Life Insurance:
The College provides a core benefit of one times your annual salary. You can purchase an additional 1, 2, or 3 times salary as a supplement to your one times salary coverage. Supplemental Life Insurance is subject to medical underwriting. The cost of the Supplemental Life Insurance is based upon your age. The cost is paid on a pre tax basis. Amounts of Life Insurance in excess of $50,000 have been given an "earned income" value according to tax law tables and will result in additional taxable income depending upon amount of insurance and age.
Rate information is contained in the Instructions for Completing Union Flex Benefit Application section. A full explanation of the Supplemental Life Insurance Plan is contained in the Summary Plan Description available from the Human Resources Office.
Supplemental Accidental Death and Dismemberment Insurance:
The College provides a core benefit of one times your annual salary. You can purchase additional Accidental Death and Dismemberment coverage in increments of $10,000 to a maximum of $300,000. Accidental Death and Dismemberment Insurance is subject to medical underwriting.
The cost of the Supplemental Accidental Death and Dismemberment Insurance is paid on a pre tax basis.
Rate information is contained in the Instructions for Completing Union Flex Benefit Application section. A full explanation of the Accidental Death and Dismemberment Insurance is contained in the Supplemental Life Insurance Summary Plan Description available from the Human Resources Office.
Long Term Disability Insurance:
The College provides a core long term disability benefit of 40% of salary. You can purchase an additional 26% of salary to increase your total LTD benefit to 66% of salary. The maximum benefit is $8,500 per month.
The cost of the Supplemental LTD is paid through a post tax payroll deduction. Rate information is contained in the Instructions for Completing Union Flex Benefit Application section and a full explanation of the Supplemental Long Term Disability Insurance is contained in the Summary Plan Description available from the Human Resources Office.
Dependent Life Insurance:
You can select two levels of life insurance for your spouse and children. You pay the premium on the policies through a post tax payroll deduction. You may select a spouse benefit of $25,000 and children's benefit of $4,000 for each child or a spouse benefit of $5,000 and children's benefit of $2,000 for each child (Spouses dependent life insurance may not exceed employee´s total life insurance through Union).
Applications and Plan details are available from the Human Resources Office.
Auto, Home, Renters and Other Personal Insurance:
You may purchase auto, home, renters and other personal insurance and pay premiums through a post tax payroll deduction. You may enroll at any time and cancel your current policy without penalty. Through an arrangement with the Merriam Insurance Agency or Liberty Mutual Group, you will not have to pay interest or finance charges. You will be able to receive a free quotation on coverage and premiums by contacting The Merriam Insurance Agency (more information) at 376 Broadway, Schenectady, N.Y. 12305. Telephone 393-2109 or Peter Flood, at Liberty Mutual Group (more Information), 14 Corporate Drive, Clifton Park, NY 12065, Telephone (518) 371-2486 ext 53975.
Long Term Care Insurance:
If an accident or illness suddenly left you unable to care for yourself, do you have family or friends who would be available and willing to help out? People of all ages become ill or injured in a fashion that requires ongoing care. Long-Term Care insurance assures that you can afford the care you need in your home, assisted living/adult day care facility or nursing home.
Union College offers two Long-Term Care insurance plans. Plans are available through National Corporate Benefits Administrators and CNA. Brochures from both plans are included in your benefits package. Contact either plan for a price quote and take the opportunity to protect your well being for the future.
