Unum Voluntary Benefits

The City of Chattanooga offers employees these additional individual benefits to help protect your income and wellbeing.

Supplemental Life and AD&D Insurance
Summary of Benefit
When it comes to protecting the financial security of you and your family, nothing is more important than planning ahead. Even though you already have Basic Life insurance, it is important to ask yourself whether it provides the protection you need to cover all of your financial responsibilities. Purchasing insurance on yourself, your spouse and/or your children can help alleviate unforeseen expenses if a tragic event occurs.

Voluntary group term life insurance can be purchased in addition to the Basic Life insurance provided by the City of Chattanooga. Premiums can be deducted from your paycheck.

Eligibility
Full-time employees are eligible for coverage through UNUM. Employees must purchase Supplemental Life insurance coverage for themselves in order to purchase coverage for a spouse or child(ren).

Amount of Coverage
Employees: Increments of $10,000, up to Maximum Election of $500,000
Guarantee Issue Amount: $150,000, or 5x salary
Spouse: Increments of $5,000, up to Maximum Election of $250,000*
Guarantee Issue Amount: $25,000
Child(ren): Increments of $2,000 up to Maximum Election of $10,000
Guarantee Issue Amount: $10,000
* - spouse amount cannot exceed employee’s elected amount

Monthly Rates for Voluntary Life Coverage

Age Range Cost per $1,000
of coverage
Age Range Cost per $1,000
of coverage
Less than 25 $0.117 50 to 54 $0.578
25 to 29 $0.128 55 to 59 $0.872
30 to 34 $0.147 60 to 64 $1.352
35 to 39 $0.188 65 to 69 $2.33
40 to 44 $0.252 70 to 74 $4.135
45 to 49 $0.377 75+ $7.988

 

Critical Illness Insurance
This benefit pays a lump-sum payment if you are diagnosed with a covered health condition, such as a heart attack, stroke, or cancer. You can use the benefit payment in any way you choose. Coverage is available for employees, spouses, and children, and your premiums will not increase over time. The policy includes a $50 payment to you and each covered dependent when you get a qualified yearly wellness exam.

Accident Insurance
Accident insurance pays benefits for covered off-the-job accidents based on the type of accident and the treatments received. When you become injured, the Accident plan will pay you a direct cash benefit that supplements your medical insurance. Covered treatments include doctor appointments, x-rays, surgeries, physical therapy and follow-up treatments. Coverage is available for employees, spouses, and children, and your premiums will not increase over time.

Whole Life Insurance
Whole life insurance can provide added financial security for you and your family. This optional life insurance option is separate and different from your group term life insurance, in that it accumulates cash value over time. The premiums never increase, so the amount you pay when you sign up is the amount you will always pay. The insurance also includes an option that will allow you to stop paying at age 70, while still keeping the coverage for life. Additionally, if you reach a point in life where your health condition qualifies, the policy can be used to pay for long term care expenses. Coverage is available for employees, spouses, and children.

Long Term Care Insurance
This type of insurance can be used to pay for care such as nursing home care and home health assistance when needed. When a covered person is determined to need the assistance, the policy pays a monthly benefit to use towards these costs. This determination is made by a doctor, and means that you are unable to perform two activities of daily living (bathing, dressing, toileting, transferring, continence and eating), or have suffered severe cognitive impairment and need substantial supervision in your daily life.

  

References

For questions about your Unum coverage please call:

1-866-679-3054

or visit www.unum.com