Program Overview
This plan offers members $1,500 Accidental Death & Dismemberment insurance (AD&D) at no cost to them. This complimentary coverage is available to all eligible account holders age 18 or older. The $1,500) benefit reduces to $750 at age 70 or older.) The Credit Union will pay the premiums for this coverage as long as the member maintains their account with us and for as long as the Credit Union participants.
In addition to the $1,500 no-cost offer, members are eligible to purchase from $10,000 to $250,000 of additional AD&D coverage at low group rates. Family coverage is also available which pays a percentage of the additional coverage amount to the spouse and dependent children of the insured. |
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How the Member Becomes Insured
There are no medical exams or lengthy health questionnaires to qualify for this insurance. In order to activate this insurance coverage, the member must simply complete the enrollment form included in their package and send it to the Plan Administrator before the deadline indicated. Once enrolled, members will receive a personalized Certificate of Insurance in the mail.
How Premiums Are Paid
Again, there is no cost to the insured for the first $1,500 of coverage. If additional coverage is selected, the premiums will be automatically collected as follows:
- Share account holders ? the premiums will be electronically debited from the share account quarterly
- Share draft account holders ? the premiums will be electronically debited from the share draft account quarterly
The premium amount and told-free number for service and inquiries will be shown on members? statements.
Program Highlights
- Guaranteed coverage; no medical exam or health questionnaires required
- Affordable group rates
- Additional coverage includes special benefits such as common carrier insurance
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Accidental Death