Franklin Madison’s Accidental Death and Dismemberment covers insured in the event of loss of life, limb, sight, speech, or hearing due to a covered accident.
Account Types
Share and Share Draft
Eligibility
- Insured and spouse: 18 and older
- Dependent children: 19 and under, or under 25 if enrolled in accredited institution of higher learning
- No termination age; however, coverage reduces by 50% at age 70 or older
Family Coverage
- Spouse: Spouse with children – 50% additional coverage amount; spouse without children 60% additional coverage
- Child(ren): 20% additional coverage amount
Itemized Coverage
Loss of Life – 100% of benefit; Loss of Both Hands or Both Feet or Entire Sight of Both Eyes – 100%; Loss of Speech and Hearing – 100%; Loss of One Hand and One Foot – 100%; Loss of Either Hand or Foot and Entire Sight of One Eye – 100%; Loss of Entire Sight in One Eye – 50%; Loss of Either Hand or Foot – 50%; Loss of Speech or Hearing – 50%; Loss of Thumb and Index Finger on Same Hand – 25%
Additional Features
Anti-Inflation Benefit: For every two years Additional Coverage remains continuous, it will be increased by 5%. This provision can continue to increase until it reaches 125% of the original coverage amount.
Common Carrier Accidental Death: Provides benefits for accidental loss of life from a covered injury while traveling as a fare-paying passenger in or on a public conveyance operated by a licensed common carrier. Benefit is two times the amount of supplemental coverage.
FAQ
Q: Do I automatically receive the no-cost basic insurance?
A: No. You must complete and return the enrollment form.
Q: Must I buy additional coverage in order to get the AD&D no-cost basic coverage?
A: No. The coverage is our gift to you as long as you have an account with us.
Q: Does this cover on-the-job accidents?
A: Yes. You’re covered 24 hours a day, worldwide.
Q: How much additional coverage is available? Can I also insure my family?
A: AD&D insurance has coverage levels to fit your budget, from $10,000 to $300,000. Spouses and unmarried children age 19 and under (under age 25 if full-time students) may be insured under the family plan. If the family plan is selected, spouses are insured for 50%, dependent children are each insured for 20%. Households without dependent children: spouse coverage is 60%.
Q: Must I take a medical exam or answer health questions?
A: No. You are guaranteed acceptance.
Q: I bought additional coverage and received “Added Benefits.” What does this mean?
A: You automatically receive five added benefits that are included with your insurance.
(1) Common Carrier Accidental Death: Provides payment for common carrier accidents.
(2) Education Expense Benefit: Provides payment of a benefit to each dependent child enrolled as a full-time student in an institution of higher learning.
(3) Anti-Inflation: Provides protection of your Principal Sum value against inflation.
(4) Dependent Child Care: Provides reimbursement of incurred child-care expenses if the insured dies from a covered accident.
(5) Accidental Hospital Indemnity: Provides payment for each day the insured is hospitalized. Accidental Hospital Indemnity is not available in NY and WA. In NY, the fifth benefit is: Total and Permanent Accidental Disability. In WA, the fifth benefit is: Adaptive Home and Vehicle.
Q: Is there an age cut off?
A: No. However, coverage reduces by 50% at age 70 and older.
Q: When does my coverage begin?
A: See your Insurance Coverage Document for “Effective Date.”
Q: What does “common carrier” mean?
A: This is paid travel on common or public forms of transportation such as: commercial airlines,
trains, buses, cabs, ferries, etc.
Q: How long does it take before I receive my Insurance Coverage Document?
A: Processing and issuance of the Insurance Coverage Document takes about 30 days.
Q: What if I decide to cancel?
A: You have a no-risk, 30-day guarantee so if you choose not to keep your insurance, just call toll-free
1-877-309-6576 to cancel.
Q: How will I be billed?
A: 1) Share account holders: the premiums will be automatically debited from your account quarterly. These transactions will be reflected on your statement.
2) Share draft account holders: the premiums will be automatically debited from your account quarterly. These transactions will be reflected on your statement.
Q: How do I file a claim?
A: Call toll-free 1-877-309-6576 weekdays, 8:00 a.m. to 9:00 p.m. EST Or visit http://fmservice.com.
Q: How long will it take to process my claim?
A: Once the Plan Administrator receives the appropriate information and documentation, claims are processed within 5 days and then forwarded to the underwriter for benefit determination.
Q: How will my members identify the insurance coverage charge on their statements?
A: Franklin Madison Group is the third-party administrator for the insurance carrier providing premium billing and other services on behalf of the carrier. Franklin Madison facilitates the premium debit or charge and maybe indicated on the bill. Please refer all insurance questions to Franklin Madison at 877-309-6576. For faster service, please provide the coverage ID located within the billing descriptor (9-digit number starting with 6 or 7). Or visit https://fmservice.com.
Q: May my credit union representative call customer service on my behalf?
A: To maintain the privacy of the insured, information can only be provided if the primary insured is present to give consent.