Life Insurance and Accidental Death & Dismemberment
Life and Accidental Death & Dismemberment (AD&D) benefits are administers by The Standard. These benefits are provided to offer employees additional financial protection for themselves and their loved ones.
Employees can refer to the Group Life Insurance Certificate for coverage details.
Basic Life and AD&D
Michigan Tech provides eligible employees with basic Term Life and AD7D coverage at no cost to you and enrollment is automatic. This benefit is equal to $50,000. If you are seriously injured or lose your life in an accident, you will also be eligible for an additional $50,000 benefit through AD&D insurance. Costs for this University-provided benefit are deducted from the $105 per month non-medical subsidy.
Supplemental Life and AD&D (Buy-Up)
You may also choose to purchase Supplemental (or Additional) Term Life insurance and AD&D coverage in addition to the University paid benefit. You pay the total cost of this benefit. The Additional Life maximum is the lesser of 4 times your earnings or $500,000. The AD&D insurance coverage amount matches what you elect for Additional Life insurance.
Please note: You can get up to $300,000 in coverage with no health questions. This is the guaranteed issue amount. For amounts greater than this, you will be required to answer some health questions and provide Evidence of Insurability (also called EOI). Available options are below:
- $10,000 - $500,000 in increments of $10,000
- The monthly rate for this benefit is $0.186 per $1,000 of benefit.
Voluntary Spouse and Dependent Life and AD&D (Buy-Up)
You may also choose to purchase Supplemental (or Additional) Term Life insurance and AD&D coverage for your spouse and dependent children (up to age 26; regardless if they're full-time students or not). Disabled children over the maximum age may be eligible for benefits, please contact Benefit Services for details.
To purchase this coverage, you must also be enrolled in the above Supplemental Life and AD&D coverage. The spouse guarantee issue amount is $50,000. Please note: To add or increase coverage, you may be required to answer some health questions and provide evidence of insurability (EOI). Available options are below:
- Spouse: $10,000 - $250,000 in increments of $10,000 (cannot exceed 100% of your Supplemental
Life election)
- The monthly rate for this benefit is $0.28 per $1000 of the benefit
- Child: Flat $10,000 for each child
- The monthly rate for this benefit is $0.22 per $1000 of the benefit
Evidence of Insurability
To apply for an amount over the guarantee issue, visit The Standard website to complete and submit a medical history statement.
Disability Coverages
Disability benefits are administered by The Standard. If you are out of work for an extended period of time due to a non-occupational disabling injury or illness, these coverages are designed to replace a portion of your income, and help you maintain your lifestyle. Michigan Tech provides both Short-Term and Long-Term Disability insurance options for you.
Short-Term Disability Coverage
Short-Term Disability (STD) replaces a portion of your income if an injury or illness forces you out of work for an extended period of time. Michigan Teach provides basic STD coverage at no cost to you. Enrollment is available to you after your are out of work for 14 days due to either an injury or illness and declared disabled for up to 26 weeks. Costs for this University-provided benefit are deducted from the $105 per month non-medical subsidy.
Employees can refer to the Short-Term Disability Certificate for coverage details.
| Eligibility | You are eligible for coverage if you are an active employee working a minimum of 30 hours per week. |
| Weekly Benefit Amount | If you meet the definition of disability, you would be eligible to receive a weekly benefit equal to 70% of your weekly earnings to a maximum of $3,000 per week. The payment amount will be taxable. |
Long-Term Disability Coverage
Michigan Tech also provides Long-Term Disability (LTD) to eligible employees at no cost. LTD provides the security of a continuous income in the event you are disabled for an extended period of time. LTD benefits are payable after 180 days of disability. Costs for this University-provided benefit are deducted from the $105 per month non-medical subsidy.
Employees can refer to the Long-Term Disability certificate for coverage details.
| Eligibility | You are eligible for coverage if you are an active employee working a minimum of 30 hours per week. |
| Monthly Benefit Amount |
If you meet the definition of disability, you would be eligible to receive a weekly benefit equal to 60% of your monthly earnings to a maximum of $5,000 per month. The payment amount will be taxable. |
Voluntary Long-Term Disability Buy-Up
Depending on your household budget, you may need additional disability coverage. To help you increase your disability protection, Michigan Tech allows eligible employees to purchase additional Long-Term Disability coverage at an affordable cost.
| Eligibility | You are eligible for coverage if you are an active employee working a minimum of 30 hours per week. |
| Weekly Benefit Amount | If you meet the definition of disability, you would be eligible to receive a weekly benefit equal to 70% of your monthly earnings to a maximum of $10,000 per month. The payment amount will be taxable. |
| Cost of Coverage | Details can be found in Employee Navigator, as these rates vary by earnings. |
| Changes to Coverage | Each year, or when you have a change in status, you will have the opportunity to change your long-term disability coverage. Any increase in coverage will be subject to the pre-existing condition exclusion. |
For more information on Access and Accommodations, please visit the Equal Opportunity Compliance and Title IX website.