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Manual of Benefits
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COMET MARKETS PART TIME EMPLOYEES |
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DEATH BENEFIT The amount of your Life Insurance as shown in the Schedule of Benefits will be paid to your beneficiary in the event of your death from any cause. Arrangements may be made to have the proceeds of the insurance paid in installments. BENEFICIARY You may name anyone you desire as your beneficiary and you may change your beneficiary at any time, by proper notification to the Welfare Fund Administrator and /or the Insurance Carrier. WAIVER OF PREMIUM BENEFIT If you become totally and permanently disabled while insured and before your 60th birthday, your life insurance will be continued in accordance with the Schedule of Benefits without further cost as long as you remain so disabled, provided proofs of disability are furnished as required. The first proof should be filed with the insurance company. Subsequent proofs of disability must be furnished each year. CONVERSION PRIVILEGE If your Life Insurance terminates because you leave the employ of one of the participating employers you may exchange your Group Life Insurance for an individual policy in accordance with the “Conversion Privilege” described in your certificate. All you have to do is apply directly to The Life Insurance Company within 31 days after your insurance terminates and pay the premium for your then attained age. No medical examination will be required. |