North America Masaba Cultural Association
1. Why is NAMCA adopting a group life insurance plan?
Guaranteed Issue Group Life insurance helps build stronger communities. The Insurance Plan covers all members, including those without perfect health or finances. It guarantees cash in event of death. This eliminates the need for traditional burial fundraisings.
2. Who is the Insurance Company?
The Hartford® is the Financial Services Group, Inc. and its subsidiaries, including issuing company [Hartford Life Insurance Company] [Hartford Life and Accident Insurance Company].
3. When are claims paid?
4. What benefit is level?
5. Why is the benefit level 50% of the long-term plan design during the first year? This policy design allows the plan to be written without members having to fill out health questionnaires. All active members are insured on a guaranteed issue basis without the requirement of medical underwriting. The plan design safeguards the long-term rate stability for all insured .
6. Why are there benefit level reductions at age 65 and age 70?
The benefit level reductions at age 65 and 70 keep the rates affordable. Members over age 65 are able to have some coverage. Members who reach age 65 and 70 do receive premium reductions that correspond to their benefit level changes. This policy design is in contrast to employer provided insurance, where employee group life benefits can terminate immediately and completely at retirement.
7. How are premiums paid?
NAMCA will receive common billing for all members. Premiums will be paid annually.
8. Can membership be canceled at any time?
Membership can be cancelled however insurance coverage will only elapse after the annual date for which membership was paid.
9. Will claims by our group increase our premium rate or result in termination of coverage?
Premium rates will not be selectively increased, nor will your group plan be terminated because of one or even multiple claims.
10. Would it make sense to purchase individual policies instead of group insurance?
There are significant problems in trying to fit individual insurance to a group. Everyone in the group would need to be medically approved by completing health questionnaires. The members most in need coverage, due to age and/or poor health, would most certainly be declined.
11. Do members need to qualify for the insurance by answering health questions?
There are no health questions for members who apply for the coverage when it is first offered to them.
12. Can our children be insured?
There is an optional children’s rider that covers all eligible children in the family with $7.5 per child annually. Unmarried dependent children of Eligible Members, who are U.S. residents, possess a Social Security number, and who are at least 14 days but under age 21, or 23 if a full-time student, are eligible for coverage.
13. Can my child be my beneficiary?
Yes; however, if the child is a minor, most states require that the proceeds of a death claim be placed in an interest bearing trust account until the child reaches age 18.
14. Can a member who belongs to multiple associations have insurance coverage through The Hartford with more than one of those associations?
Members can be insured with only one association through group life plans underwritten by The Hartford. Allowing members to carry coverage with more than one group could adversely affect the rate structure for all groups. If members with serious health problems were to apply for coverage with more than one group, the result could be unusually high claims experience.
15. Can a member decline coverage and then apply for insurance later?
A member that declines coverage can apply at the next policy anniversary. That member will be required to complete a health questionnaire in order to be approved for coverage by The Hartford.
16. What is the Travel Assist plan and will our group be billed extra for these benefits?
Travel Assist Benefits provided by Europ Assistance Service USA are included automatically with your group life plan at no additional cost. The plan covers a host of services from pre-trip planning to emergency medical evacuations. Each member will receive an ID card with an 800 phone number to easily access the services from anywhere in the world.
17. How does our group get the Insurance Plan started?
A complete census of active members requesting insurance coverage and the first premium are the key elements. (Beneficiary forms can be completed after the policy is issued. The proceeds would be paid to the closest relative according to a line of succession stated in the policy if a member should die before designating a beneficiary).