Who is Eligible for Coverage?
If you select the family plan option, your spouse/domestic partner is insured for 40% of your benefit (increases to 50% if no dependent children). Your dependent children are insured for 10% of your coverage (increases to 20% if no spouse/domestic partner). The benefit amount for accidental loss of limb, sight, speech, hearing and paralysis is a percentage of the Principal Sum.
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. The 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, sign and submit 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.