Life Insurance Benefits: Understanding 1199'S Comprehensive Coverage

Life insurance is an important aspect of financial planning, and the 1199SEIU Funds offer various life insurance benefits to its members. These benefits vary depending on factors such as the member's fund, wage class, and salary. For instance, the National Benefit Fund offers a maximum benefit of $50,000 after the first year, while the Home Care Benefit Fund provides a $20,000 life insurance benefit for home care workers. Eligibility and benefit amounts are also influenced by factors like years of service and annual earnings, as seen with the Greater New York Benefit Fund. With different categories of eligibility, members can receive varying maximum benefit amounts. This article will delve into the life insurance offerings of 1199SEIU Funds, exploring the eligibility criteria, benefit amounts, and any additional considerations for members to maximize their financial security through life insurance.

1199SEIU Home Care workers are eligible for a $20,000 life insurance benefit

Life insurance is important for you and your family's financial future. 1199SEIU Home Care workers are eligible for a $20,000 life insurance benefit through the Home Care Benefit Fund. This policy is payable to your designated beneficiary or beneficiaries, provided that you are working for an 1199SEIU Home Care agency and are covered by the Home Care Benefit Fund at the time of your death.

The amount of life insurance coverage you are eligible for is based on your Fund, Wage Class, and salary. For example, members of the National Benefit Fund are eligible for a maximum benefit of $50,000 after the first year, based on their Wage Class and annual rate of pay. Similarly, members of the Greater New York Benefit Fund can receive a benefit of up to $25,000 after their first year of service, depending on their years of service and annual earnings.

It is important to note that eligibility and benefits can vary depending on your specific situation. To find out more about your coverage, you can email [email protected] or call Member Services at (646) 473-9200. Additionally, you can refer to the Summary Plan Description for your Benefit Fund to understand the specific details of your coverage.

By taking advantage of this life insurance benefit, 1199SEIU Home Care workers can ensure financial protection for their loved ones in the event of their death. It is a valuable aspect of the comprehensive benefits package offered to these essential workers, providing them with peace of mind and financial security for their families.

Maximum benefit of $50,000 after the first year

Life insurance is an important aspect of financial planning, offering peace of mind and financial protection for loved ones in the event of an untimely death. The 1199SEIU Benefit Fund recognizes this and provides comprehensive life insurance benefits for its members, with varying maximum benefits depending on their specific fund and location.

For members of the National Benefit Fund, the life insurance benefit is based on the member's Wage Class and annual rate of pay. After the first year, members are eligible for a maximum benefit of $50,000. This is a significant increase from the first-year maximum of $1,250. It is important to note that this maximum benefit is specific to the National Benefit Fund and may differ from other funds offered by 1199SEIU.

The Greater New York Benefit Fund also provides life insurance benefits to its members. During the first year of service, the benefit is $2,000, and after the first year, the benefit is based on the member's years of service and annual earnings, with a maximum of $25,000. This maximum benefit is lower than that of the National Benefit Fund, reflecting the differences in funds.

Additionally, the Home Care Benefit Fund offers a life insurance benefit of $20,000 to 1199SEIU Home Care workers. This benefit is payable to the designated beneficiary or beneficiaries if the worker is employed by an 1199SEIU Home Care agency and covered by the Home Care Benefit Fund at the time of their death.

It is worth noting that life insurance benefits may vary based on location. For example, the maximum benefit for Rochester area members of the National Benefit Fund is $15,000 after the first year, with a first-year maximum of $1,250. This variation highlights the importance of members understanding their specific fund and its corresponding benefits.

To summarize, the 1199SEIU Benefit Fund offers valuable life insurance coverage to its members, with the National Benefit Fund providing a maximum benefit of $50,000 after the first year. This benefit can provide financial security and protection for members' loved ones, underscoring the importance of understanding and maximizing these benefits. Members are encouraged to refer to their Summary Plan Description for detailed information about their specific benefits.

Greater New York Benefit Fund Members get a $2,000 benefit in the first year

Life insurance is important for you and your family's financial future. 1199SEIU Funds offers life insurance benefits to its members. The Greater New York Benefit Fund Members get a $2,000 benefit in the first year. This is a great benefit for those who are just starting out and want to ensure their loved ones are taken care of in the event of their death.

The amount of the benefit increases after the first year, and is based on your years of service and annual earnings, up to a maximum of $25,000. This means that the longer you are a member, the more your life insurance benefit will be. This can provide peace of mind and financial security for you and your family.

It's important to note that eligibility for life insurance benefits is based on your Fund, Wage Class, and salary. There are different classes of eligibility that determine the maximum benefit amount. For example, Eligibility Class II has a maximum benefit of $2,500 in the first year, while Eligibility Class III has a maximum benefit of $1,250.

To find out more about your specific coverage, you can check the Summary Plan Description for your Benefit Fund or contact Member Services at (646) 473-9200. Additionally, 1199SEIU Home Care workers are eligible for a $20,000 life insurance benefit through the Home Care Benefit Fund. This benefit is payable to the designated beneficiary or beneficiaries in the event of the member's death while working for an 1199SEIU Home Care agency and being covered by the Home Care Benefit Fund.

1199SEIU retirees may be eligible for life insurance coverage

Life insurance is important for you and your family's financial future. 1199SEIU retirees may be eligible for life insurance coverage, but it depends on their Fund, Wage Class, and salary.

If you are a retired 1199SEIU member, you can call (646) 473-6730 to find out more about your life insurance coverage. You can also email [email protected] or call Member Services at (646) 473-9200.

For Rochester area members, after the first year, you are eligible for a maximum benefit of $15,000 based on your Wage Class and annual rate of pay. The first-year maximum is $1,250. After retirement, your life insurance amount is reduced by 20%. Then, every year after that, the original amount is further reduced by 20% until you reach the minimum life insurance amount of $1,250.

For members of the National Benefit Fund, after the first year, you are eligible for a maximum benefit of $50,000 based on your Wage Class and annual rate of pay. Similar to the Rochester area members' plan, the first-year maximum is $1,250, and after retirement, the amount is reduced by 20% until the minimum amount of $1,250 is reached.

Eligibility for 1199SEIU life insurance is based on your Fund, Wage Class and salary

Life insurance is important for you and your family's financial future. Eligibility for 1199SEIU life insurance is based on your Fund, Wage Class, and salary. There are several different funds that offer life insurance benefits, each with its own eligibility criteria and benefit amounts.

The National Benefit Fund offers life insurance benefits based on your Wage Class and annual rate of pay. After the first year of service, members are eligible for a maximum benefit of $50,000, while the first-year maximum is $1,250. For Rochester area members, the maximum benefit after the first year is $15,000.

The Greater New York Benefit Fund also provides life insurance benefits. During your first year of service, the benefit is $2,000, and after your first year, it is based on your years of service and annual earnings up to a maximum of $25,000. There are different eligibility classes within this fund, with varying maximum benefit amounts.

The Home Care Benefit Fund offers a $20,000 life insurance benefit to 1199SEIU Home Care workers. This policy is payable to the designated beneficiary or beneficiaries if the worker is employed by an 1199SEIU Home Care agency and covered by the Home Care Benefit Fund at the time of their death.

Additionally, retirees may also be eligible for life insurance coverage through the 1199SEIU National Benefit Fund, based on their age and years of service. To determine your specific eligibility and coverage, you can refer to the Summary Plan Description for your Benefit Fund or contact Member Services.

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