What does the Cambridge Trust Plan mean to me?

TYour Employer joined this Benefit Plan and Trust to help you provide for the future economic security of your family. Each year your Employer may contribute an amount to the Trust Fund, which will be used to fund a death benefit payable to your named beneficiary. The Plan will pay a death benefit to any beneficiary you choose, except your Employer, provided the conditions for the insurance contract have been met. The Death Benefit will be paid within the sixty days after the Insurer pays the Insurance proceeds on the life of the Plan Participant to the Plan.

When am I eligible to join?

In order to join the Plan, you must meet certain requirements. Primarily, you must be selected by your Employer to participate in the Plan and meet certain underwriting standards of the Insurer. The determination as to whether you are eligible is made on the day your
Employer adopts the Plan.

What are my benefits under the plan?

The amount of your death benefit under the Plan is as determined by your Employer in the Adoption Agreement and as stated in the Certificate of Coverage sent annually to your Employer. The Employer reserves the right to amend or terminate your Plan benefits at any time. Until insurance coverage is in effect, the total amount of death benefit payable by the Plan is limited to the contributions made by the Employer.