If you die while an active member, or as an eligible retiree receiving a disability pension and you are under age 65, the Health Benefit Plan pays a life insurance benefit of $40,000 to your beneficiary automatically.
This benefit is paid through the Plan’s insurance policy with the Amalgamated Life Insurance Company. (Eligible retirees must be receiving a disability pension from the National Elevator Industry Pension Plan or the IUEC Officers and Employees Pension Plan and be under age 65 to be eligible for a Plan benefit.)
What you need to do
To name or update your beneficiary, complete and notarize the enrollment form, and submit it to the Benefits Office.
Your beneficiary designation will not be effective until the Benefits Office receives your form. If you get divorced, your designation of your former spouse as your beneficiary will be invalid automatically.