The Trust is diligent about monitoring our claims experience. The Board of Trustees made the decision to return excess life insurance reserves to members. We are pleased to announce that we are providing a premium credit for all existing employers purchasing
the following products from Standard for the months of October, November, and December 2021:
- Basic life
- Accidental death & dismemberment (AD&D)
- Dependent life
How it works
You will pay for basic life, AD&D, and dependent life insurance each month as usual, and receive a credit the next month for the amount paid.
Billing month | Pay as billed for | Get a credit for
|
|---|
October | Basic life, AD&D, dependent life | None |
November | Basic life, AD&D, dependent life | October premiums paid |
December | Basic life, AD&D, dependent life | November premiums paid |
January | Basic life, AD&D, dependent life | December premiums paid |
Additional/Supplemental life insurance
Employers will not receive a credit for any additional/supplemental life insurance purchased for employees or their covered spouse/domestic partner.
New employees
Any new employees added onto existing basic life, AD&D, or dependent life insurance will also be included in the credit provided during the premium holiday.
Questions?
Contact Trust staff at benefitinfo@awcnet.org.
The below changes to Standard Insurance are effective January 1, 2022
Age reduction schedule removed
To provide an increased benefit to members, the age reduction schedule is being removed, meaning that covered individuals over the age of 65 will no longer have reduced life, AD&D or additional
life coverage. Premiums will increase according to coverage that is in place.
Life insurance enhancements and special open enrollment
Find out more about additional life insurance enhancements, and the details for a special open enrollment for additional life insurance.