I was the Operations Officer in UNICEF Manila (1992 to April 2001) and the Chief of Operations of UNICEF China when I retired in July 2007. I am presently the Vice President - Pension and Insurance Matters of AFICS Philippines.
Hope you will be able to include this article in one of your Weekly Digest this November. Thank you and my good wishes to everyone.
Maria Magdalena "Marlene" Arduo
Editor's Note: Refer also to the UN Health and Life Insurance Section website - click here
Free After Service Life Insurance, Anyone?
When you first joined UNICEF, did you sign up for the UN Group Life Insurance with AETNA? In the Philippines, it was almost automatic that UNICEF Manila would enroll its new staff in this UN Group Life Insurance. This despite that enrollment in this UN Group Life Insurance was supposed to be voluntary as only the staff pays for the insurance premiums.
What is the coverage of this UN Group Life Insurance? It is THREE TIMES ONE’S PENSIONABLE REMUNERATION subject to a MAXIMUM OF US$300,000. So what happens when one retires?
Do you know that one gets entitled to a FREE AFTER SERVICE LIFE INSURANCE (ASLI) upon retirement? Yes, upon RETIREMENT and FOR FREE!!! No further premium payments. Requirements: 1) at least 55 years old when one retired; 2) had paid for at least 10 years of cumulative insurance premiums as an active staff member; and 3) was a continuing premium paying participant on the date of one’s retirement. IMPORTANT: when transferring to another duty station, one also CONTINUES to subscribe to this UN Group Life Insurance. No automatic subscription upon change of duty station.
This FREE AFTER SERVICE LIFE INSURANCE (ASLI) however reduces as one grows older. For instance, if one’s coverage at the time of retirement was the maximum amount of US$300,000, the FREE ASLI at the time of retirement/or separation becomes US$150,000 or 50% of one’s insurance coverage from said date till before one reaches the age of 70. From age 70 up to and before the age of 75, the FREE ASLI is reduced to US$75,000 or 25% of one’s insurance coverage. And when one turns 75 years old, the FREE ASLI decreases to US$10,000 maximum or US$5,000 minimum.
Did you ever sign up for this UN Group Life Insurance offered among UN Agencies particularly to UNICEF with its worldwide offices? Did you know about this FREE AFTER SERVICE LIFE INSURANCE? Have you ever told your beneficiary/ies about this FREE ASLI? Do you know of a UNICEF Colleague who may have had this UN Group Life Insurance but who may have already passed on?
In 2019 there was this big change -- the change in the UN underwriter of this UN Group Life Insurance from AETNA to THE HARTFORD! However, NO CHANGE in the TERMS AND CONDITIONS of this group policy. According to reliable sources, when the UN was negotiating with The Hartford in November 2019, they were able to negotiate some US$5,000,000 savings over the five year period of the policy. What could have made possible this much savings in premiums? Claims under this UN Group Life Insurance Policy previously with AETNA not properly filed by beneficiaries? Fortunately, there is NO PRESCRIPTIVE PERIOD for filing claims as long as the required documents are complete.
So if you have this FREE ASLI or you may know of a living or departed XUNICEFer who had this UN Group Life Policy and you wish to know more, particularly on what to do, please click here
Many thanks Maria
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