WHY Local 113 IS OFFERING THESE BENEFITS
Currently members participating in the 8th District Health and Welfare benefit have a 39-week $250 Short-Term Disability benefit (our plan design caters to this), which does not include Long-Term Disability. This is simply not enough to protect members out due to injury, illness, or death. 1 in 3 IBEW Members will become disabled for at least 90 days during their career. We are trying to help our members avoid a financially devastating event if the unexpected happens and there is no income for you or your loved ones.
HOW IT WORKS
These Paycheck Protection Benefits pay in addition to your Health and Welfare benefits when you’re unable to work due to illnesses, injuries or death. We’ve made options available so members can protect most of their current take home pay and choose the plan options that best address the needs for themselves and their loved ones.
Our active members are guaranteed approved; there are no medical tests, questions or underwriting to enroll!
Why Short-Term Disability (STD)
Close to 90% of disabling accidents and illnesses in America are not work related and therefore not covered by workers’ compensation. This makes sense when you think about everything you do outside of work from household tasks to your hobbies and interests. It can happen to any IBEW Local 113 member, and anyone who has experienced a tragic ‘health’ event or knows someone who has can attest to how difficult these situations can be both emotionally and financially for everyone involved.
Why Long-Term Disability (LTD)
There is no Long-Term Disability through our Health and Welfare Plan. After 6 months, you have no union provided protection. The average Long-Term Disability claim lasts 34.6 months. And some of the most common causes are not accident related; Cancer and Mental Illness alone account for almost 25% of disabilities.
The only protection you have if you choose not to enroll is Social Security Disability, which denies almost 70% of claims and currently has a $1 Million claim waitlist (resulting in average time to have a claim looked at exceeding 18 months).
Why Life Insurance with Accidental Death & Dismemberment (AD&D)
Most of us are underinsured for Life Insurance benefits that provide for our loved ones if something happens to us. Experts recommend at least 5 to 10 times your annual earnings in Life Insurance per household.
We encourage our members to think about the future by making sure your loved have been provided for in the event of an unexpected death. Members can purchase up to $200,000 of term Life Insurance that covers you 24-7, on and off the job. This Life Insurance includes and equal amount of AD&D at no additional cost. This means, if the member dies as the result of an accident, the benefit amount of their Life Insurance paid to their beneficiary would double.