Page 2 - Teamsters Local 492 Sample Enrollment Kit

Help Protect You and Your Family with These Voluntary Insurance Products
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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 Teamsters are 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.
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
Top Reasons to Consider the Local 492 Short-Term Disability Income Insurance Program
1) The Short-Term Disability Income Insurance Program pays up to additional $1,250 per week, if you qualify.
During a short-term disability due to a sick or off-the-job injury, the Health & Welfare plan will pay $250 per week for up to 6 months. Please note, this is a taxable bene t. Could you live comfortably on $250 per week?
2) Bene ts start just after 14 days due to an accident or sickness.
There is a 180 day elimination period before UPS’ long-term disability income insurance policy starts to replace income. With the (Local Name) Short-Term Disability Income Insurance Program, bene ts begin after 14 days and continue for 180 days. This will help supplement the Health & Welfare Plan short-term disability bene t.
3) Income Replacement Bene ts are NOT Taxable1
The disability income bene ts provided by the Local 492 Short-Term Disability Income Insurance are not taxable to a member, which means a greater amount of income replacement for members when they need it most.
4) Guaranteed Issue
As a member, you cannot be denied coverage, unless you are currently off-the-job. Members can elect up to $750 per week in income protection without answering any medical questions. If you qualify for higher amounts, just a few questions will be asked and you may qualify for up to $1,250 per week.
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