Payment of Insurance Premiums
Relief associations have authority to use special fund assets to pay for casualty insurance premiums to the Volunteer Firefighters’ Benefit Association or to an insurance company licensed by the State of Minnesota offering casualty insurance. This statutory authority allows a relief association to obtain insurance for its membership that will provide coverage should a member become injured, disabled, or deceased. These insurance policies can be provided as an alternative to offering disability benefits through the relief association or can be provided in conjunction with a relief association’s ancillary benefit program.
Published last in the September 2014 Pension Newsletter