Common Questions - Life Insurance
| 1. | How do I find out who my beneficiary is? |
| 2. | How much will my beneficiary inherit if I pass away? |
| 3. | Can I cash out any portion of my life insurance policy? |
| 1 | How do I find out who my beneficiary is? |
To confirm your named beneficiary, contact an ASEBP Benefit Specialist. For more information about naming a beneficiary, see the Naming a Beneficiary section of the Life Insurance Benefit Guide. |
|
| 2 | How much will my beneficiary inherit if I pass away? |
The Life Insurance payment depends on your annual salary at the time of your death. Refer to the Plan Descriptions section of the Life Insurance Benefit Guide for details about your Life Insurance benefit. |
|
| 3 | Can I cash out any portion of my life insurance policy? |
No. Your group Life Insurance is term insurance and is only in force while you are an employee of a participating employer. Term insurance has no cash value. It cannot be used as security for a loan, and there is no option to receive monies after termination of coverage. For more information about your Life Insurance Benefit, please read the Life Insurance Benefit Guide. |