To calculate your annualized premium:

Take the cost of your premium as of December 31, 2019.

Multiply that cost by your payment frequency (if you’re billed monthly, multiply by 12. If you’re billed quarterly, multiply by 4. If you’re billed annually, multiply by 1).

Then, take 15% of that number.

For example:

As of 12/31/19, a 25-year-old member who pays premiums quarterly in the amount of $154.88 for $1,475,000 of coverage.

$154.88 x 4 = $619.54

Total Premium of $619.51 x 15% premium refund = $92.93.

This 25-year-old member will receive a check in the amount of $92.93.