Complimentary Coverage

What is complimentary coverage?

Complimentary coverage is a policy where the premium is paid by someone other than the insured, usually by a bank or financial institution.

Why are they offering me this complimentary coverage?

Your bank is offering the complimentary coverage as a thank-you for being a customer. This coverage is offered to you compliments of your bank to show their appreciation for your business.

Is this coverage really free?

You will never be charged for complimentary coverage.

It says this is free for two years. What happens at the end of two years? Do they start charging me for it?

In most cases, at the end of two years the coverage simply terminates. You will not be charged. Time periods for free coverage vary from plan to plan.

Will they send me something in two years telling me the coverage is not valid anymore?

No. Your Certificate of Insurance will indicate how long you will be covered. You will not receive additional notification.

Can I continue the coverage after two years by paying if I want to?

The complimentary coverage terminates after two years and cannot be continued.

Can I renew the coverage after two years?

Complimentary coverage cannot be renewed.

Can I take out the free coverage now and increase the amount later?

This group insurance plan has a limited enrollment period. When you receive your certificate for the complimentary coverage, you will have a second chance to sign up for a higher amount. Once the enrollment period closes, however, you will no longer be able to sign up for the additional coverage.

What if I change from a bank branch in Georgia to a branch of the same bank in Tennessee? Will I still have the free coverage?

The complimentary coverage is not tied to a specific account. Changing to a different bank branch will not affect your coverage.

What if I leave my bank and open an account with a different bank?

The complimentary coverage will not be in effect if you are no longer a customer of the bank providing the complimentary coverage.

Do I have to sign up for the additional coverage to get the free coverage?

No. Even if you don't sign up for the additional coverage, you can still get the no-cost coverage.

*Coverage details vary by policy. These examples may or may not apply to your policy, and are for illustrative purposes only. Please check your policy for the specifics of your coverage.