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LSI Discontinuance

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LSI Discontinuance 220 Paul Bryant Drive East June 26, 2013 Tuscaloosa, Alabama 35401 Mailing Address: Dear Member: P. O. Box 862998 (35486) Recently, our long-time provider informed credit unions across the U.S. that it will (205) 348-5944 discontinue its Life Savings Insurance program. This program, paid for by Alabama Credit (888) 817-2002 Union for its members, provided no-additional-cost coverage to members, based on the members' sustained deposits in the credit union and the age at which the member Birmingham Post Office deposited the funds. Although a popular program for many years, very few Alabama • Cottondale (Tuscaloosa) Credit Union members now qualify to file claims on the blanket policy, and we have found • no other insurance providers who offer similar coverage. Details follow. Cullman • Due to a significant decline in demand from credit unions and their members, CMFG DaPhne Life Insurance Company has made the decision to exit the Life Savings product line. • Effective August 31, 2013, the Life Savings Insurance group policy will be cancelled. Decatur This is the term life insurance which has been provided at no direct cost to you on • eligible savings deposits up to a maximum of $5,000. FairhoPe • Coverage on existing insurable deposits will end on October 1, 2013, the last day of Fayette the conversion period. Please destroy any Life Savings Certificate of Insurance • Ferguson Center (UA Campus) provided by CUNA Mutual Group at that time. • Foley We know many of you value the peace of mind and security that life insurance • provides. That’s why we wanted you to know you can convert your Life Savings Fultondale coverage to a Primary Protection Plan, underwritten by CMFG Life Insurance • Company. This new plan is a member pay, whole life plan up to $5,000. If you apply Gulf Shores within the stated time period, there are no age restrictions, waiting periods, • exclusions, or health questions. If you convert, your new policy will be effective Hillcrest (Tuscaloosa) October 2, 2013, and premiums will be based on whole life insurance rates for your • age on that date. Huntington (Tuscaloosa) • Conversion is simple. Just request, complete, and return an application with your Indian Hills (Tuscaloosa) first premium payment to CMFG Life Insurance Company by October 1, 2013 in • order to receive coverage. South Whitesburg (Huntsville) • North River (Tuscaloosa) We feel it’s important to carefully consider the option discussed above. To request a • quote or application for the Primary Protection Plan offered by CMFG Life Insurance Orange Beach Company, call 877.636.2377 to speak with one of CUNA Mutual Group’s fully licensed • insurance representatives. UAH (Huntsville) • If you have any questions about these changes, please call our Member Care Center Valleydale (Birmingham Area) at 205.348.5944 or 888.817.2002. As always, we appreciate the opportunity to serve • you. Vance (Mercedes-Benz U.S. International) Sincerely, • Steve Swofford President AlabamaCU.com The insurance sold through CMFG Life Insurance Company is not a deposit and is not federally CreditUnion.net insured or guaranteed by your credit union. Policy number: 001-0190-9. .
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