THIS MONTH'S STORY: WORKPLACE INSURANCE PRODUCTS
Short Term Disability Insurance
Short Term Disability Insurance1 provides a benefit if you become sick or hurt and unable to work so that you can still afford to pay your bills while you recover.
By purchasing short term disability insurance through your workplace, you benefit from liberalized underwriting techniques and are not required to have a medical exam.
Premiums are payroll deducted, so you don't have to worry about receiving an extra bill each month. And, because you own the policy, the coverage is portable, so you can take it with you if you leave your job.
How does it work?
If you become sick or hurt and unable to work, short term disability insurance begins paying benefits, depending on the terms of your contract. This benefit is a portion of what your typical paycheck would be (up to 60%), and can be used to pay bills, buy groceries and fund other necessary expenses while you recover. Depending on your policy, benefits will be paid for 3 months to 60 months2 with a wide selection of accident and sickness elimination periods, giving you time to focus on getting better instead of worrying about how to make ends meet.
Plus, with Short Term Disability through your workplace, our waiver of premium is included at no additional cost. This means that if the insured is disabled for longer than 90 days, Illinois Mutual will waive premium payments until recovery or the end of the benefit period.
Illinois Mutual's STD is simple, easy to understand, affordable coverage that protects you from the unpredictable.
Benefits
- Affordable, flexible coverage designed to fit your budget and personal needs
- Liberalized underwriting makes it easy for you to obtain coverage
- Convenient payroll deduction of premiums
- You can take your policy with you if you switch jobs
- Guaranteed renewable until age 72
- Benefits paid are not reduced by benefits received from Social Security or Worker's Comp
- Peace of mind - You have income coming in if you are disabled
Who's Eligible?
- Employees age 17 to 64 who are actively at work for a minimum of 20 hours per week.
1 May not be available in all states.
2 Subject to eligibility guidelines.
ACCIDENT INSURANCE
Accident Insurance1 offers 24-hour or Off-the-Job coverage for accidents, injuries and accidental death for eligible employees and family members.
While most people carry medical insurance to pay the hospital, the injured party is still financially affected as they are faced with paying deductibles, co-payments and other out-of-pocket expenses. In addition, even if you carry disability insurance, many injuries are not serious enough to receive a disability benefit.
Accident Insurance covers you where medical and disability insurance coverage can't.
How does it work?
After an accident or injury, Accident Insurance pays a cash benefit directly to the injured party, so that you don't have to suffer financially when you are already suffering physically. There is no coordination of benefits for existing plans, which means the plan pays regardless of other coverage. Your premiums are paid through payroll deduction, and you retain full ownership of the policy. Even if you leave your current job, the coverage is portable, so you can take it with you when you leave.
Benefits
- Affordable premiums
- No medical exams
- Convenient payroll deduction
- Portable coverage
- Fast claims service
- Guaranteed renewable
Optional Benefits2
Off Job Accident Disability Rider
can provide additional coverage if an accident leaves you unable to earn a paycheck.Sickness Hospital Confinement Rider
can provide additional coverage if an illness leaves you or anyone else covered by the rider confined to a hospital.Wellness Benefit Rider
the benefits you receive will help pay for the cost of expensive medical and health screening tests that are sometimes necessary to prevent or detect health challenges.Catastrophic Accident Rider
the benefits you receive will help ensure your family has the funds necessary to make adjustments in their lives following a catastrophic accident.Who's Eligible?
- Employees age 18 to 69 who are actively at work for a minimum of 20 hours per week.
- Spouses age 18 to 69 are eligible to apply if they are not disabled.
- Dependent children age 14 days to 18 or to age 24 if a full-time student.
1 May not be availble in all states
2 Riders available on a case basisdoes not include bonus or commission), start when short-term benefits are exhausted, and continue anywhere from five years to life. Often, group long-term insurance is fully paid for by employers without contributions by employees. As a result, employer-paid disability income benefits are subject to income tax, and you should take this into consideration when evaluating your needs.
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