"Each Other's Keeper"

Orphan's Income Benefit & Scholarship Program

Orphan's Income Benefit

For a child to be eligible, one or both of his or her parents must have been a member in good standing at the time of death with an individual program premium paying or paid-up insurance with PFIA. Furthermore, the last surviving parent must have been a member or associate member at the time of death. Orphans who have their own individual programs of premium paying or paid-up insurance with the Association are eligible as well. These eligible orphans are further defined as those whose parents were both living on the issue date of the qualifying insurance plan or plans. This includes legally adopted children, but excludes stepchildren, foster children and children born out of wedlock.

The benefit amount for the care, maintenance and education of the child, is not to exceed the following schedule:

Age through five years - $150.00

Age six through 13 years - $200.00

Age 14 through 18 years - $300.00

A properly completed application for this benefit must be accompanied by the birth certificate of the child, death certificates of both parents and any court orders pertinent to the claim (adoption papers, appointment of guardianship). At its sole discretion, the Board of Directors may require other documents in support of the application for benefits.

Monthly income will cease when the child attains age 19, marries, becomes self-supporting, or qualifies and begins receiving a grant under the Orphan’s Scholarship Program. If the child submits satisfactory evidence of permanent physical or mental handicap, the benefit will be extended to age 21, at the discretion of the Board of Directors.

Any insurance on the life of the child will automatically have premiums waived until the certificate anniversary nearest the child’s 21st birthday, the certificates’ prior maturity, or legal adoption.

The monthly benefit may be paid to the orphan, his or her legal guardian, or other adult who has legal custody. Benefits may begin on the first day of the month following the death of the last surviving parent, but in the case of a delayed application, benefits may begin on the first day of the month following approval of the Board of Directors. In no event will benefits be paid retroactively.

Orphan’s Scholarship Program

PFIA believes orphaned children of members deserve the same opportunity for advanced education their parents might have provided, had they lived, and has established a scholarship program independent of that for children of living members. The same definition of orphan applies for the scholarship program as for the Orphan’s Income Benefit.

To qualify for a grant of up to $4,000 per year ($16,000 in the aggregate) under this program, the orphaned child must be enrolled or accepted for enrollment in a two- or four-year program in an accredited college, university or vocational school. He/she must be a full-time student as defined by the institution, and must demonstrate academic progress satisfactory to the Board of Directors.

The annual grant may be divided and paid in installments according to the system of academic terms of the school. The scholarship will cease if the student completes the course of study or fails to enroll as a full-time student.

A child who becomes an orphan after the age of 19, but prior to age 24, and who otherwise meets all the eligibility requirements may qualify for a scholarship grant provided he or she is already a full-time

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