AFBS provides you with Group Term Life and Accidental Death and Dismemberment (AD&D) Insurance. This is term insurance and is only in place while you are insured through this program. There is no paid-up or cash surrender value associated with this coverage. This benefit is only for the Member - dependants are not covered for this benefit.
Access to coverage and the amount of coverage is based on your age as indicated in the table below.
|Group Term Life||AD&D||Group Term Life||AD&D|
|Age at Renewal|
|Under age 65||$10,000||$10,000||$10,000||$20,000|
|Ages 65 to 69||$5,000||$5,000||$5,000||$10,000|
|Ages 70 to 75||$5,000||Not covered||$5,000||Not covered|
You may designate a beneficiary for your Group Term Life Insurance and AD&D Insurance. By designating a beneficiary you ensure that the distribution of your estate goes to the people you want. The Beneficiary Designation/Change Form should be completed when you elect a beneficiary or if you wish to change your beneficiary designation.
If you do not name a beneficiary, payment of any death benefits will be made to your estate.Back to top
When you are under age 65 and if are no longer eligible to participate or if you choose to terminate your benefits under this program you have the option to convert your Group Term Life Insurance to an individual policy without providing evidence of medical insurability. A written request, which includes payment of premium, must be received by AFBS within 30 days of the termination of your benefits under this program.Back to top
AD&D Insurance provides payment for losses resulting from accidental bodily injury and caused by violent and external means as follows:
|For Loss of:||Percentage of Coverage Amount|
|For Total and Irrevocable Loss of Use of:|
|Both hands at or above the wrist||100%|
|Both feet at or above the ankle||100%|
|One hand at or above the wrist and one foot at or above the ankle||100%|
|Entire sight of both eyes||100%|
|One hand at or above the wrist and the entire sight of one eye||100%|
|One foot at or above the ankle and the entire sight of one eye||100%|
|One arm at or above the elbow||75%|
|One leg at or above the knee||75%|
|Either hand at or above the wrist||66 2/3%|
|Either foot at or above the ankle||66 2/3%|
|Sight of either eye||66 2/3%|
|Thumb and any finger or any two fingers of either hand at or above the metacarpophalangeal joints||33 1/3%|
|Hearing in both ears||100%|
|Hearing in one ear||50%|
Benefits for loss of use will be paid if the loss is permanent, total and irrevocable and continuous for 12 months.
If you suffer more than one loss in the same accident, AFBS will pay the largest single benefit for which you are eligible.Back to top