Summary of Material Modifications to the SAMBA Employee Benevolent Fund
This Summary of Material Modification (“SMM”) modifies some of the information contained in the Certificate of Insurance for the SAMBA Employee Benevolent Fund Group Term Life Plan (the “Plan”) that describes the Plan as of 9/1/2024.
Modification(s)
The insurance carrier for the Plan has changed. Effective 9/1/2024, the insurance carrier is The Prudential Insurance Company of America.
As of 9/1/2024, the contract number for the Plan is 72117.
Important changes to certain benefits under the Plan are in effect as of 9/1/2024. In particular, coverage for Term Life is amended as follows:
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Accelerated Death Benefit is now available up to 75% of coverage amount.
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Beneficiary Funeral Planning, Will Prep & Concierge Services, along with Travel Assist have changed to Prudential’s beneficiary Resource Center which includes resources such as funeral planning, will preparation, bereavement care, EAP services and ID theft.
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