Q: Must I be a Member of the National Association of Professional Insurance Agents to participate in a Trust insurance plan?
A: The Trust plans require that at least one individual in the Agency maintain a current membership status in the National Association of Professional Insurance Agents for continued coverage eligibility.
Q: What types of insurance plans are available?
A: The Trust offers Long Term Disability Income, Short Term Disability, Business Overhead Expense, Accidental Death & Dismemberment and Hospital Income and various Term Life Plans (see question # 5).
Q: Who may apply for coverage in the Trust plans?
A: Members and their employees may apply for coverage in all plans. Employees may apply irrespective of whether their employer participates in the plan or contributes to the cost of the coverage with the exception of the Basic Term Life Plan. The guaranteed issue Basic Term Life Plan requires that 100% of all eligible individuals in a Member Agency participate and the employer must pay 100% of the premium.
Q: Does the Trust offer a Term Life Insurance Plan for my agency?
A: Yes, the Trust offers three Group Term Life insurance plans.
- The Basic Group Term Life Plan is available to members and their employees. All eligible employees must participate and the employer must pay 100% of the premium. Eligible members and employees will be insured for a level benefit based on their occupation classification as follows:
- - $50,000 for Owners, Partners, Officers and Agency Managers
- - $30,000 for Agents, Brokers and Licensed Employees
- - $20,000 for all other positions
Medical underwriting is not required for eligible applicants enrolling in the Basic Term Life Plan.
- Under the Voluntary Term Life Plan, members and employees may purchase Group Term Life Insurance in amounts up to $300,000. Participation in the Basic Group Term Life Plan is not required. This plan is medically underwritten.
- The Dependent Life Insurance Plan is available for members and employees to insure their spouse (up to $100,000) and children in the amount of $3,000. The member/employee must be insured in the Life plan to apply for Dependent coverage.
Q: How many hours per week must I work in order to be eligible for coverage in the Trust plans?
A: The Trust’s Long Term Disability plan requires that the individual work at least 30 hours per week and be continuously employed for one month to be eligible for participation. The Short Term Disability, Basic and Voluntary Life, Hospital Income and Accidental Death & Dismemberment plans require that the individual work at least 20 hours per week and be continuously employed for one month to be eligible for participation in these plans.
Q: Is underwriting approval required for acceptance into a Trust plan?
A: Depending upon the plan for which you apply, medical underwriting will be required and coverage may be denied. Medical underwriting is not required for the Guaranteed Issue Basic Term Life, Hospital Income and Accidental Death & Dismemberment Plans. The Long Term Disability is also not medically underwritten but is subject to a pre-existing condition limitation. Contact the Plan Administrator at 800-336-4759 for plan specific information.
Q: How often will my premium rate change?
A: Assuming that your coverage and benefit amounts do not change, your premium rate will change in five-year age increments with the exception of the Accidental Death & Dismemberment Plan. The premium rate for the AD&D Plan will not change until the insured has attained age 70.
The insurer reserves the right to adjust the premium rates on any plan’s policy renewal date. Participants will be provided with 30 days notice prior to a rate change.
Q: At what age will my benefits start to reduce and by how much will they reduce?
A: The age at which benefits start to reduce and by how much varies from plan to plan. Contact the Plan Administrator at 800-336-4759 for plan specific information.
Q: Who administers the Trust Plans?
A: Lockton Risk Services (LRS) is the Plan Administrator for the PIA Services Group Insurance Fund plans. Their focus is specifically for the purpose of providing program administration services.
Please call 800-336-4759 for questions about the PIA Services Group Insurance Fund plans.
Fax number: 913-652-7599
Lockton Risk Services
PO Box 410679, Kansas City, MO 64141-0679.