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Group Life Insurance enrollment ends soon
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Posted on Sep 22 2008
This is an open reminder to both active employees as well as retirees of the CNMI government. Your Government Group Life Insurance enrollment comes to an end on Sept. 30, 2008, which means if you have yet to complete your enrollment application, then you will lose your Government Group Life Insurance coverage on Oct. 1, 2008.
Effective July 1, 2008, Moylans Insurance Underwriters was awarded the contract to administer the CNMI Government Group Life Insurance program. Enrollment has been quite successful; however there are still hundreds of employees who have yet to complete their applications. Keep in mind that although enrolling is not mandatory, completing the forms is if you plan on maintaining your coverage.
Many employees have been misinformed with information that the coverage automatically rolls over without any documentation. Once again, this is not true. Another common confusion is that personal insurance programs are being affected during this enrollment period. This is also misinformation, and we highly recommend that employees refrain from amending their payroll allotments, as this may affect any cash value buildups on your supplemental plans. The only changes on your insurance program are your group basic and dependent life coverage. These are indicated on your check stubs as Life Basic and DepCov, respectively. The benefits of the Government Group Life Insurance program are mirrored with the benefits you have enjoyed for many years. It is also relatively inexpensive and during the enrollment period no medical underwriting requirements are needed. This is definitely coverage that would provide the additional protection that your family truly deserves.
If any additional questions arise, then please contact our office at 234-6129. Remember that time is running out very quickly.
[B]
Bobby A. Shringi[/B]
[I]Moylans Insurance
Beach Road, Saipan[/I]
