IEEE Sponsored Discounts FAQs

Q: What are IEEE-sponsored discount programs, also known as affinity group programs?
A: IEEE, like other professional associations, alumni groups or employers, is an affinity group, whose members may be eligible for specially negotiated pricing. IEEE members can recognize their affinity group discounts by the authorized use of IEEE’s masterbrand placed on the vendors’ advertising, mailings or Web sites. Licensed use of the IEEE masterbrand is not a product endorsement.
 

Q: What are the advantages of sponsored insurance plans for IEEE members?
A: In many cases IEEE members will find the rates for group insurance to be lower than rates for comparable products that they could buy individually. Group products may have other advantages over individual products. For example, premium credits based on the group’s plan performance can reduce members’ costs over time. Some types of insurance plans are permitted to discount their rates for members of association groups, according to government regulations. Often, a group insurance plan will have uniquely rich features, which add value compared to similarly priced, public plans. Some products offer the ease of enrollment without an underwriting process. Members should always comparison shop, to determine if an IEEE-sponsored insurance plan offers the best value for them.

Q: Why are some discounts only available in certain countries?
A: Vendors are usually interested in offering unique discounts to sizeable affinity groups. IEEE’s membership in the United States is approximately 200,000. As IEEE’s membership in various countries becomes more sizeable, we may have the opportunity to develop more national or regional discount programs.

Q: Shouldn’t IEEE be able to leverage the size and buying power of its aggregate, global membership to obtain a universal discount?
A: Companies that distribute products globally may not necessarily offer affinity group discounts in all markets. As IEEE identifies desirable member benefits and providers that have global distribution and discount capabilities, we will seek to add these benefits. Although insurance products usually are sold by country, IEEE offers two insurance programs, which collectively enable eligible members to apply for a life insurance product. As of August 2012, IEEE members in EMEA, Latin America and the Caribbean and Asia/Pacific are able to enroll in a term life insurance plan offered by Clements Worldwide. Members in the U.S. , Canada and Puerto Rico are able to apply for a variety of insurance plans offered by Marsh U.S. Consumer.

Q: Why does IEEE, a learned society, sponsor personal products and services?
A: IEEE members request discounts on insurance and personal products. Many indicate that these cost-saving benefits are important to their reasons for joining and retaining membership. Those members rely upon the personal benefits they can obtain through the IEEE, especially if they do not have employer benefits. In most cases, IEEE earns royalties from sponsored products which help to offset increases in member dues.

Q: How does IEEE determine what discounts to offer?
A: IEEE identifies the need for a discount in a variety of ways, including feedback from member surveys and recommendations of volunteer committees or the IEEE professional staff. At all times, IEEE seeks discounts that will add value to membership for a significant number of members who would utilize the benefit. IEEE conducts a thorough assessment process, to determine whether products should be added to our portfolio, and which providers should be selected.

Q: Who approves the IEEE-sponsored discount benefits?
A: An IEEE-sponsored benefit is defined as one for which IEEE has entered into a licensing agreement with a vendor, following a formal governance and legal review process. The Individual Benefits & Services Committee (IB&SC) has the authority to review and recommend benefits to the Member and Geographic Activities Board for approval. In addition, insurance products are reviewed by the IEEE Insurance Committee. Some contracts also may require approval by the IEEE Board of Directors.