To calculate your annualized premium:

  1. Take the cost of your premium as of December 31, 2020.
  2. 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;
  3. Then, take 10% of that number.

For example:

As of 12/31/20, 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 10% premium refund = $61.95.

This 25-year-old member will receive a check in the amount of $61.95.