Overview
It’s important to plan for your family’s financial security in case the unexpected happens. That’s why WinnCompanies provides you with long-term disability insurance and basic life and accidental death and dismemberment (AD&D) insurance — at no cost to you.
For added protection, you can pay for short-term disability insurance, accident insurance, supplemental life insurance, and/or permanent life insurance. Your payments for this voluntary coverage will be made through convenient payroll deductions.
Long-Term Disability (LTD)
The loss of income due to illness or injury that prevents you from working for an extended period of time can cause serious financial hardship for your family. Long-term disability insurance replaces a portion of your income to help you continue paying your bills and meeting your financial obligations during this difficult time.
- LTD coverage is provided at no cost to you.
- Enrollment is automatic.
- Benefits begin after you have been disabled for 90 days (the initial period covered by short-term disability, if enrolled).
- You receive payments based on 50% of your monthly earnings, up to a maximum monthly benefit of $12,000 and a minimum monthly benefit of $100.
For more information, visit the Employee Resources page on Winntranet to see the detailed plan certificate.
Short-Term Disability (STD)
An injury or illness that keeps you out of work for even a short time can significantly impact your way of life. Short-term disability insurance provides a source of income to help you maintain your household and living expenses if you are out of work due to a disability.
- STD coverage is voluntary and paid by you.*
- You are automatically enrolled in STD coverage unless you live in California, Massachusetts, New Jersey, or Rhode Island. Please note, these states offer disability coverage through payroll taxes. If you receive coverage through a state plan, you will only receive the difference if enrolled in the voluntary coverage.
- Benefits begin after you have been disabled for 14 days.
- You receive payments of up to 60% of your base weekly earnings, up to a maximum of $750/week.
- The maximum benefit period is 13 weeks.
- Evidence of Insurability (EOI) will not be required if you are enrolling for STD coverage for the first time. However, if you have a medical condition that began before your coverage takes effect, and you receive treatment for this condition within the three months leading up to your coverage start date, you may not be eligible for benefits for that condition until you have been covered by the plan for 12 months.
For more information, visit the Employee Resources page on Winntranet to see the detailed plan certificates for LTD and STD.
* Corporate employees are covered under a specialized employer-paid STD plan. Visit Aptia365 to view your STD plan summary.
Basic Term Life and AD&D
WinnCompanies provides basic term life and AD&D insurance to assist you and your family in the event of a death or dismemberment. These benefits are fully paid by the company at no cost to you and enrollment is automatic.
Benefits are equal to:
- Basic term life insurance: 2x your annual earnings, up to a maximum of $1 million
- Basic AD&D insurance: 2x your annual earnings, up to a maximum of $250,000
What is AD&D insurance?
Should you lose your life, sight, hearing, speech, or use of your limb(s) in an accident, AD&D provides additional benefits to help keep your family financially secure. AD&D benefits are paid as a percentage of your coverage amount — from 50% to 100% — depending on the type of loss.
Select a beneficiary
Be sure to provide your life insurance beneficiary information during your enrollment session. You will need full names, dates of birth, and Social Security numbers. If you need to update your beneficiary outside of the Open Enrollment period, visit Aptia365.
For more information, visit the Employee Resources page on Winntranet to see the detailed plan certificate.
Permanent Life
Permanent life insurance is designed to pay a death benefit to your beneficiaries, but it also accumulates cash value you can use while you are living. The policy accumulates cash value at a guaranteed rate of 4.5%. Once your cash value builds to a certain level, you can borrow from the cash value or use it to buy a smaller “paid-up” policy with no more premiums due.
If you are diagnosed with a medical condition that limits life expectancy to 12 months (24 months in MA) or less, you can request up to 100% of the death benefit amount in advance, to a maximum of $60,000. Your covered spouse and dependents have this option, as well.
You also have the option to elect a long-term care rider (also known as the Chronic Illness Accelerated Benefit Rider). This option can help pay for long-term care if you undergo a period of chronic illness. If you re-elect permanent life with a long-term care rider, EOI is required.
Coverage is available for you, your spouse, and dependents. This voluntary benefit from Unum is paid by you.
Supplemental Term Life
You may choose to purchase supplemental life insurance for yourself, your spouse, and children to provide coverage in addition to the company-paid life insurance benefit. Evidence of Insurability (EOI) may be required in some situations. You pay the full cost of any supplemental life insurance. You must purchase coverage for yourself in order to purchase it for your spouse and/or child(ren). Talk to a benefits counselor or view the detailed plan certificate on Aptia365.
| Supplemental Term Life Insurance Benefit | |
|---|---|
| Team Member | Available in $10,000 increments up to $150,000 without completing medical underwriting (EOI) when enrolling during your initial eligibility; the overall maximum benefit is the lesser of 5x annual earnings, or $500,000. (If coverage is declined during initial enrollment, there is an opportunity to enroll during the next annual Open Enrollment, but medical underwriting will be required.) |
| Spouse | Available in $5,000 increments up to $25,000 without completing medical underwriting (EOI) when enrolling during your initial eligibility; the overall maximum benefit is the lesser of 100% of the team member’s amount of supplemental life insurance, or $250,000. (If coverage is declined during initial enrollment, there is an opportunity to enroll during the next annual Open Enrollment, but medical underwriting will be required.) |
| Children | Available in $5,000 increments up to the lesser of 100% of the team member’s amount of supplemental life insurance, or $10,000. |
Please note: If a team member or spouse has coverage and wishes to increase their coverage at the next annual Open Enrollment, medical underwriting is not required up to the following guaranteed issue amounts: $150,000 for the team member and $25,000 for the spouse.
Evidence of insurability
Life insurance over the guaranteed issue amount will require evidence of insurability (EOI). After electing coverage, you will receive more information if EOI is required.