Page 17 - 2013 Adv1FCU Health and Welfare SPD
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Your Life and Accidental Death & Dismemberment (“AD&D”) Coverage
The following Benefit Programs are fully insured and administered by the Insurer(s) listed in
Appendix A:
Group Term Life Insurance
Voluntary Life Insurance (supplemental and/or dependent life)
AD&D Insurance
Participation
You must meet all eligibility requirements for coverage in order to become a participant.
Enrollment in basic coverage is automatic. Any voluntary options available to you and the
associated costs are described in the materials provided by the Insurer. Each year during the
annual open enrollment period, you will be given an opportunity to elect or change your
voluntary coverage, or confirm that your existing coverage is to be maintained for the following
year.
Benefits Provided
The benefits and amounts of coverage provided under each Benefit Program are more fully
described in the materials provided to you by the Insurer. Life insurance benefits are paid in the
event of the death of a covered participant. AD&D benefits are paid if a covered participant
becomes dismembered or seriously injured as the result of a covered accident. You will need to
designate a beneficiary to receive benefits in the event of your death.
Source of Payment
Group Term Life Insurance and AD&D benefits are paid by the Insurer and are guaranteed
under the applicable insurance contracts. The Company pays the full cost of your basic
coverage. You are not required to make any contributions. The amounts of voluntary coverage
available and, if applicable, any premiums for coverage will be shown on your Election Form
when you enroll and will automatically be deducted from your pay.
Plan Limitations and Exclusions
You should refer to the materials provided by the Insurer for information concerning any
limitations, waiting periods before coverage begins, maximum benefits payable, when coverage
ends, exclusions, age reductions, or reductions for other benefits that may apply.
Coverage Continuation
If your Group Term Life Insurance coverage ends for any reason other than death, you may
have a right to continue your insurance under an individual policy. You should consult your
Certificate of Insurance for additional information about continuing your coverage as there may
be time limits for making this decision once your coverage under the Plan ends.
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