Disability insurance benefit provided to new members at no cost
The Committee on Group Insurance recently announced a “no-cost” new member Disability Insurance benefit effective June 1, 2010 for new U.S. members under age 50 who have graduated from school. Terry Hollrah, Chair of the Committee, called the new benefit “a tangible and very personal enhancement to SEG membership.”
There is no cost to the new member or SEG for this benefit for the initial six months of coverage. This is very similar to the “no cost” $30,000 Group Term Life Insurance benefit which has been provided to new members for many years. Hollrah said that SEG is now one of the very few national professional societies that provide new members with two valuable types of coverage —Term Life and Disability Income Insurance.
The new member Disability Income benefit provides $600 of monthly protection for up to two years beginning on the 61st day of total disability. Coverage is guaranteed issue with no exclusion for pre-existing conditions. Benefits can be increased, subject to customary underwriting requirements.
New members can renew both the Term Life and Disability Income Plans as long as they retain their membership and pay the renewal premiums, which are payable after the “no-cost” coverage periods expire. These insurance benefits can be valuable because they are personally portable throughout a member’s professional career, regardless of employer changes.
For more information members may call SEG’s GeoCare Customer Service Department toll-free at 1-800-337-3140 or e-mail email@example.com.