Navigating the risks of everyday life

NADA is proud to offer members access to the NADA-endorsed Personal Accident Insurance Plan, which is underwritten by The AIG Life Insurance Company and offers you comprehensive protection and exclusive benefits.

Additional information about the NADA-endorsed Personal Accident Insurance Plan:

Many NADA dealerships are already taking advantage of this valuable membership benefit. The reasons are clear:

• Affordable group rates have been negotiated by NADA on your behalf
• You can get up to $300,000 of Personal Accident Insurance coverage
• Optional spouse and dependent coverage is available

Economical Group Rates

The shared buying power of NADA makes it possible to offer this quality insurance program at an extremely competitive cost. Compare this program to the cost of similar private and manufacturer plans, and we know you will be pleased by our competitive rates.

Coverage continues as long as employer remains eligible, the required contributions are paid when due and the overall plan remains in effect. Dependents’ coverage ceases when employee’s does, or when they no longer qualify under the definition of spouse or dependent. Although it is the intention of both the policyholder and AIG Life Insurance Company to keep this policy in effect indefinitely, it may be terminated by either party.

Eligibility

The owners, partners, officers and full-time employees of factory-approved, new car or truck franchises which are are members of NADA are eligible to apply for this plan. All employees in the plan must be actively at work at least 20 hours per week or 1,000 hours per year for the dealership.

Covered participants may also obtain dependents coverage. Eligible dependents include spouses (unless legally separated) and unmarried children between the ages of 14 days and 20 years, including legally adopted, foster and step children who are dependent on you for support and maintenance. Coverage may be extended to age 25 for unmarried children who are enrolled as full-time students in an accredited college or university and who remain dependent on you. No one will be eligible as a dependent while covered as an employee or while in military service.

Benefits Schedule

If you or a covered family member are killed or injured as the result of an accident, payment will be made according to the following schedule:

LOSS OF: Life
BENEFIT: 100 percent of the insurance amount paid to beneficiary

LOSS OF: Both hands; both feet; sight in both eyes; one hand and one foot; one hand and the sight in one eye; or one foot and the sight in one eye
BENEFIT: 100 percent of the insurance amount paid to employee

LOSS OF: Speech and hearing
BENEFIT: 100 percent of the insurance amount paid to the employee

LOSS OF: One hand; one foot; or the sight in one eye
BENEFIT: 50 percent of the insurance amount paid to the employee

LOSS OF: Speech or hearing
BENEFIT: 50 percent of the insurance amount paid to the employee

LOSS OF: Thumb and forefinger of either hand
BENEFIT: 35 percent of the insurance amount paid to the employee

You and your employees select your own beneficiaries for death benefits. Benefits for other losses suffered by you or your covered dependents will be paid to you.

Valuable Disability Benefit

If you are totally disabled due to an accident, this policy will pay a monthly benefit of ¹/₁₀₀ of the amount of your insurance at the time of disability for 10 years, or until the end of your disability, whichever comes first. (This benefit is NOT available for dependents.)

In order to receive benefits, you must already be covered when injured, less than age 75, and become totally disabled within 30 days following the accident. Benefits begin after a 52-week qualifying period. Benefits begin if you are still totally disabled and have not already been entitled to benefits under this plan equal to 100 percent of your insurance.

These benefits are payable in addition to any other insurance you may be entitled to. If you should die while receiving monthly benefits, the remaining portion of the 100 payments will be paid to your beneficiary.

Exclusions

This policy does not cover any loss of life which results from activities involved in or related to the racing of automobiles on a professional or amateur basis. These activities include but are not limited to a) driving of such vehicles, b) servicing of such vehicles, and c) testing such vehicles in a formalized competitive venue or in an informal unstructured format. In addition, this policy does not cover any loss which results from operating any motor vehicle while intoxicated or under the influence of any narcotic, unless administered on the advice of a physician.

Also, this policy does not cover any loss that occurs more than 365 days after the accident, nor any loss resulting from war (including undeclared war and armed aggression), suicide or attempted suicide while sane, bodily or mental infirmity or disease, infection other than a pyrogenic infection of an accidental cut or wound, or travel in any moving aircraft unless a) the individual has no duties aboard the aircraft and is not giving or receiving training, and b) the aircraft is a civilian aircraft licensed to carry passengers, or its military equivalent, and piloted by a qualified licensed pilot or military equivalent.

For any one person, the total payment for all losses for any one accident will not be more than the full amount of insurance in effect at the time of the accident. Disability benefits will not begin until one year after the accident occurs.

A NADIT Insurance Plan from AIG

The National Automobile Dealers Insurance Trust’s Personal Accident Program is underwritten by the AIG Life Insurance Company. AIG is licensed in all states, with principal offices in Wilmington, Delaware. Policy Form PAI 8037598.

For simplicity, the Group Insurance Plan has been described in a rather general manner in this announcement. The benefits are described more fully in the individual certificates given to insured employees. The extent of their insurance for each individual is governed at all times by the complete terms of the master Group Insurance Policy issued by AIG. This policy is administered by the National Automotive Insurance and Service Agency, Inc. (NAISA)

EMPLOYER’S AGREEMENT TO PARTICIPATE AS A SUBSCRIBER IN THE NATIONAL AUTOMOBILE DEALERS INSURANCE TRUST, 8400 WESTPARK DRIVE, MCLEAN, VA 22102, (703) 821-7265.

According to the Provisions of the Agreement and Declaration of Trust, the National Automobile dealers Association (NADA) created the National Automobile Dealers Insurance Trust (NADIT), which shall be referred to in this document as the Trust. A Fund was also established forming the Trust estate. The employer’s payments for the insurance are credited to the Fund.

It is understood that the Agreement and Declaration of Trust provides:

• The purpose of the Trust is to maintain the Fund to provide life and accident insurance for employees of employers and the owners and/or representatives of the employers who are eligible under the terms of the group policies issued to the Trust. In addition, insurance may be provided through hone or more group policies issued by insurance carrier as determined by the Insurance Committee.
• The National Automotive Insurance and Service Agency, Inc. (NAISA) shall be administrator of the employer’s employee benefit plan with respect too this insurance within the meaning of the United States Employee Retirement Income Security Act of 1974 (ERISA) as then constituted or later amended.
• Each subscriber shall make payments to the Trust on dates and in amounts required for providing the insurance and administering the Trust.
• Each subscriber may require contributions from his insured employees toward the cost of this insurance only as permitted by the policy, rules, regulations and laws that apply. These contributions will be included in the Subscriber’s payments to the Fund.
• Each subscriber shall furnish to the NAISA all information required as necessary or advisable to properly administer the insurance.
• The Insurance Committee may amend the Agreement and Declaration of Trust at any time to such extent, as they deem necessary or advisable.

By enrolling in a group insurance plan under the terms of a group policy issued to the Trust, an eligible employer accepts this Agreement to Participate in Trust, and shall be enrolled as a Subscriber to the Trust. If the employer is not accepted for participation in the insurance, this Agreement to Participate in Trust shall be deemed invalid, and there shall be no further obligation by or to the employer.