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Life insurance and
accidental death
and dismemberment insurance (AD&D) are other benefits
provided by your health & welfare coverage. If you are
not eligible for health benefits you are not eligible for the
life and the AD&D insurance benefits. In addition, the
life insurance and the AD& D insurance apply only to active
participants, it does not cover dependents, retirees, or COBRA self-pays.
Life Insurance
Should you pass
away during a month in which you were an active participant
and eligible for health benefits, your
beneficiary will receive a
life insurance benefit. The benefits may be paid out as
a lump sum or in monthly installments.
Life insurance
benefits are as follows:
|
Plan |
Life Insurance |
AD&D Principal Sum |
|
Plan 500 |
$5,000 |
$5,000 |
|
Plan 901 |
$50,000 |
$50,000 |
|
Plan 902 |
$20,000 |
$10,000 |
|
Plan 903 |
$5,000 |
$5,000 |
If you are unsure which plan you
are enrolled in, please call the Administrative Office. For
complete details on the life insurance benefit, see the
Insurance Benefits section of the
Summary
Plan Description.
If your
coverage terminates, you may convert your life insurance to an
individual policy. Your life insurance may also continue
if you become totally disabled prior to the age sixty while an
active participant. Please contact the Pension
Department at the Administrative Office for details.
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Accidental
Death & Dismemberment
Should you die as a
result of an accident during a month in which you were an
active participant and eligible for health benefits, your
beneficiary will receive an
accidental death insurance benefit. Accidental death
benefits range from $5,000 to $50,000 depending upon the plan
in which you are enrolled.
You will receive
dismemberment insurance benefits if, as the result of an
accident, you suffer the loss of one or both eyes, a
hand, or a foot. Accidental dismemberment benefits range
from $2,500 to $50,000 depending upon the plan in which you
are enrolled and the extent of your injuries. For
complete details on the accidental death and dismemberment
insurance benefit, see the Insurance Benefits section of the
Summary Plan Description.
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Designating
Beneficiary(ies)
Beneficiary(ies)
may be designated on your
plan
enrollment form. Your beneficiary designation should
be kept up to date to be certain that benefits will be paid in
accordance with your wishes. If you do not name a
beneficiary on your Health & Welfare enrollment form, or if
your named beneficiary does not survive you, the benefits will
be paid in the following order: to your surviving spouse,
children, mother, father, the beneficiaries named in your last
will and testament if the will is admitted into probate within
90 days of the date of death.
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