Retired participants and dependents are not eligible for the life insurance benefit from the Welfare Fund. When a retiree loses eligibility under the Active Plan of benefits, group life insurance coverage through the Aetna Life Insurance Company terminates.

The participant or dependent may then, by making application, convert the group life insurance to an individual self-pay life insurance policy with Aetna Life Insurance Company. This individual policy will be issued without medical examination at the insurance company’s regular rates. If you desire this conversion policy you must obtain an application form and file it in accordance with the instructions within 31 days after "Active" eligibility termination.

(If your death should occur within 31 days after termination of “Active” Welfare Fund eligibility, the benefit will still be payable.)

The conversion privilege means that Aetna has to accept you for this life insurance regardless of your medical history or condition. You can convert all of the existing life insurance or any part of it, in increments of $1,000, up to the maximum of $50,000.

Application forms for the conversion policy can be obtained from the Participant Services Dept. at the Fund Office (312-787-9455, phone option 3).

Disability Extension (for Participants only)
If, prior to reaching age 60, a participant becomes totally and permanently disabled while eligible for the life insurance benefit from the “Active” Plan of Benefits under the Welfare Fund, the Welfare Fund will continue the participant’s life insurance benefit by paying the required premium as long as the participant remains disabled and the group policy remains in force, provided proofs of disability are furnished as required. The first proof should be filed with the Participant Services Dept. at the Fund Office, within three months after loss of “Active” Welfare Fund eligibility. Subsequent proof of disability may be required. In the event the group policy is terminated, the life insurance benefit will terminate. In no event will an extension of the life insurance  benefit be granted unless an application for the life insurance  benefit extension is filed within one year after loss of eligibility for the “Active” Welfare Fund benefits.