At FaithLife Financial, we know that the death of both parents is a tragedy no child should ever have to face. Through the Orphan Benefit, we help to provide stability at this most difficult time.
What’s an Orphan Benefit?
To help ensure financial stability to a bereaved child, FaithLife Financial provides $500 a month to support juvenile members whose parent(s) have died too soon.
Is my child eligible?
This benefit* is available to FaithLife Financial members** whose child meets all of the following criteria:
- is orphaned by the death of their last surviving parent***
- is less than 19 years of age
- is a member of FaithLife Financial at the time of orphanhood**** OR one parent was a member at the time of their death
Please note: Retroactive benefit payments are limited to the six-month period prior to the date of approval of this application.
How do I apply?
Once you’ve made sure your child meets the eligibility requirements, simply print, complete, and mail the application form to FaithLife Financial.
When will my child stop receiving the Orphan Benefit?
Benefits will cease in the event your child:
- is no longer a member of FaithLife Financial
- is legally adopted by a new parent
- stops attending school for any reason other than being totally and continuously disabled
- gets married
- turns 19 years of age (with the exception noted below*****)
Questions? We’re happy to help.
Contact the Member Benefits team at: firstname.lastname@example.org
*FaithLife Financial’s member benefits and programs are not contractual. They are subject to change and maximum funding limits.
**Since February 23, 2021 membership has been extended to both the owner of a FaithLife Financial policy and the life insured when they are different parties.
***Parent shall mean only one of the following:
1. A natural (biological) parent of a minor member who has custody of the minor member
2. An adoptive parent of a minor member who has custody of the minor member
3. An individual who has established parentage of the minor member by a Court Order and has custody of the minor member
FaithLife Financial has the sole right to define and determine parent status and any interpretation of this definition made by FaithLife Financial is final.
****If at the time of orphanhood, the applicant is less than 60 days of age and is not a member of FaithLife Financial, the applicant is eligible for the Orphan Benefit if they become a member before their first birthday.
*****If an applicant reaches 19 years of age and is enrolled in full-time studies at an accredited secondary school or post-secondary institution on that date; and none of the events resulting in benefit cessation have occurred, the applicant may apply for a continuation of the Orphan Benefit and, if eligible (as determined by FaithLife Financial), the monthly benefit will continue to be paid until the earlier of: (i) the applicant’s 23rd birthday; or (ii) the applicant receiving a diploma or degree from a post-secondary institution; or (iii) any of the events resulting in benefit cessation occurs; or (iv) the applicant ceases to be enrolled in full-time studies at an accredited secondary school or post-secondary institution. To apply for extended benefits, please speak with your advisor to request form #505A.
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