BSNC Announces Bereavement Assistance Increase to $2,500

The Bering Straits Native Corporation (BSNC) Board of Directors has voted to increase bereavement benefits from $1,500 to $2,500. Bereavement assistance helps defray the cost of funeral expenses for an original BSNC shareholder, a lineal descendent of an original BSNC shareholder, or the spouse of a living original BSNC shareholder.

“We recognize that families have many burdens when a loved one dies,” said BSNC Board Chairman Henry Ivanoff. “We are hopeful that the assistance BSNC provides helps alleviate some of the financial burdens.”

The new bereavement payment is effective for applications received on or after Jan. 23, 2019 for those individuals covered by the bereavement policy. The deadline for filing for bereavement assistance is within three months of the date of death. Bereavement assistance may be applied for by a surviving family member either in the Nome or Anchorage office.

A note about Stock Wills: Some people find it easy to think about wills, while others prefer to avoid the subject entirely. Having a Stock Will on file with BSNC lets you decide who will inherit your stock after your death. If you pass away without a Stock Will, your stock will be distributed according to state law, and may be distributed to individuals you do not intend to benefit. To encourage shareholders to complete their Stock Wills, BSNC continues to hold monthly drawings for those shareholders who submit a Stock Will, with a prize of $200. Visit beringstraits.com/shareholders/forms/ or call (907) 443-5252 to update your stock will today.

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