^st on or after your 70^th birthday, monthly benefit reduces to $300.
Full premiums continue to be payable.

Rates are subject to change on a classwide basis on any premium due date and on any date on which benefits are changed. However, your rates may change only if they are changed for all others in the same class of insureds under this group policy. For example, a class of insureds is a group of people with all the same issue age or benefit amount. Rates increase as you enter the next higher age bracket. Future benefits are subject to change by agreement between New York Life and the Policyholder.

Premiums may be paid quarterly, semi-annually, or annually.

Note: A $2.00 administrative fee is added for billing modes other than annual.

Questions? Please call the SPE Administrator at 800-337-3140 or email speinsurance@agia.com.

Coverage 2: Accident or Sickness to Age 65

Coverage 2 includes an optional Cost of Living Adjustment (COLA) benefit. Benefits for insureds who elect this option will increase according to the Consumer Price Index after the first year of a covered disability, subject to an annual maximum of 5% and an overall maximum of 150% of their original issued benefit amount.

Benefits Begin on the 61^st Day After Disability

	$150 Base Increment		$1,500 Per Month		$3,000 Per Month		$6,000 Per Month
Member's Age	Without COLA	With COLA	Without COLA	With COLA	Without COLA	With COLA	Without COLA	With COLA
Under 30	5.15	6.62	51.50	66.20	103.00	132.40	206.00	264.80
30-39	6.00	7.85	60.00	78.50	120.00	157.00	240.00	314.00
40.49	11.00	13.76	110.00	137.60	220.00	275.20	440.00	550.40
50-59	17.75	20.76	177.50	207.60	355.00	415.20	710.00	830.40
60-63* **	18.60	21.61	186.00	216.10	372.00	432.20	744.00	864.40

Benefits Begin on the 181^st Day After Disability Day

	$150 Base Increment		$1,500 Per Month		$3,000 Per Month		$6,000 Per Month
Member's Age	Without COLA	With COLA	Without COLA	With COLA	Without COLA	With COLA	Without COLA	With COLA
Under 30	4.00	5.47	40.00	54.70	80.00	109.40	160.00	218.80
30-39	4.75	6.60	47.50	66.00	95.00	132.00	190.00	264.00
40.49	8.75	11.51	87.50	115.10	175.00	230.20	350.00	460.40
50-59	13.75	16.76	137.50	167.60	275.00	335.20	550.00	670.40
60-63* **	14.00	17.01	140.00	170.10	280.00	340.20	560.00	680.40

*Renewal only.

**On the November 1^st on or after your 63^rd birthday, coverage transfers to Coverage 1.

Rates are subject to change on a classwide basis on any premium due date and on any date on which benefits are changed. However, your rates may change only if they are changed for all others in the same class of insureds under this group policy. For example, a class of insureds is a group of people with all the same issue age or benefit amount. Rates increase as you enter the next higher age bracket. Future benefits are subject to change by agreement between New York Life and the Policyholder.

Premiums may be paid quarterly, semi-annually, or annually.

Note: A $2.00 administrative fee is added for billing modes other than annual.

Coverage 3: Five-Year Accident or Sickness

Benefits Begin on the 61^st Day After Disability

Member's Age	$150 Base Increment	$2,250 Per Month	$3,000 Per Month	$4,500 Per Month	$6,000 Per Month	$9,000 Per Month
Under 30	3.34	50.10	66.80	100.20	133.60	200.40
30-39	4.12	61.80	82.40	123.60	164.80	247.20
40-49	7.92	118.80	158.40	237.60	316.80	475.20
50-59	15.40	231.00	308.00	462.00	616.00	924.00
60-63* **	18.60	279.00	372.00	558.00	744.00	1116.00

Benefits Begin on the 181^st Day After Disability Day

Member's Age	$150 Base Increment	$2,250 Per Month	$3,000 Per Month	$4,500 Per Month	$6,000 Per Month	$9,000 Per Month
Under 30	2.47	37.05	49.40	74.10	98.80	148.20
30-39	3.35	50.25	67.00	100.50	134.00	201.00
40-49	6.58	98.70	131.60	197.40	263.20	394.80
50-59	12.00	180.00	240.00	360.00	480.00	720.00
60-63* **	14.00	210.00	280.00	420.00	560.00	840.00

*Renewal only.

**On the November 1^st on or after your 63^rd birthday, coverage transfers to Coverage 1.

Rates are subject to change on a classwide basis on any premium due date and on any date on which benefits are changed. However, your rates may change only if they are changed for all others in the same class of insureds under this group policy. For example, a class of insureds is a group of people with all the same issue age or benefit amount. Rates increase as you enter the next higher age bracket. Future benefits are subject to change by agreement between New York Life and the Policyholder.

Premiums may be paid quarterly, semi-annually, or annually.

Note: A $2.00 administrative fee is added for billing modes other than annual.

For Coverage 1:
During the waiting period and thereafter, you will be considered totally disabled if you are unable to perform the substantial and material duties of your regular occupation or occupational specialty for up to a maximum of 24 months.

For Coverages 2 and 3:
During the waiting period and thereafter, you will be considered totally disabled if you are unable to perform the substantial and material duties of your regular occupation or occupational specialty for up to a maximum of 5 years. After the first 5 years, you must be unable to perform the duties of any occupation for which you are suited by reason of training, education, and experience to continue receiving disability benefits. The insured must be under the care of a licensed physician and not working at any gainful occupation.

If you engage in a new occupation during the 5 years following the beginning of your total disability, benefits under the insurance will continue provided your earnings from the new occupation do not exceed 75% of your average monthly income before your disability commenced.

Definition of Earned Income

If the insured is self-employed, or wholly or partially compensated by commissions, your earned income is the monthly average of your earned income as reported in the preceding years Federal Income Tax Return. Otherwise, the insureds earned income is the basic rate of monthly compensation.

This information contained in this website is only a partial description of the provisions of this insurance coverage. Once approved, you will receive a Certificate of Insurance as evidence of coverage provided under the Group Policy of 29066 (Policy Forms GMR). The Texas form numbers are GMR-FACE/G29066. It is important that you understand your coverage. Please read your Certificate thoroughly when it arrives and contact us with any questions.

We want you to get the coverage that's right for your insurance needs. That's why we give you a thirty day period to review your Certificate. If you return your Certificate without claim within thirty days, we will refund your full premium and the Certificate will be null and void, as if it were never issued.

The Association incurs certain administrative expenses in connection with this sponsored program. To provide and maintain this valuable membership benefit, it is reimbursed for such expenses.