Life, Long Term Disability (LTD) and Accidental Death and Dismemberment (AD&D) Plans
Group Term Life Insurance |
---|
Basic Life |
Supplemental Life |
Dependent Life |
Plan Documents |
---|---|---|---|
Life Insurance Plan HighlightsEmployee life and accidental death and dismemberment benefits are provided by Cigna (Life Insurance Company of North America).
Beneficiary Designations If you have a life event, be sure to check your assigned beneficiaries for basic and supplemental life coverage. In the event of a claim the insurance carrier will provide benefits to whoever is listed on your most recent enrollment/change form. If you are unsure who your beneficiary is contact Sarah Arnold. Life & AD&D Policy Numbers
Age Based Reductions When you are age 65 or older, your Life Insurance Benefit (Basic and Supplemental) will reduce to the percentage shown below: 67% of the Benefit at age 65 45% of the Benefit at age 70 30% of the Benefit at age 75 20% of the Benefit at age 80 This reduction happens immediately after your birthday when you turn one of the qualifying ages. |
Supplemental Life Insurance
In addition to the Basic Life Insurance coverage provided by AUI/NRAO, supplemental life insurance coverage is also offered.
Guaranteed Issue
Premiums Premiums are post-tax and 100% employee funded. Rates are based on your age on January 1st of the current year. If you have a tier change during the calendar year, it will go into affect on January 1st of the next year. Monthly Rates are based on units of $1,000. Under Age 25 $.050 Age 25 – 29 $.053 Age 30 - 34 $.050 Age 35 - 39 $.070 Age 40 - 44 $.100 Age 45 - 49 $.150 Age 50 - 54 $.230 Age 55 - 59 $.417 Age 60 - 64 $.598 Age 65 - 69 $1.190 Age 70 and over $2.060 |
Spouse and Child CoverageEmployees may elect life insurance coverage for their spouse and children. Spouse Coverage You may choose coverage for your spouse up to 50% of the value of your own supplemental coverage, in increments of $5,000. You cannot elect spouse coverage if you do not have your own supplemental life. Spouse coverage is guaranteed issue to the first $30,000. Any coverage requested above that amount requires medical underwriting. Spouse Insurance Premiums Premiums are post-tax and 100% employee funded. Rates are based on your spouse's age on January 1st of the current year. If you have a tier change during the calendar year, it will go into affect on January 1st of the next year. Monthly Rates are based on units of $1,000. Under Age 25 $.050 Age 25 – 29 $.053 Age 30 - 34 $.050 Age 35 - 39 $.070 Age 40 - 44 $.100 Age 45 - 49 $.150 Age 50 - 54 $.230 Age 55 - 59 $.417 Age 60 - 64 $.598 Age 65 - 69 $1.190 Age 70 and over Not available. Child Insurance Coverage for dependent children is always guaranteed issue. Effective April 1, 2017: Children can be covered to age 26 regardless of student status. Coverage is available in increments of $2,000 up to $10,000. Premium $.20 Per $1,000 |
Enrollment and Changes
To elect supplemental life insurance or to change your beneficiaries complete the form below and return to human resources at benefitforms@nrao.edu. Enrollment/Change form
Plan Documents (Life & LTD)
Life Evidence of Coverage
|
Long-Term Disability (LTD) Insurance |
---|
Plan Info |
Premiums |
Claims & Benefits |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTD Plan HighlightsLong-term disability (LTD) insurance provides income protection if you become disabled from an accident or illness for longer than six months of time. Long-term disability is often confused with long-term care insurance. Long-term care provides coverage for you or your family members if you need skilled home care, or are admitted to a nursing home. As an AUI employee, you are enrolled in an LTD insurance plan automatically if you are age 30 or older. You may not opt out of LTD coverage. Employees under 30 can voluntarily elect at any time prior to their 30th birthday. If you are approved, the monthly benefit payments provided are equal to 60% of your basic monthly earnings less any benefits received fromLong term disability benefits are provided by Cigna (Life Insurance Company of North America). LTD Policy Numbers
LTD Evidence of Coverage (SPD) |
Premiums - UPDATE FOR 2017Premiums in 2017 will increase 62% over 2016. Our LTD plan is experience rated. During the past three years of our services contract we experienced a significant increase in LTD claims costs. A competitive bid process was conducted in the second half of 2016, resulting in only one bidder, Cigna. Examples of the impact of this change at various salary levels is given below. Employee premium rates for individuals under age 65 increase from $0.185 to $0.30 per $100 of covered salary. Premium rates for employees over 65 increase from $0.098 to $0.161 per $100 of covered salary. Monthly Examples (under 65)
Bimonthly Examples (under 65)
Monthly Example (65 and over)
Bimonthly Example (65 and over)
|
File a ClaimIf you believe you are eligible for LTD please contact your local HR representative about your FMLA rights and how to proceed. Claim Forms ![]() 7:00am–7:00pm CST Monday–Friday
Fax or mail: Mail or fax both the completed and signed disability claim form, the physician's statement, and any requested documentation available through Cigna's website to: LTD Benefits Payment & InfoIf you are approved for LTD Cigna will provide 60% of your annualized salary per month in income. This income is not taxed due to the premiums being paid on a post-tax basis, 100% by the employee. In addition, Cigna will make a retirement contribution to your 401a account on your behalf each month. Approved LTD participants can continue to carry AUI medical, dental and vision insurance at their active employee rate. Life insurance continuation is dependent on approval by Cigna. Life insurance conversion options are available. |