Benefit Enhancement: Group Enhanced Life (GEL) Insurance
The new year came with new benefits! As of January 1, 2021, AFSPA’s Group Enhanced Life (GEL) insurance issued by the Prudential Insurance Company of America has been enhanced with a new Life Events benefit. Members who are not yet at the $200,000 Guarantee Issue (GI) limit are allowed a one-time coverage increase of $50,000 within 60 days of a Qualified Life Event (QLE) without having to complete a health questionnaire. This coverage allows you to use a portion of your principal sum coverage to assist with home care, assisted living, and nursing home expenses.
QLE is defined as:
- Marriage or divorce
- The death of your spouse or child
- The birth or adoption of your child
- Employment or termination of employment of your spouse
- Switching from part-time to full-time employee status (or vice versa) by you or your spouse
The increase cannot exceed the maximum GI limit of $200,000.
For more information on GEL insurance click here.