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Enrollment deadline for group life insurance nears
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Posted on Sep 22 2008
Government employees and retirees were reminded yesterday of the nearing deadline for enrollment to the government group life insurance program.
Moylan’s Insurance Underwriters, the new administrator of the program, issued notice that the enrollment period will end on Tuesday, Sept. 30, 2008.
“[This] means if you have yet to complete your enrollment application, then you will lose your government group life insurance coverage on Oct. 1, 2008,” said Bobby A. Shringi of Moylan’s Insurance.
Moylan’s Insurance, the general agent for NetCare Life and Health Insurance, was awarded the contract to administration the CNMI government’s group life insurance program on July 1, 2008. Since then, Moylan’s Insurance agents have been visiting government agencies to meet with active employees and retirees to allow them to sign up, update their personal information, and confirm their beneficiaries.
But Shringi said hundreds of employees still have not completed their applications. “Keep in mind that although enrolling is not mandatory, completing the forms is if you plan on maintaining your coverage,” he said.
Shringi also pointed to misinformation that he said has been spreading about the life insurance program. One example, he said, is that coverage automatically rolls over without any documentation. Another common confusion is that personal insurance programs are being affected during the enrollment period. Shringi said this was not true, and he urged employees to refrain from amending their payroll allotments. The only change, he said, is on the group basic and dependent life coverage, which is indicated on the check stub as “Life Basic and DepCov.”
“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,” Shringi said.
Moylan’s Insurance and NetCare took over from Individual Assurance Company as the carrier of the Fund’s life insurance program. IAC’s three-year contract expired in June 2008.
