First Americans to Launch Tribal Life Insurance Trust by Jason Gill, First Americans Insurance First Americans Insurance has been working exclusively with Tribal Governments and their related enterprises since 1977. During this time, First Americans has seen the unique needs and desires of the Native American community change. However, one thing has remained constant: the strnog desire for each tribe to strongly protect their sovereignty and their enrolled members. As a result, we were the first firm to develop insurance products and companies specifically designed to address tribal needs. First Americans Insurance Group, Inc. provides property and liability insurance and First Nations Compensation Plan, Inc. provides workers compensation benefits for Tribal Governments and tribally owned enterprises. We are continuously searching to find products and service to help address the needs of the Native American Community. As a result, First Americans Insurance Service, Inc. in conjunction with the Winnebago Tribe of Nebraska has developed a "Tribal Member Life Insurance Trust" that provides life insurance benefits from an "A-Excellent" rated life insurance company with benefits ranging from $5,000 to $25,000 to ALL enrolled members. There have been several insurance programs that have tried to address the unique needs of tribal nations over the years, however, no insurance company has been able to provide a program that was able to sustain the longevity a program such as this requires. In addition, few of those programs have addressed the administrative or financial concerns that either the Tribe or their membership had concerning both premiums and the payment of benefits. Simply stated, insurance companies didn't understand the administrative challenges a tribe may face or the moral obligation and commitment Tribal Governments have for their enrolled members. The "Tribal Members Life Insurance Trust" will allow all participating Tribes to enroll their enrolled members from their normal membership listing, regardless of their health conditions. Typically, life insurance companies require applications, which include numerous health questions for every insured, but with the "Tribal Members Life Insurance Trust" there are NO health questions and NO individual applicatins to complete. Furthermore, the Tribe can elect to be the premium payor, the beneficiary of all or part of the death benefit proceeds, and the amount of life insurance ($5,000 to $25,000). This may allow the participating Tribe to negotiate burial expenses with local businesses as they can assure expedited and direct payments for a large group of individuals, which would entice a business into lowering their normal costs. In turn, the Tribe can elect to have the benefits paid directly to the member's beneficiary. That decision rests solely with the Tribe. We have designed the program so it is simple and easy to administer. The initial rates or premiums are calculated based upon the enrollment records that are provided to the Trust. The enrollment records must indicate the following: gender (male or female), date of birth, and the number of member deaths and their ages that have occured in each of the three precedin years. Upon acceptance by the trust, a master application for member benefits is completed by the Tribal administration and social security numbers for enrolled members must be submitted and matched to the previously sumbitted tribal enrollment records. Monthly premium and benefit payments are based upon Tribal enrollment records that are provided to the trust on a monthly basis, but will not change for two years. Tribal Administration will decide when an enrolled member is eligible to be added onto the plan, either monthly, quarterly or annually. In order to further enhance the program we have been able to negotiate rates based upon the design and implementation of a nationwide program that will include Tribes from all over the country. This will allow the Tribes to receive deeply discounted rates without incurring the additional charges of other member Tribes. Each Tribe is allowed to enjoy an individually rated program and is not penalized for another Tribes losses. This concept will afford the Tribe and the Trust to maintain the program for years to come, providing the much needed stability that previous plans have lacked. We are truly excited to have partnered with the Winnebago Tribe of Nebraska to bring you this exclusive and innovative program designed specifically for Tribal Nations. For more information, contact: First Americans Insurance Service PO Box 2085 Grand Island, NE 68802 Phone: 800-643-5633 Fax: 888-474-4644 Email: trustlife@fais.com
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