Term Life Insurance and Accidental Death and Dismemberment (AD&D) is provided for you by the Fund through Symetra Life Insurance Company.
This benefit is only available to you if you meet the eligibility requirements previously described and are not on leave of absence at the time of your death. Your dependents are not eligible for this coverage. You are also not eligible if the City of New York is no longer paying the Fund for your benefits.
WHAT YOUR LIFE INSURANCE BENEFIT IS
If you die from any cause while you are insured, your designated beneficiary(s) will receive $20,000. You may name any person or persons as your beneficiary(s) at any time by filling out the proper form available from the Fund Office.
TERMINATION AND CONVERSION
Your life insurance coverage ends as described previously.
If your life insurance coverage ends, you may convert it to an individual policy within 31 days, without having to furnish proof of good health.
AD&D
Accidental death and dismemberment coverage is provided by the Fund through Standard Life Insurance Co. Your dependents are not eligible for this coverage.
WHAT YOUR AD&D BENEFIT IS
If you suffer a bodily injury or loss of life due to an accident, while insured, you may be entitled to receive up to $20,000 or a part thereof. For a complete explanation and terms of this benefit please see the summary provided by The Standard Life Insurance Co. No more than the full amount will ever be paid for all losses due to any one accident.
No death benefit will be paid for deaths caused by intentional self-destruction, over consumption of alcohol or illegal narcotics.
Click here for more information.
TERMINATION AND CONVERSION
Your AD&D coverage ends as described previously. This coverage cannot be converted to an individual policy.
The death benefits described above will be paid to the beneficiary you named on the Fund enrollment card that is filed with the Fund Office. You may change your beneficiary at any time by filling a change of beneficiary card with the Fund Office. No beneficiary designation will be effective until it is filed with the Fund Office.
If your named beneficiary dies before you, or you have not named a beneficiary, your death benefit will be paid as follows:
- To your spouse, or if your spouse is not living,
- To your children in equal shares, or if none of your children survive you,
- To your surviving parent(s) in equal shares,
- Then finally to your estate.
Your death benefits terminate when you leave covered employment.
For complete coverage information, please download the complete Benefits Plan handbook Here >>
