Dear Sisters and Brothers
This post contains information on the ATU Local 583 Life Insurance Policy that we have administered since 1958.
Prizm Financial is the current agent we are using to administer this group life policy.
When someone signs up to become a Member of Local 583, they are offered this policy and normally have 60 days to complete and return the forms to become insured without a doctor’s long form (medical evidence).
We are currently offering an open enrolment in this policy to ALL active Members in good standing. This is only the third open window since the creation of this policy. This means if you previously chose not to take the life insurance policy and would now like to sign up – no medical evidence is necessary. This open window is valid until June 1, 2022.
Our ATU Group Insurance fund subsidizes the rates. This makes the $30,000 base policy less by 30%.
$5.24 per pay for single coverage and $7.20 per pay for family coverage. The Bylaws also allow for a refund of premiums upon retirement, based on years in the plan.
This is a term life policy exclusively held by ATU Local 583. No agents or salespeople will approach you to sell ANY level of insurance. This is simply an opportunity for our Members to participate in our existing policy.
If you would like to apply for this coverage through ATU Local 583, please contact our agent at Prizm Financial at 403-244-7800 or email them at service@prizmfinancial.com.
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Open Enrolment for Basic Life and Dependent Life Insurance
Before June 1, 2022
General Information:
o This is a one-time offer
o Benefits must be applied for by June 1, 2022
o Maximum age for dependent children is under 21 years of age. If dependent child is in school full time the age increases to 25.
o Cohabitation rule – 12 months
Life Insurance Policy – 335278:
o Flat amount of $30,000
o You can convert the flat amount into an individual life insurance prior to age 65.
o Benefit terminates at retirement
Dependent Life Insurance Policy – 335278:
o Spouse – $15,000. You can convert the flat amount into an individual life insurance prior to age 65
o Each child – $5,000. Benefits commence at birth, and you cannot convert the child benefit to an individual policy.
o Benefit terminates at retirement
To apply for this coverage through ATU Local 583, please contact our agent at Prizm Financial at 403-244-7800 or email them at service@prizmfinancial.com
Posted by
Mike Mahar
President/Business Agent
ATU Local 583
COPE 397 MM/jw
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Please note if your address is up to date with us, you will also receive this information via letter post.
