Index

About Life Insurance

Eligibility and Enrollment

Basic Life Coverage

Basic Accidental Death and Dismemberment Insurance

Group Universal Life Insurance

Voluntary Accidental Death and Dismemberment Insurance

Retiree Coverage

Administrative and ERISA Information

Key Terms

Choosing a Beneficiary

Q. Who will receive benefits when I die?

A. Your beneficiary or beneficiaries receive your plan benefits.

Standard Beneficiaries

This Plan has a standard list of beneficiaries. If you have not named a beneficiary and you die while you are a plan participant, your benefits are paid according to the Plan's standard designation which pays to the first of the following who survive you:

• Your spouse.
• Your children and the children of a child who died before you.
• Your parents.
• Your brothers, sisters and the children of a brother or sister who died before you.
• The executors or administrators of your estate.

For purposes of the Plan's standard beneficiary designation, your child, parent, brother or sister includes only someone who is your legitimate blood relative or whose relationship with you is established by virtue of legal adoption. For details, see Standard Beneficiary in the Key Terms section.

Naming a Beneficiary

If the standard beneficiary list does not meet your needs, you may name a beneficiary to receive your plan benefits.

You may change your beneficiary at any time. To name a different beneficiary, use EDA available on the ExxonMobil Me HR Intranet site. Enrollment forms are also available from Benefits Administration for those individuals who do not have access to EDA.

You may name multiple beneficiaries. If you name more than one beneficiary, be sure to designate what portion of the entire benefit should be paid to each. You also need to indicate the beneficiaries' relationship to you. If you fail to designate a portion when you name multiple beneficiaries, the Plan pays benefits in equal shares to the designated beneficiaries.

If your named beneficiaries die before you, the benefit will be paid to the executors or administrators of your estate.

Assigning Life Insurance (Basic Life Insurance and Group Universal Life Insurance)

You can make a gift of your life insurance to one or more people or to an organization. If you do, the person or organization who receives the gift — the assignee — becomes the owner of your insurance. As owner, the person or organization has the right to change the beneficiary designation and to continue all or part of the insurance if your insurance ends or is reduced.

For Group Universal Life Insurance, the assignee may be billed for the cost of the insurance.

The assignment of your insurance is irrevocable, unless the assignee reassigns it to you. You cannot regain control of the insurance without your assignee's agreement. This raises many important personal and legal issues and it has tax implications.

If you are considering assigning your insurance, you should first consult with your attorney or other tax advisor.

To learn more information about assigning your insurance or to request the forms you need to complete an assignment, contact Benefits Administration. You cannot assign any uninsured death benefit.