Supplemental Life and Long-Term Care Insurance
Eligible WPI employees are able to acquire optional supplemental life insurance in addition to the amount provided as a regular benefit. The university also offers optional long-term care insurance for employees and their eligible family members.
Supplemental Life Insurance
Employees working at least 800 hours per fiscal year are eligible to purchase Voluntary Supplemental Life Insurance. All employees are eligible for guarantee issue supplemental life insurance and AD&D insurance if they enroll during their specific enrollment period. "Guarantee issue" is defined as the option to purchase insurance without answering proof of good health questions. There is a guarantee maximum of $200,000 for supplemental employee life insurance; and a guarantee maximum of $30,000 for supplemental spouse life insurance.
Employees beyond the initial eligibility period may purchase coverage, the insurance carrier will require additional documentation, including a statement of medical health and the carrier may deny coverage.
The value of the supplemental life insurance can be up to five times your annual salary, up to a maximum of $500,000, whichever comes first. Supplemental life insurance is also offered to spouses/domestic partners and dependent children. Spouses/domestic partners are eligible for up to half of what an employee purchases for coverage; evidence of insurability may be required. This is a voluntary benefit and the total cost is an employee payroll deduction.
Long-Term Care Insurance
Employees working at least 800 hours per fiscal year are eligible to purchase Long-Term Care insurance for themselves and eligible family members. The Long-Term Care insurance offered is flexible, allowing employees to purchase a plan that works for them.
Long-Term Care is the type of care received at either a home or a facility, when assistance is needed with the activities of daily living (bathing, dressing, toileting, transferring, continence and eating), or suffers severe cognitive impairment (such as Alzheimer’s disease).
Employees are eligible for coverage. This is an individual and personalized benefit, the premium is paid by the employee through a payroll deduction. Employees are eligible for a guarantee issue upon their initial eligibility, up to a certain maximum set by the insurance carriers. Coverage after the initial eligibility and beyond the insurance carrier’s maximums will require additional medical documentation. All coverage eligibility is determined by the insurance carrier.
Although coverage is provided by UNUM, WPI contracts with LTC Solutions to provide non-biased information and guidance. LTC Solutions can be contact by calling their customer service line at (877) 286-2852 or by e-mailing info@ltc-solutions.com.