Handbook - Indiana County, Pennsylvania

Account balances are not insured by theFederal Deposit Insurance Corporation(FDIC). Alliance Account funds are backed bythe financial strength of The PrudentialInsurance Company of America and StateGuaranty Associations. Open Solutions Inc.,JPMorgan Chase Bank, N.A., and First DataPayment Services are not Prudential Financialcompanies.b) If the proceeds are to be paid in 36 equalmonthly payments, the first payment will bepayable as of the date of death. The amount ofeach payment will be computed so as to includeinterest on the unpaid balance at the theneffective rate.10.11 LEGISLATIVE HISTORYa. Public Law 107-14, effective November 1, 2001, established Family SGLIcoverage for members of the uniformed services who are eligible for full-timeSGLI coverage. This law allows for elected SGLI insurance coverage of themember's spouse for up to $100,000, in $10,000 increments, and automaticcoverage of the member's dependent children for $10,000 for the time that theyhave full-time SGLI coverage. It also allows the dependent spouse theopportunity to convert SGLI Family coverage to a private life insurance policy.44