Top 10 Frequently Asked Questions


1.  What is the Machinist Custom Choices program?


The Machinist Custom Choices program began in 1997 and was designed to provide more financial security for IAMAW members and their families through a series of individual insurance products offered at the worksite through payroll deduction. The products developed have benefits and features not normally available to an individual and were negotiated based on the national size of the IAMAW membership.


2.  Is the Machinist Custom Choices program available to all IAMAW members?


The program is available to members covered by a Collective Bargaining Agreement that includes the Custom Choices program. The program is currently in over 300 CBAís and provides additional financial security to over 60,000 IAMAW Brothers and Sisters, and their families. EBS is working with IAMAW representatives to include the program in all CBAís as they come up for negotiation.


3.  How do the insurance companies collect the premium due for these policies?


Premiums for the coverage(s) selected are payroll deducted and remitted to the insurance companies by each employer covered by the Collective Bargaining Agreement.


4.  In the event an employee terminates employment or retirees, what happens to the policies they purchased?


With the exception of the disability policy, all policies are fully portable, and can be taken with the employee at the same cost and benefits. At that time, the policy owner would pay premiums directly to the insurance company.


5.  Is the policy owner able to cancel their policy whenever they want?


The policies issued through the Custom Choices program are individually owned. As such, the policy owner may cancel their policy at any time.


6.  How is the plan enrolled?


If the Machinist Custom Choices program is included in a CBA, enrollment counselors visit the worksite to meet individually with each IAMAW member. They explain the benefits of each plan, provide premium information, answer questions, and enroll those interested in the plans.


7.  Is coverage available for the entire family?


Family members are able to participate in all but the disability plan. Employees, their spouses and dependent children may be covered for life insurance, critical illness, cancer insurance, and accident insurance. Life insurance is also available on grandchildren if the application for coverage is submitted before the grandchild reaches the age of 15.


8.  Is there an opportunity to make changes to the coverage levels elected in the future?


Each year, the enrollment counselors will return to the worksite to answer any questions and make changes or additions to existing policies. Employee Benefit Systemsí customer service staff is also available to make changes throughout the year. They can be reached toll free at 888-521-2900.


9.  How is the premium for each policy determined?


Premiums are based on the proposed insuredís current age. Premiums are not affected by gender or whether or not the applicant smokes.


10. Explain the need for a Critical Illness with Cancer policy.


While life insurance provides financial security in the event of death, Critical Illness and Cancer insurance policies provide security when an insured is diagnosed with a covered critical illness. Many individuals who have been diagnosed with what once was a fatal illness are now overcoming the odds and surviving. Benefits from the Critical Illness and Cancer policies are paid to the insured upon diagnosis. Benefits are typically used to offset loss of income while the insured is out of work undergoing treatment, to cover non-medical expenses such as travel and lodging or a spouseís time off work, and to help with daily living expenses.



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