In the coming days, members who purchased additional Fat Cat and Zard Supplemental Group Term Life Insurance coverage will receive a letter in the mail about annual premiums, which are due May 1, 2015.
Last year the Credit Union introduced $1,000 of term life insurance coverage for Fat Cat and Zard accountholders at no cost to the member. Policyholders who opted to get an additional $9,000 in coverage will be charged $18 for the annual premium. Funds will be automatically deducted from the account indicated on your enrollment form.
If the account you set up for withdrawal of the premium has insufficient funds to cover this cost on the due date, a second attempt to withdraw the premium will occur May 8. If the premium payment is not received by June 1, 2015, supplemental coverage will lapse and can no longer be obtained by the member.
Visit your local branch before April 24, if you would like to modify the account or cancel coverage.
More questions? Call the Contact Center toll free at 888.732.8562.