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CHILD LIFE INSURANCE
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Child Life Insurance provides coverage in case of your dependent child
or children's death. My Choice offers the following coverage.
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Coverage |
| Option 1 |
No Coverage |
| Option 2 |
$5,000 |
| Option 3 |
$10,000 |
| Option 4 |
$20,000 |
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| Making Choices: |
First decide if you want Child Life Insurance coverage.
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| Tax Facts: |
When Flex Dollars are
used to pay for all or any part of Child Life Insurance it is
considered a taxable benefit. If you use payroll deduction to
pay for your Child Life Insurance you are using after-tax dollars
and saving your Flex Dollar Allowance to buy other non-taxable
benefits. |
| Coverage Level: |
Choose the coverage
level from the drop down box by selection Option 1, 2, 3 or 4.
Payment
Method: Flex Dollars, payroll deduction or combination.Beneficiary
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CHILD LIFE INSURANCE DETAILS
The following is a further description of some of the specific elements
of your Child Life Insurance plan.
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| Beneficiary |
- You may change your beneficiary at any time by written notice to your Employer, subject to any policy or legal limitations.
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Waiver of Premium |
- If you become
eligible for Waiver of Premium under the Life Insurance benefit
your premium for Child Life insurance will also be waived. The
amount of Child Life insurance for which premiums will be waived
will be the amount in force on your date of disability.
- Waiver of
premium terminates at age 65 or earlier retirement.
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Evidence of Insurability |
- This is not
required for this benefit.
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Termination of Benefit |
- The date
you attain age 65 or earlier retirement, or the child attains
the limiting age for coverage as explained in Definition of Terms,
whichever is earlier.
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