DAN Group Term Life Insurance for Divers
Provisions of Coverage and Premium Rates
This is a special Group Term Life Insurance Plan for DAN Members and their spouses. "Pure" insurance such as this is the type most recommended by financial experts. It offers the best value for your money -- most especially when available at DAN's group rates.
This DAN Plan is ideal for those who wish to enjoy greater flexibility in their financial planning. You can buy a smaller amount to update existing coverage; or a larger amount to serve as your complete insurance protection.
Insurance Protection you can trust -- for the family you love.
Life Insurance should be the foundation of every family's financial security. If a parent dies, a large sum of money is often needed to help replace lost income, repay debts and restore the family's goals of home ownership, college education and retirement.
Financial experts recommend term life insurance because you get insurance, with no costly savings element added. This exclusive plan is underwritten by The United States Life Insurance Company in the City of New York, a name you can trust.
DAN Members, in good standing, between the ages of 18 to 64 are eligible to apply. You may also insure your lawful spouse under age 65. Members must be able to perform the normal activities (as defined by the policy) of a person of like age and sex, with like occupation or retired status on the date insurance is to take effect. If not, the insurance will take effect on the date the member resumes such activities. Your dependent spouse, if applying, must not be hospitalized on the date their insurance is to take effect. If hospitalized, the insurance will take effect on the next business day after discharge. Acceptance into this plan may be subject to evidence of insurability as determined by the insurance company.
DAN Members and their spouses may each choose a benefit amount of $30,000-$200,000. The amounts need not be the same. On date you or your spouse, if applying, attains age 65, your amount of life insurance will be reduced by 50%.
You can renew your coverage to age 70 regardless of your health, as long as the Master Policy remains in force, insurance does not end for your class, you remain a member of DAN, and premiums are paid when due. Coverage for your dependent spouse will remain in effect until your insurance ends under the group policy, the group policy is changed to end dependents' life insurance, the spouse ceases to be a dependent or premium is not paid for the spouse when due. You can never be singled out for cancellation; you may cancel your coverage at any time.
BENEFIT INCREASE for RECREATIONAL DIVES
If an insured member dies within 180 days as a result of injury caused by an accident that occurs while performing a recreational dive, DAN will pay an additional benefit equal to 10 percent of the member's life insurance amount in effect on the date of the accident, up to a maximum of $25,000. A Recreational Dive is a dive to a depth of less than 130 feet, which is not a commercial dive or performed for wage or profit. A Recreational Dive begins upon entry into the water and ends upon exit from the water.
After 180 consecutive days of being covered under the group policy, if an insured member is diagnosed with a terminal illness from which the person is not expected to recover that will result in death in six months or less, a sum of up to 60 percent of the total benefit less the discount is available prior to death. This money can be used for any purpose, such as paying medical bills, or making the most of the precious months that remain. The remainder of your total benefit will then be paid to your beneficiary when death occurs, provided premiums continue to be paid.
Accelerated death benefits are not payable if the member has made an absolute assignment of his life insurance under the group policy, all or part of the member's life insurance under the group is to be paid to his child(ren) or former spouse as part of a court approved divorce agreement, the insurance company does not receive written consent by any irrevocable beneficiary or the terminal illness is a result of intentional self inflicted injury or attempted suicide. Receipt of Accelerated death benefits may be taxable. Consult your personal tax advisor for specific details.
In the event of suicide during the first two years the Plan is in force, benefits are limited to a full return of premiums paid, plus interest. If a person's age, sex or any other data is misstated, the correct data will be used to determine if insurance is in force. If insurance is in force, the premium and/or benefits will be adjusted according to the facts. Policy benefits are not assignable.
SPECIAL GROUP RATES
The rates below are based on the age of the insured individual at the time coverage is issued. Rates increase as you enter each five-year age band. You can never be singled out for a rate increase.
You can examine this insurance risk-free. If, within 30 days of receiving your Certificate of Insurance, you are not completely satisfied, simply write "cancel" on the certificate and mail it back. Any premiums you have paid will be promptly refunded in full or credited to your account, and your certificate will be void from the beginning of the coverage period.
View this plan's Premium Schedule
MIB DISCLOSURE NOTICE
Information regarding your insurability will be treated as confidential. The United States Life Insurance Company in the City of New York or its reinsurers may, however, make a brief report thereon to the MIB, Inc., formerly known as Medical Information Bureau, a not-for-profit membership organization of insurance companies, which operates an information exchange on behalf of its members. If you apply to another MIB member company for life or health insurance coverage, or a claim for benefits is submitted to such a company, MIB, upon request, will supply such company with the information about you in its file. Upon receipt of a request from you, MIB will arrange disclosure of any information in your file. Please contact MIB at 866 692-6901 (TTY 866 346-3642). If you question the accuracy of the information in MIBís file, you may contact MIB and seek a correction in accordance with the procedures set forth in the federal Fair Credit Reporting Act. The address of MIBís information office is 50 Braintree Hill Park, Suite 400, Braintree, Massachusetts 02184-8734. The United States Life Insurance Company in the City of New York, or its reinsurers, may also release information from its file to other insurance companies to whom you may apply for life or health insurance, or to whom a claim for benefits may be submitted. Information for consumers about MIB may be obtained on its website at www.mib.com.
Note: Canadian Members should continue to use the following address: 330 University Avenue, Suite 501, Toronto, Ontario, Canada, M5G 1R7, tel. no. 416-597-0590.
NOTICE AS REQUIRED UNDER THE FAIR CREDIT REPORTING ACT(S)
This is to inform you that as part of our procedure for processing your insurance application, an investigative consumer report may be requested for the preparation of a report whereby information is obtained through personal interviews with your neighbors, friends, or others with whom you are acquainted or who may have knowledge of any such items of information. This inquiry includes information as to your character, general reputation, personal characteristics, and mode of living. You have the right to make a written request to be informed as to whether or not such consumer report was requested, and if such report was requested, the name and address of the consumer reporting agency to whom the request was made. You may receive a copy of this report by contacting such agency.
Protecting DAN Members with high-quality, economical life insurance for DAN Members
In this summary, we have attempted to explain clearly and briefly the benefits available to you under this Plan as a DAN Member. All the provisions of the Plan are contained in the Master Policy. Since the Master Policy is complete in detail, the final interpretation of any specific provision or claim is governed by it.
For more information, please call 1-800-446-2671.