Page 2 - ACT Benefits Enrollment Kit (2)

ACT Now! Help Protect You and Your Family with These Voluntary Insurance Products
Universal Life Insurance
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Do you or your spouse have a plan to fund home healthcare, assisted living or nursing home expenses?
Do you own a life insurance policy that is guaranteed to last to age 100? Is the face amount guaranteed not to decrease as you age? And does it have guaranteed level premiums as you age? Do you need additional bene ts for nal expenses, survivor bene ts or gifts to loved ones?
Based on your answers, now might be time to lock in your permanent1 lifeinsurance policy with the TransElite Universal Life Insurance Policy from Transamerica Life Insurance Company.
10 Year Term Life Insurance
If Something Happens to You,
Is Your Family Ready for Tomorrow?
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There is no way to know what will happen tomorrow, but there
is a way to help protect your family against the unexpected. Trans Select® 10 is Transamerica’s term life insurance product to help meet life’s changes — today and tomorrow.
Riders Included with Base Policy
• Accelerated Death Bene t for Terminal Illness • Accelerated Death Bene t for Critical Illness
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If you run out of vacation or leave days, will you have enough savings to make it? Would you want to borrow money from family or friends while you’re getting well? Obtaining Social Security disability bene ts can be challenging and time consuming. The ACT is making voluntary short-term disability income insurance available to you. You must satisfy the income requirements to qualify.
Waiting Period and Bene t Durations
Option 1 - 14 days after a sickness or accident, 6 month duration Option 2 - 30 days after a sickness or accident, 12 month duration
Option 3- 30 days after a sickness or accident, 24 month duration
Monthly Bene t:
An amount between $1,200 and $3,000 (in $100 incements), not to exceed 60% of your monthly income.
Short-Term Disability Income Insurance
How long could you go without a paycheck?
1 In using the term “permanent,” it is important to note that insurance could lapse prior to the maturity date based on the planned periodic premiums, guaranteed interest rate and guaranteed cost of insurance charges, or for non-payment of premium.
Special Information Regarding FERS Disability Retirement Bene ts
1) To Be Eligible for FERS Disability Retirement Bene ts Your Disability Must be Expected to Last at Least One Year.1
The ACT Disability Income Insurance Program has several plans to choose from to provide disability income bene ts upon approval of your claim.
2) New federal employees must wait until after 18 months of service to qualify for FERS disability retirement bene ts.1
With the ACT Disability Income Insurance Program, you are immediately eligible for coverage after becoming a member. Therefore, if you enrolled into the program and had a disability claim during the rst 18 months, you would be covered after claim approval.
3) What happens when you are only partially disabled but still can’t do your job?
In addition to other eligibility conditions for FERS total disability retirement bene ts, you must be unable to perform the critical or essential elements of your position. This means that if you are able to perform some, but not all, of the critical or essential elements of being a Technician, you may be ineligible for bene ts. Although each claim must be evaluated individually, in many instances, a claimant under the ACT Disability Income Insurance Program will be able to obtain disability income bene ts even if he or she is still able to perform some of the critical or essential elements of his or her position but not on a full time basis as the position requires.
4) FERS Disability Retirement Ben et Payments are Taxable.2
Any federal disability retirement bene ts are taxable income. The disability income bene ts provided by the ACT Disability Income insurance Program are not taxable to a member, which means a greater amount of income replacement for members when they need it the most.
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