Voluntary Benefits for CSA Members

“Living Benefits” are additional coverages, which are included in the affordable, weekly premium of the GISLI program. They are designed to protect you (and your assets) from multiple health-related risks.
 
Like every other part of the Guaranteed Interest Sensitive Life Insurance, the “Living Benefits” are also offered on a Guaranteed Acceptance Basis.
 
Chronic Condition Benefit – allows members, who qualify, to withdraw 4% of the death benefit for up to 25 months to pay for Long Term Care expenses in a facility or at home, based on their inability to perform two activities of daily living or due to severe cognitive impairment for a period of 90 days and under the continued care of a medical professional (benefits paid retroactive to the first day). (Example: $150,000 of life insurance would provide $6,000 per month for 25 months of Chronic Condition Benefits.)
 
Critical Care Benefit - with lump sum payments of up to 25% of the death benefit (or $100,000, whichever is less) upon diagnosis of heart attack, life threatening cancer, major organ transplant, renal failure, or stroke. (Example: $150,000 of life insurance would provide $37,500 of Critical Care Benefits for members.)
 
Total Disability Waiver of Premium Benefit - available to age 55, waiver of insurance cost is retroactive if a member is totally disabled for 6 months or more. As a result coverage remains in effect and cash accumulation values continue to increase.
 
Terminal Illness Benefit - allows the partial withdrawal of up to 75% of the death benefits for terminal illness with a maximum of $150,000. (Example: $150,000 of life insurance would provide $112,500 of Terminal Illness Benefits.)
 
Guaranteed Future Increase Option – provides members with the ability to increase coverage on a Guaranteed Acceptance basis each year for 10 years beginning with the first anniversary date. Members who are age 65 or younger, and not disabled or on claim under any waiver rider, can opt for increases in coverage which can be obtained by a premium of $1-$5 weekly. The Living Benefits for Chronic Condition for Long Term Care expenses, Critical Care, and Terminal Illness are increased proportionately when the Guaranteed Future Increase option is activated. Total face amount of all increases plus the initial face amount purchased cannot exceed the Guaranteed Acceptance Maximum of $200,000.
 
Children’s Insurance – all children of the marriage and adopted children are covered for $10,000 of term insurance face amount until age 25.  At age 25, they can convert this coverage from $10,000 up to $50,000 or 5 times the original amount.