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TTc - April 2018 Newsletter

TTc was set up to provide a world-class insurance service for missionaries at a cost effective price. To help us in our efforts to continuously improve how we serve you please do communicate with us if there is ever anything that falls short of excellence in any of your interactions with us.

Renewal Meeting 2018

This March we had our latest renewal discussions with Aetna. Any changes listed in this newsletter will only affect policies that renew after April 30th 2018.

I am happy to report that the past 12 months have seen an improvement in our claims, which has helped us to keep our 2018 renewal increase down below medical inflation levels, and also make improvements to the policy benefits.

For Alpha policies that renew on or after May 1st 2018 the premium rates will go up by only 1%.

For Omega policies that renew on or after May 1st 2018 the premium rates will go up by 4%.

However, due to continuing high claims costs associated with US based claims from those spending significant time each year within the United States we will also need to increase the loading on Omega members who spend more than 6 months of the year within the United States from 50% to a 75% loading.
Policy Improvements

  • Following renewal Alpha members will have access to a new wellness benefit which will cover 50% of the cost of their routine wellness tests up to a total benefit of US$400. Claims made against this benefit will not affect a member's NCB.
  • The existing limit on physio-therapy treatment will increase from 20 sessions to an unlimited number so long as a member has a doctor's report stating that they are medically necessary after each 20 sessions.
  • The Out Patient Care benefit limit will rise from US$2,000 per insured year to US$5,000 per insured year.
Mercy Fund

As you may be aware when TTc was started in 1991 we set up our Mercy Fund. This was effectively a tithe of our income that was initially intended to be used to pay for claims costs that we felt should be covered, but fell outside of the scope of coverage of the policies. This has been one way that we have been able to elevate the level of service that we are able to give to our members, and be more than any normal insurance company. The Mercy Fund is of course a limited source, but please know that this is a resource that is available to you.

Talent Trust Gives Back

In 2018 TTc are launching a new initiative called Talent Trust Gives Back. Our aim for this initiative is to combat the ever upwards trend of rising insurance premiums. Over the past few years TTc has forgone a portion of its income to give back to missions. In 2018 we will continue this and each member will directly receive 3% of their previous year's annual premium applied to their renewal premium payment. From your renewal you will see this payment from TTc appearing on your statements. This is something that prudent stewardship of our resources and wise decisions has enabled us to do.

In addition I recently was given a vision to set up an investment fund that we will use a portion of its returns to further give back and pay for portions of our members' premiums. Initially all of the money for the investment fund will come from TTc, but in future we may also explore opening this to others who feel that they would like to benefit missions in the this way. It may be a few years before we see any tangible benefits, but my hope is that in time this will have a significant impact on reducing our member's premiums. I covet your prayers as TTc moves forward with this initiative.
Improvements to Group Discounts

TTc is improving the discounts available to new members joining from organisations with existing TTc members on our standard Alpha and Omega policies. Organisations with between 3 and 10 policies will receive a 20% discount for new members, and organisations with more than 10 policies will receive a 30% discount. In subsequent years the individual member's discount will go up and down in line with the No Claims Bonus Structure.

Referral Bonus

With the improvement in the group discounts it is good to remind you of our referral program. Most of TTc's members have come from member referrals so we set up our referral bonus - please remember that you will earn US$100 off your next premium for each friend you refer who joins either our Alpha or our Omega program, and your friend will also receive US$100 off their second year's premium. And better yet, there is no limit to how many referral bonuses you can earn. Click here for more information.
Thank you for continuing to be good stewards of these insurance programs so that we can continue to provide these services to many others serving around the world just like yourself. If you have any questions about any of the information contained in this update please do not hesitate to contact me or my team.

Blessings, Nathan Lyon
TTc ... serving alongside
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