224-770-5306

BENEFITS & COSTS

IUEC Local 16

Summary of Benefits & Costs

Benefits are made available only to full time, actively working members of the IUEC Local 16. This group plan has minimum participation requirements for the plan to become effective. Failure to meet participation could prevent the plan from becoming effective, or delay the effective date. These coverages are guaranteed approved for all actively working/dues paying members of IUEC Local 16. No medical tests, questions, or underwriting.

For quick and easy enrollment, call Cornerstone at 224-770-5306 (M-F 8am-5pm CST)

Short-Term Disability (STD)

  • Benefit pays on day 15 for up to 24 weeks
  • Pays a flat weekly benefit amount of $250 or $500
  • Pre-existing conditions are covered after 12 months
  • Covers off the job disabilities resulting from injury or illness
  • Stackable with other benefits up to 100% of pre-disability earnings
  • Benefits paid are tax free
  • Includes $5,000 of Life/AD&D coverage
Short-Term Disability (STD) – Flat Rates
Pays on day 15 for up to 24 weeks  •  Includes $5k Life Insurance
Benefit 0-29 30-39 40-49 50-59 60-69
$250 $21.93 $25.84 $36.40 $56.00 $83.36
$500 $38.00 $45.59 $65.55 $102.05 $151.43

* Stackable with other benefits to 100% of pre-disability earnings

Long-Term Disability (LTD)

  • Pays after 180 day waiting period (starts when STD ends)
  • LTD Option A pays a flat $2,000 monthly benefit for up to 2 years
  • LTD Option B pays 60% of monthly earnings for up to 5 years
  • Pre-existing conditions are covered after 12 months
  • Covers on and off the job disabilities resulting from injury or illness
  • Offset by other benefits
  • Benefits paid are tax free
  • Includes 24 months of own occupation coverage
  • Includes $5,000 of Life/AD&D coverage
Long-Term Disability (LTD) Flat $2,000 Benefit
Pays after 180 day waiting period, for up to 2 years  •  Includes $5k Life Insurance
Benefit 0-29 30-39 40-49 50-59 60-69
$2,000 $8.65 $11.35 $21.95 $40.49 $104.38

* Benefit cannot exceed 60% of your monthly earnings

Long-Term Disability (LTD) 60% Benefit
Pays after 180 day waiting period, for up to 5 years  •  Includes $5k Life Insurance
Salary Benefit 0-29 30-39 40-49 50-59 60-69
$50,000 $2,500 $10.27 $17.54 $43.83 $95.58 $104.85
$60,000 $3,000 $11.16 $19.83 $51.14 $112.70 $122.77
$70,000 $3,500 $12.04 $22.12 $58.46 $129.83 $140.68
$80,000 $4,000 $12.93 $24.41 $65.77 $146.95 $158.60
$90,000 $4,500 $13.81 $26.70 $73.09 $164.08 $176.51
$100,000 $5,000 $14.70 $28.99 $80.40 $181.20 $194.43

* Annual Earnings include your total compensation for the year including overtime
* Call 224-770-5306 to get premiums for annual earnings amounts not listed above
* Benefits are subject to offsets

Life and Accidental Death & Dismemberment (AD&D)

  • Guaranteed approved coverage for member, spouse, and children – NO pre-existing condition limitations
    • Member and Spouse coverage includes an equal amount of AD&D. If death is caused by an accident,
      benefit doubles
  • Member coverage from $10,000-$150,000 (in $10,000 increments)
    • Spousal and child coverage is available when member life coverage is elected
  • Spousal coverage of $5,000-$25,000 (in $5,000 increments), not to exceed 50% of member election
  • Child(ren) eligible for a flat $10,000 of coverage – All eligible children are covered for $2.05 per month
  • Life coverage is convertible & portable

Please Note: Life/AD&D guaranteed amounts may be lower or not offered at future open enrollments for those members that do not enroll initially

Life and Accidental Death & Dismemberment (AD&D)
Benefit 0 – 29 30-39 40-49 50-59 60-69 70-74 75+
Member Monthly Premium
Can be elected in increments of $10,000
$10,000 $3.69 $4.18 $6.50 $11.90 $22.55 $47.98 $78.48
$50,000 $10.45 $12.90 $24.50 $51.50 $104.75 $231.90 $384.40
$100,000 $18.90 $23.80 $47.00 $101.00 $207.50 $461.80 $766.80
$140,000 $25.66 $32.52 $65.00 $140.60 $289.70 $645.72 $1,072.72
$145,000 $26.51 $33.61 $67.25 $145.55 $299.98 $668.71 $1,110.96
$150,000 $27.35 $34.70 $69.50 $150.50 $310.25 $691.70 $1,149.20
Spouse Monthly Premium
$5k increments  •  Spouse Premiums Based on Member Age  •  Can’t exceed 50% of Member Life
$5,000 $2.85 $3.09 $4.25 $6.95 $12.28 $24.99 $40.24
$25,000 $6.23 $7.45 $13.25 $26.75 $53.38 $116.95 $193.20
Child(ren)/Dependent(s) Monthly Premium
No AD&D
Benefit Premium
$10,000 $2.00
IMPORTANT NOTE:

Please note, if you leave the union or retire it is your responsibility to contact our office immediately at (847) 387-3555, and failure to do so within 30 days will forfeit your ability to keep coverage and receive any premium refunds. Premium is determined by your age on the coverage effective date, and will increase on the next policy anniversary date after you enter the next age band. The IUEC does not make any endorsement or recommendations regarding these benefits. This program is voluntary and It is solely the members’ decision to enroll. This is a basic summary of benefits and makes no guarantee or warranty on the processing of claims. Other limitations may apply. It is recommended that each enrolled member obtain a copy and read the entire policy booklet. All non-banking administrative and transaction fees are included in the enclosed premiums.

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ENROLLMENT EXTENDED