Life Insurance
Basic Term Life Insurance
UWA provides each employee with a Basic Term Life and AD&D policy through Guardian at no cost to you. You are provided with 100% of your salary up to $50,000.
Basic Term Life Insurance
| Employee Benefit Amount | 100% of salary to maximum of $50K |
| Employee AD&D | 100% of life benefit to maximum of $50K |
| Accelerated Life | 75% of death benefit; Min: $10K – Max: $250K |
Voluntary Term Life Insurance
UWA employees can supplement their company-paid Basic Life insurance by purchasing additional coverage through Guardian. In addition, you may purchase coverage for a spouse and child(ren) after electing coverage for yourself.
Voluntary Term Life Insurance
| Employee Benefit Amount | $10K – $500K in $10K increments |
| Spouse Benefit Amount | $5K – $250K in $5K increments (Not to exceed 50% of employee’s coverage) |
| Child Benefit Amount | $10K (Not to exceed 50% of employee’s coverage) |
| Coverage Reductions | 35% by age 65 & 50% by age 70 |
| AD&D Benefit Amount Employee, Spouse, & Child | 100% of life benefit up to $500K |
Whole Life Insurance
You can’t predict your family’s future, but you can be prepared for it. Would your family have the income they need if something happened to you? It is important to make sure your family is financially protected. Gain peace of mind with the whole life insurance from Mass Mutual.
ADVANTAGES OF WHOLE LIFE INSURANCE:
Provides Guarantees:
Guaranteed death benefit
Guaranteed level premiums
Guaranteed cash-value accumulation
Dividend Eligible
You would be eligible to receive dividends. During enrollment, you can select certain dividend options: Cash, Dividend Accumulations, and/or Paid-Up Additional Insurance.
Portable, Lifelong Coverage
Employees fully own the certificate along with the accumulated cash values, they can take it with them even if they leave the company, and they can choose to change their dividend option.
Tax Advantages
Generally income-tax-free death benefit & Tax-deferred cash-value growth
Accelerated Death Benefit Provisions
Critical & Terminal Illness Benefit Provisions; these benefits allow access to more funds than would be available through a certificate loan or certificate cash surrender value.
Teachers’ Retirement System of Alabama (TRS) Group Term Life Insurance
Active employees contributing to the Teachers’ Retirement System of Alabama and who have completed one year of service are covered under the system’s Pre-Retirement Death Benefit (PRDP) and Term Life Insurance (TLI) plan.
Active employees contributing to TRS of Alabama with less than one year of service have death benefits equal to the member’s salary at the time of death if the cause of death is job-related.
Pre-Retirement Death Benefit- one times annual salary plus a $15,000 Term Life Insurance for full-time employees.
This coverage does not require employee premium contributions. For more information, please refer to the TRS Member Handbook.
Disability Insurance
Whether you are disabled and unable to work due to an accident or illness, UWA offers Short and Long-Term Disability benefits through Guardian. Disability is insurance for your paycheck should you become disabled due to an off-the-job injury or illness. This coverage will provide a percentage of your salary once you satisfy the waiting period. Guardian will have to approve your disability claim before there is a payout. If there are any issues, please contact Human Resources.
Voluntary Short-Term Disability
Guardian’s Short-Term Disability benefit pays 60% of your weekly pre-disability earnings to a maximum of $2,000 per week beginning on the 8th day up to 13 weeks or until you no longer meet the definition of disability, whichever comes first.
Short-Term Disability
| Weekly Benefit | 60% of your salary up to $2,000/ week |
| Benefit Waiting Period | Begins on the 8th day for Illness/Injury |
| Benefit Duration | 13 weeks |
Employer Paid Long-Term Disability
UWA provides Guardian’s Long-Term disability benefit at no cost to you. This benefit pays 66.7% of your monthly pre-disability earnings to a maximum of $10,000 per month until you no longer meet the definition of disability or reach the Social Security Normal Retirement Age (SSNRA) after a 3-month waiting period.
Long-Term Disability
| Monthly Benefit | 66.7% of your salary up to $10,000/ month |
| Benefit Waiting Period | Begins on the 91st day (3 months) for Illness Injury |
| Benefit Duration | Until Social Security Normal Retirement Age (SSNRA) |
Additional Coverages
All eligible full-time employees also have the option to add at their cost the following benefits:
Voluntary Accident Insurance
Accident Insurance is an extra layer of protection that gives you a cash payment to help cover out-of-pocket expenses when you suffer an unexpected, qualifying accident. This benefit covers more than 40 different circumstances!
Examples of Accident Coverage & Cash Payments
| Ambulance | $300 | ER Treatment | $250 | PTSD | $500 |
| Chiropractic Visits | $50 per visit, up to 6 visits | Hospital Admission | $1,500 | Rehab Confinement | $150/day up to 15 days |
| Concussions | $300 | Hospital ICU Admission | $3,000 | X-Ray | $50 |
Monthly Premiums
| Individual | $16.94 | Employee + Child(ren) | $27.53 |
| Employee + Spuse | $26.60 | Family | $37.19 |
Voluntary Critical Illness Insurance
Critical Illness Insurance provides extra financial protection to keep you from digging into your savings or other monetary resources in the event you experience a designated critical illness.
Examples of Covered Critical Illness
- Cancer & benign tumors
- Major organ failure
- Childhood illness & disorders
- Heart attack/failure
- Loss of hearing/sight/speech
- Coma
- Stroke
- Alzheimer’s disease
- Severe burns
Employee Monthly Premiums
| EE Benefit Amounts | Age: < 30 | 30-39 | 40-49 | 50-59 | 60-69 | 70+ |
| $10,000 | $5.40 | $9.20 | $18.40 | $34.80 | $57.00 | $94.10 |
| $20,000 | $10.80 | $18.40 | $36.80 | $69.60 | $114.00 | $188.20 |