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Traditional life insurance is paid out after death certificates are provided and significant paper work is completed. This does not allow for an immediate source of funds for whomever is handling the continuing affairs of the deceased. The Fund was created to provide funds in as little as 24 business hours, without the need for a death certificate to be provided. This allows initial funeral costs to be paid, bills to continue to be paid, etc. while waiting for the remaining policies to pay out. As such, the intent for the Fund is for it to be available to whomever would be handling your affairs immediately after you pass.

The purpose of the Fund is to provide your beneficiary with immediate financial assistance to cover expenses while traditional life insurance policies are processed. This is why we endeavor to provide funds in as little as one business day. Legally, checks cannot be issued directly to juveniles and therefore, the funds would get tied up while legal matters are settled, defeating the intended purpose of the Fund. Ideally, your beneficiary should be whomever is expected to be handling your day-to-day affairs immediately after your passing who would need access to funds to accomplish those tasks, which may include providing for the everyday needs of your juvenile children. To meet the mission of the Fund, beneficiaries must be an adult so the funds can be delivered and available as intended.

Yes, in certain circumstances. Funds can be issued to foreign beneficiaries outside the U.S. provided they are not residing in an OFAC blocked or high risk geographical country. Funds to foreign beneficiaries are paid out in US dollars and issued via lump sum check. These would be mailed internationally and would not be available within the 24 hour period we endeavor to provide funds.

Open enrollment is during October of every year. New employees may also enroll within thirty days of starting employment with their agency or within 30 days of being sworn in. Beneficiary information can be updated at any time by completing the change form. It is encouraged you update this information as often as needed to ensure payouts go to the desired beneficiary.

change form

The first step is completing a Change/Termination form. This will document the separation from your agency. You can maintain coverage in retirement through a conversion program through Prudential Insurance. This is independent of the Fund and is a transaction solely between the member and Prudential. More information can be found here. Prudential has provided the following information to help you determine if conversion is for you:

• The LEBF Group Term Life Plan has a limited coverage time period vs. an Individual Policy which you can keep for life.
• The Conversion Policy is Guaranteed.  There is no Medical Evidence/records required or Health Questions that need to be answered.
• The Premium for a Converted Policy is much higher (as much as 10 times higher). In most cases, if an individual is healthy enough to be considered “insurable”, they can get a much better deal outside the conversion process.
• If a member’s employment ends and they feel they are uninsurable due to poor health, conversion is a great option.
• There are no age reductions on an Individual Policy.
• Conversion must occur within 30 days of separation from a member’s agency.

Change/Termination form

Conversion Letter

Yes, provided both agencies are part of the Fund. If the new employment occurs within 30 days coverage can be continued without interruption by completing a Change form indicating your jurisdiction change. If more than 30 days pass, you will need to terminate enrollment with your current agency and re-enroll as a new employee with your new agency.

Change form