How does the Fund differ from traditional life insurance?

Traditional life insurance is paid out after death certificates are provided and significant paperwork 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.

Can I set a juvenile as my beneficiary? Why should I NOT set a juvenile as a beneficiary?

Legally yes. However, it is highly discouraged. 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 24 business hours. 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 affairs immediately after your passing who would need access to funds to accomplish those tasks.

Can I set a beneficiary that lives out of the country?

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.

When can I enroll or change beneficiaries?

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  and submitting it to your agency’s Director. It is encouraged you update this information as often as needed to ensure payouts go to the desired beneficiary.

I am retiring, what do I need to do now? Can I keep my coverage after I retire?

The first step is completing a Change/Termination form  and submitting it to your agency’s Director. This will document the separation from your agency. You can maintain coverage in retirement through a conversion program, where you contact Prudential Insurance and they offer you coverage due to your membership in the Fund. 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 their agency


I am retiring/resigning from one agency but going to work for another. Can I keep my coverage?

Yes, provided both agencies are part of the Fund. In most cases this can be accomplished simply by letting your new agency’s director know of the upcoming transfer. If the new employment occurs within 30 days coverage can usually be continued without interruption. If more than 30 days occurs, you will need to terminate enrollment with your current agency and re-enroll as a new employee with your new agency.