What is basic life insurance

what is basic life insurance

If your employment ends, you may port or convert your coverage. See your booklet-certificate for details.

This coverage provides an additional benefit that could double your normal basic life benefit, up to a combined maximum of $300,000. Accidental death coverage varies by Union and unit. See your booklet-certificate from Prudential for details.

Occupational-Only Accidental Death

OCSEA, SCOPE/OEA, FOP/OLC unit 48, CWA

If you sustain an injury while on the job and die within 365 days as a result of the injury, your combined basic life and accidental death benefit is double your Basic Annual Earnings up to the maximum.

24-Hour Accidental Death and Dismemberment

District 1199/SEIU, OSTA, FOP/OLC unit 2 and 46

If you sustain an injury and die within 365 days as a result of the injury, your combined basic life and accidental death benefit is double your Basic Annual Earnings up to the maximum.

Accelerated Death Benefit

If you.

  • have been diagnosed with a terminal illness and

  • have less than 12 months to live, according to the diagnosis,

    this benefit allows you to take a cash advance of a portion of your total life insurance benefit. You may request up to 50% of the basic life policy amount, up to the $75,000 cap. When combined with supplemental life insurance, your total accelerated death benefit

    may not exceed $150,000.

    Portability means that if you and your family are covered under the term life insurance programs when you leave state employment, you may keep your insurance. Your rates will change; however, the coverage will be term life insurance at term life rates. In most cases they will be much less than the conversion rates. The amount that may be ported is one times your salary. For additional information refer to your plan booklets available at www.benefitstrust.org or contact Prudential at 800 778 3827 or click here.

    You can convert your Basic Life insurance coverage to an individual whole life insurance contract if you pay the first premium to Prudential within 45 days after your coverage ends. To convert your coverage, contact Prudential.

    Limits & Exclusions

    See your plan booklet ; for the final authority, your booklet-certificate from Prudential.

    To Collect Benefits

    Benefits are paid to your designated beneficiary in the event of your death. You may name or change your beneficiary at any time by completing a Beneficiary form and mailing it to Prudential. Your change is not effective until the plan receives your documentation.

    If you don't name a beneficiary or none of your beneficiaries survives you, equal payment is made to the first of the following: spouse, children, parents, brothers and sisters, your estate.

    ATTN: Life Claims Supervisor

    Source: www.benefitstrust.org

    Category: Insurance

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