Do members have to designate a beneficiary? – Please click on the drop-down arrow
• Members are required to designate a next of kin at the time of registration.
Do members have to designate a beneficiary?
• Members are required to designate a next of kin at the time of registration.
• The next of kin may not be a registered member.
How will YANAC raise the benefit amount?
• The amount to be paid will be divided across the total number of YANAC members.
What is the procedure to report a death? ?
• Upon the occurrence of a member’s death, the representative or anyone should notify the YANAC management team through the online notification system or by any means deemed appropriate.
• An official announcement will go live.
• A call for contributions will be made after review and validation by the YANAC board of directors.
What is the death reporting procedure?
Upon the occurrence of a member’s death, the representative or anyone should notify the YANAC board through the online notification system or by any means deemed appropriate.
When do members send in their contributions?
• When a member passed away, an official announcement will go live and
After the review of a member’s dead and validated by the YANAC management team, a call for contributions will then be made
What happen if a member default or failed their bereavement contribution?
i. If a member does not pay their contributions within the designated timeframe from the date of the announcement, a late penalty fee of €25 per day and up to a maximum of €175 will apply automatically after the due date plus the normal contribution amount.
ii. Any member accumulating up to €175 (a week fine) of late penalty fees will lose their membership.
iii. In order to regain membership, the applicant will start all over again by going through the registration and vetting process. The accrued fine, including the owed bereavement contribution amount plus the new registration fee, must all be paid before re-admission.
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