New to the public service - Benefits The group insurance benefits plans provide you, as a member, with peace of mind today and for years to come. The following information is intended to provide you with an understanding of your group insurance benefit options. You may want to know… What group insurance benefits are available to you? The following group insurance benefit plans may be available to you: What is the Public Service Health Care Plan? The Public Service Health Care Plan (PSHCP) is an optional health care plan for federal public service employees and their dependants. It is designed to supplement provincial health insurance plans. The PSHCP provides: Supplementary Coverage which...
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Whether you’re heading to a new gig, you’re becoming self-employed or you’ve been laid off, when the time comes to leave, it’s important to know what your options are regarding your benefits. Robin Solomon, a benefits attorney in Washington, D.C., believes that the large amount of information most employees deal with when leaving a job can make the benefits process confusing and leaves many people without a clear understanding of the options available. “When people leave a job,” she said, “they have to make decisions about their old benefits, as well as learn about any new benefits offered by the next employer.” Carol Katarsky, who left her job as an editor in 2014 to become a freelance...
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Recently, however, this strategy has become more easily employed: Premiums for policies have fallen, while underwriters are offering higher guaranteed issue limits (the amount of coverage they’ll accept without medical review). All of which means that now is an especially good time to explore ways to make your organization’s executive benefit package more appealing in order to attract, retain and reward key employees. Here’s a quick primer to some of the most significant plans offering executive level coverage: Executive Long-Term Disability Insurance These plans are designed to offer senior executives more coverage than what’s provided by traditional group disability plans, which are...
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Dave's Thoughts on Supplemental Insurance Does Dave think supplemental insurance is a good or bad idea? QUESTION: Michelle on Twitter wants to know what Dave thinks about supplemental insurance like Aflac. ANSWER: Some supplemental insurance is good, but most of it is not. I don't believe in cancer insurance because your health insurance covers that. I don't believe in short-term disability insurance. You shouldn't pay for that; you should have an emergency fund built up to cover short-term disability. You should do long-term disability insurance. You should not do accidental death because you are not double-dead if you die by accident. Your family needs the same amount of money...
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Lose the life insurance when you quit a job? What happens to life insurance policies from previous jobs after you’ve left those employers? Group life insurance is a nice fringe benefit that many employers provide their employees. Typically, businesses pay for a base amount of coverage (such as one year’s salary) and give the employees the option to buy more out of their own pockets if they medically qualify. So, what happens to the life insurance when you leave the job? In most cases, you, the employee, will lose the coverage. It stays behind with the job. That’s why, for most people in good health, I advise against buying more of an employer’s life insurance than the free amount. You can...
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Life insurance and Accidental Death and Dismemberment (AD&D) insurance help provide financial protection in the event of your death or that or a spouse or dependent. Through The Standard, Tulane University offers you a comprehensive life insurance program, including both employer paid plans and voluntary employee paid plans from which you can choose. Tulane provides a Basic Term Life Insurance policy in an amount equal to 1.5X your annual salary up to a maximum of $50,000 for you and a Basic Dependent Life Insurance policy in the amount of $2,000 for your spouse and each dependent child paid by Tulane. You may also choose to purchase additional Supplemental Life and Accidental Death and...
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UNUM insurance (NUHW) Life insurance Life insurance pays a pre-determined amount to your beneficiaries in the event of your death. The life insurance available through USC is term life insurance, which means you have the insurance during the time that premiums are paid. For employees represented by NUHW, USC pays for a basic amount of life insurance with the company Unum, and you may purchase additional insurance for both yourself and your eligible dependents. Employees must complete the UNUM beneficiary designation form. USC pays the entire cost of basic term life insurance for full-time employees (at least 32 hours a week) equal to your annual base pay, up to a maximum of $50,000. The...
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Life Insurance Resource Center Optional Riders/Supplemental Benefits At the time you purchase a life insurance policy certain supplemental benefits are available to you. Usually the addition of a rider is reflected in an additional charge by the company and may require that the insured provide evidence of insurability. Some of the more important riders to add are: Waiver of Premium Waiver of premium provides that your policy will be kept in force by the company, without further payment of premiums, if you become totally disabled before age 60 or 65, after an initial waiting period. Total disability will be defined by the terms of the rider. Premiums are waived as long as your disability...
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Insurance Benefits Employer-Paid or Employer-Subsidized Benefits Health Insurance Options The Arizona Department of Administration (ADOA) Benefit Options provides health insurance options for University employees, their spouses, and their dependents. Medical and dental insurance is employer subsidized; vision insurance is completely employee-paid through payroll deduction. The ADOA does not offer coverage for domestic partners. UA employees may enroll their domestic partner and their partner’s dependents in the University of Arizona Alternative Plans for health insurance coverage. The ADOA benefit options and the UA Alternative Plan meet the requirements of the Patient Protection and...
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An employee’s loved ones depend on them. With Life and Accidental Death and Dismemberment (AD&D) Insurance, you can help them prepare for the unexpected, and give them the confidence to live life to its fullest knowing their loved ones will be protected. An employee is best protected when they have access to both Life and AD&D coverage. Protect Against the Unthinkable If there’s need for a claim, an employee or their beneficiaries will receive personal service from a compassionate LifeMap claims analyst during the process. All Life Insurance coverage also comes with access to our Travel Assistance and Beneficiary Assistance Program to provide support in their time of need. Basic...
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