|
Home
- NBA Life Program
NBA Life ProgramNBA
Life Insurance Benefits
$5,000 of Life insurance for you (the member),
$2,500 for your spouse & $1,250 for each child is automatically included with
your NBA membership. This means that if you die while you are a member in good
standing of the NBA program, your beneficiary(s) will receive $5,000. You are
automatically the beneficiary for your spouse and child(ren). Enrollment
You provide your beneficiary information at the time of enrollment in the NBA
program. You will also need to complete the "Actively at Life" section.
This form will be included in your enrollment packet. Standard
Provisions
The amount of Life insurance is reduced to 65% of the original
amount at age 65, to 45% of the original amount at age 70, to 30% of the original
amount at age 75, to 20% of the original amount at age 80. The
insurance will terminate on the earliest of: ·
The last day of the month in which your membership terminates, or
·
On the date on which the group policy is no longer in force, or
·
The day before you enter active full-time service in any naval, military, or airforce,
or
· On the date on which you request, in writing, to have your insurance
terminated. Conversion Provision
Upon termination of your insurance, you have the right to have your carrier issue
to you an individual insurance policy without submitting evidence of insurability
at your carrier's customary premium rates. You must make a written application
to your carrier and the first premium due for the policy must be received at its
Head Office within 30 days. This summary provides a
brief description of coverage. For complete details, please request a copy of
the benefit booklet. | 
