Insurance and Payment Protection

The claim process includes:

• Electing protection on a loan.
• A protected event occurs (i.e. an accident, illness, unemployment, hospitalization, family medical leave).
• You notify Altana or TruStage of the loss. You can notify TruStage of the loss using the online portal.
• Protection is verified when you enter your loss information in the portal or call TruStage™ at 800.621.6323. Altana can also verify you had protection on the date of the loss.
• The claim is filed through the online portal or when you call TruStage™ to notify them of your loss.
• Provide your intake through the portal or phone call at the time you register the claim.

Please provide the contract or branch number assigned to the location where you elected and were issued the insurance coverage. If the coverage was provided over the telephone or online, please provide the home office credit union contract number.

Yes. You should file all claims immediately. It is a violation of insurance law to make a decision on whether a claim is payable unless you are licensed as an insurer or granted authority by an insurer. Therefore, all claim decisions must be made by TruStage™.

Depending on the complexity of your claim and the information that needs to be reviewed, the time it takes to process your claim could vary. When using the online portal, some decisions are made within seconds. If additional information is needed, someone will reach out to get that information.

The status of the claim can be viewed by going to lendingclaim.trustage.com. For additional questions on the status of a claim, please contact the TruStage™ Lending Claims Service Center at 800.621.6323 (Monday through Friday from 8 a.m. to 5 p.m. CST) to speak with a Customer Service Center representative.

Claims are filed according to the type of loss experienced and protection provided on the loan at the time of loss. Possible claim types include Disability, Involuntary Unemployment, Life or Life Plus. Life Plus includes: Hospitalization, Family Medical Leave, Loss of Life of a Non-Protected Dependent, Terminal Illness or Accidental Dismemberment.

The waiting period is the number of days that must pass prior to being eligible for benefits. The contract or certificate of insurance will specify the waiting period, typically 14 or 30 days, and when benefits will become due.

• Some contracts or certificates of insurance specify that if a period of disability or unemployment lasts at least 14 or 30 days then benefits will begin the first day of loss.
• Others use a non-retroactive period where benefits do not begin until the 15th or 31st day after the loss event.
  Please refer to your contract or certificate of insurance for specific protections terms and conditions.

Your payment protection is designed to provide benefits when a serious life event occurs. Creating a program with a waiting period helps lower the cost of payment protection and still provides the protection needed when a serious life event continues past 14 or 30 days. Altana’s specific waiting period is referenced in the Credit Insurance Application and Certificate or Member Agreement.

No. You should file all claims immediately, even if your contract includes a waiting period. Do not wait for waiting periods to end. You should also never delay a claim for a “future event” (such as a planned surgery). You should file claims immediately.

Upon completion of any form, you can send it in to TruStage™ a number of different ways:

• Altana can upload documents online at any time.

• Email: members.claims@trustage.com

• Fax: 855.726.2513 (Toll-Free)

• Mail: Claims/TruStage

PO Box 5010

Madison, WI 53705-0010

If you refinance a previously protected loan and elect protection on the refinanced portion of the loan, the most recent loan date would be the protection effective date. The loan origination date should be the date the original loan was implemented with protection.

Mark “yes” in the field that asks if the loan was previously protected if the previous loan protected against the same type of loss.

If the refinance occurs within the loss exclusion period, pre-existing period, or vesting period:

• Mark “yes”’ to the transaction question
• List any money that was added to the loan as advances.

When a claim is paid, the payment is always sent directly to Altana. Altana will post benefits to the account or loan. The payment is typically sent electronically, and an Explanation of Benefits (EOB) letter will be sent. For Life claims, the EOB will accompany the payment when sent to Altana. If you remain disabled/unemployed, additional updates may be requested during the life of the claim either through verbal contact or a supplemental claim form.

Benefits are either processed as daily or monthly payments, depending on the provisions of your contract or certificate of insurance.

• If your contract or certificate of insurance protects a daily benefit, benefits are calculated on the monthly loan payment and the number of days you qualify for benefits. Benefits less than one full month will be pro-rated as specified in your contract or certificate of insurance.
• If your contract or certificate of insurance protects a monthly benefit, a minimum of 1 monthly scheduled payment will be processed; additional monthly benefits will be extended for each 30 days of support received. Benefits will be reviewed according to your scheduled monthly payment amount. Please refer to your contract or insurance schedule/certificate of insurance for specific terms and conditions.

Benefit maximums vary depending on the protection terms listed in your contract or in the insurance schedule/certificate of insurance. Your specific benefit maximums will be outlined for you. Benefit maximums may include total dollars per claim – maximums for monthly payments or age. Please refer to your contract or insurance schedule/certificate of insurance for specific protection terms and conditions.

• If benefits are processed according to a daily payment, the benefit amount will be based on the monthly equivalent for the number of days you qualify for benefits as specified in your contract or certificate of insurance.
• If benefits are processed according to a monthly payment, the benefit amount will be the protected monthly payment as specified in your contract.

Additionally, any advance taken prior to your loss period may not be protected and the payment for that advance may not be covered. You are responsible for re-paying any amounts that are not protected. Please refer to your contract or insurance schedule/certificate of insurance for specific terms and conditions.

Whether or not you have made a claim for benefits, you remain obligated to the credit union to comply with the terms of your loan agreement. If you have already made loan payments for the time period when benefits are being extended, contact Altana to determine how benefits will impact your loan.

Notify TruStage™ when a loan has been paid off so that they can determine whether benefits will continue. Continuation of benefits is determined based upon terms of the contract and may also depend on the specific reasons the loan is paid off. Depending on these situations, benefits may or may not continue.

Benefits may not cover some fees and charges such as late fees, unscheduled or additional finance charges or balloon payments. Please refer to your policy/certificate for specific details. Any Advances that are excluded from benefit payments under the terms of this protection, or any money added to the principal balance of the loan after the date of the event (even if any of those amounts were incurred while a claim was being reviewed) are excluded and are solely your responsibility.

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