Life & LTD
The ISAS Trust has joined with Strategic Employee Benefit Services and Unum Provident to offer fully-insured group life and disability insurance coverage. The Trust conducted a thorough vendor selection process during the summer of 2003 and the program was available to ISAS member schools beginning on September 1, 2003.
The basic plans are described below, please click on the links to the individual highlight sheets for additional product information.
Member schools can also work with our vendors to customize certain aspects of the plans. Please contact the Trust for additional information and rates.
Life and AD&D Insurance
The group life insurance policy provides for a 1 times annual earnings to a maximum of $150,000 for covered employees. AD&D coverage provides additional benefits for an accidental death, and for an accidental dismemberment.
The group life policy includes a comprehensive 3-visit Employee Assistance Program which is a wonderful compliment to a mental/nervous benefit provided by your health plan.
Additional, voluntary life insurance is also available for eligible employees, spouses and dependents at various benefit levels.
Long-Term Disability
The long-term disability policy provides for a benefit equal to 60% of an employee’s monthly earnings, up to $10,000 per month, after a 90-day elimination period.
The following riders are available to member schools at the group rate for plan customization:
- Retirement Income Protection (RIP) – Continues contributions to the employees' retirement plan when they become disabled
- Cost of Living Adjustments (COLA) – Adjusts disability benefits for cost of living/inflation increases
- Contributory Designation – Benefits can be tax-free to your employees if they contribute the premium