Who is Eligible for Coverage?
If you select the Family Plan, you are automatically insured for 100% of the Additional Coverage you choose, your spouse or domestic partner is insured for 50% of your coverage (increases to 60% if no dependent children) and your dependent children are insured for 20% of your coverage (increases to 25% if no spouse or domestic partner). Basic Coverage is not applicable to dependents. Insured Person’s benefit amount is reduced by 50% at age 70.
You will receive a Description of Coverage after you enroll. This will be mailed to you within a short time of the effective date of your coverage. Your $3,000 of Basic Coverage, as well as any Additional Coverage you choose, will become effective on the first, regular billing date following acceptance of your Activation Form by the Plan Administrator; additional coverage is contingent upon receipt of your first month’s premium. To put your coverage in force, just complete the Activation Form. Your coverage cannot be cancelled as long as you are a member and the plan remains in effect. If you decide to discontinue your participation in the plan, your coverage will continue until the end of the period for which premiums have been paid. Coverage is renewable at the option of your financial institution.
This information is a brief description of the important features of this insurance plan. It is not an insurance contract. Insurance benefits are underwritten by Federal Insurance Company. Coverage may not be available in all states or certain terms may be different where required by state law. Chubb NA is the U.S.-based operating division of the Chubb Group of Companies, headed by Chubb Ltd. (NYSE:CB) Insurance products and services are provided by Chubb Insurance underwriting companies and not by the parent company itself.
|THIS INSURANCE PRODUCT IS|
|NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY||NOT A DEPOSIT|
|NOT FDIC-INSURED||NOT BANK GUARANTEED|