LCBA - Life Insurance with a Conscience

Overview

We hope it will never happen, but if your child¹ is orphaned, he or she will need financial support. LCBA's Orphan Benefit includes a monthly income program to help take care of your child as he or she grows:

Monthly income of $100 will be paid to a qualified guardian for each eligible child for care, maintenance, and education.
The total maximum income for one family is $50,000; if the maximum would be exceeded before the youngest attains age 19, the monthly benefit may be adjusted accordingly by the Association.
One allowance is paid for each child, regardless of the number of certificates on the lives of the parents or child.
Income continues until age 18 and may be extended to age 21 if the child is permanently disabled, physically or mentally.

The monthly income program pays the premiums on an existing LCBA certificate until your orphaned child either:

reaches age nineteen
marries
enters military service
is legally adopted
receives Orphan’s Scholarship Benefit

Scholarship Benefit

Education is so important for our children in today's world. With the help of LCBA's Orphan Scholarship your child will:

receive $1,800 per year for each child
be able to enroll in a four-year or two-year accredited college, university, technical or vocational program which must lead to a bachelor or associate degree
receive a maximum benefit of $7,200 for a four-year program or $3,600 for a two-year program

Scholarship benefit will cease if

child does not maintain scholastic achievement and personal standards set by the educational institution
child receives a full scholarship or Military Academy scholarship

Eligibility Requirements

A child is eligible for the Orphan Benefit if both parents are deceased and one of them was insured² or if a single insured parent dies and had sole legal custody of the child. The other parent must be deceased or not legally responsible to provide financial support. If a single parent remarries, he or she will be considered a “single” parent unless the new spouse adopts the child. Children of the new union would be subject to the two parent family eligibility requirements.

General Guidelines

The Board of National Trustees of the Loyal Christian Benefit Association hereby establishes the following rules and regulations incident to granting the Orphans Fraternal Benefit.

The eligibility of any applicant and/or the amount of any benefit shall be determined by the LCBA Board of National Trustees.
No benefit will be granted except from and after receipt of an application completed and signed by the duly appointed guardian of the child(ren). The application shall be in such form as the Board of National Trustees may prescribe from time to time and must be submitted within six months of the parental death.
No representation or undertaking given by any officer, employee or representative of the Association to the granting or the amount of the benefit shall in any manner be binding on the Association.
The Board of National Trustees shall have full authority to determine the manner in which all administrative acts required by these rules are to be carried out.
The Association reserves the right to change and/or modify from time to time any provision pertaining to such benefit. While the Association does not anticipate such change or modification, the benefit cannot be guaranteed.

1 Child or children includes biological and legally adopted.
2 Insured means the parent was or the child is a benefit member of the LCBA, with $10,000 or more permanent life insurance or an annuity certificate with an account value of $5,000 at the time of death. The annuity or life insurance certificate must have been issued at least two years prior; except in the case of accidental death of the parent.