Accidental Death & Dismemberment Insurance - HR Policy 307

Accidental Death & Dismemberment Insurance - HR Policy 307

Abstract:
This policy details available accidental death and dismemberment insurance policies available to UAB employees. This document includes schedule of payments and information on premiums.
Effective Date:
7/1/2012
Responsible Party:
Contacts:
Benefits
Administrative Category:
Applies To:
Staff
Keyword(s):
Material Original Source:

Policy 307 – Accidental Death & Dismemberment Insurance

Date Issued: 10/80
Date Revised: 07/12

UAB provides accidental death and dismemberment insurance for all full-time regular employees, 3/12 hour shift employees, full-time temporary employees, postdoctoral scholar employees, interns and residents as well as alternative schedules (32 hours or more and 10 month employees). This insurance provides coverage of $22,500. The total premium cost is paid by UAB.

For those employees desiring additional coverage, voluntary group accident insurance is available which will also cover spouses and dependent children. The total premium cost for this coverage is paid by the employee.


POLICY 307.A UAB-paid Accidental Death and Dismemberment Insurance


All regular full-time employees, 3/12 hour shift employees, full-time temporary employees, postdoctoral scholar employees, interns and residents are covered by a $22,500 accidental death and dismemberment insurance policy effective on the date of regular employment.

The beneficiaries designated for this coverage are the same as those named in the UAB-paid Group Life Insurance unless otherwise indicated by the employee.

The schedule of payments for accidental death and dismemberment indemnity is:

Loss of Life
100%
Loss of both hands or both feet
100%
Loss of entire sight of both eyes
100%
Loss of one hand or one foot
50%
Loss of entire sight of one eye
50%
Loss of speech
25%
Loss of hearing in both ears
25%
This policy covers the eligible employees 24 hours a day, 365 days a year, on or off the job, anywhere in the world.

If you are at least 60 years old or older with at least 5 years of service upon termination of employment, you are eligible for $6,000 accidental death and dismemberment insurance for a nominal monthly premium (Not available for UAB LLC employees).


POLICY 307.B Voluntary Group Accident Insurance (OPTIONAL)


All full-time regular, 3/12 hour shift employees, full-time temporary, part-time regular, postdoctoral scholar employees, interns and residents as well as alternative schedules (32 hours or more and 10 month employees) are given an opportunity to participate in this accidental death and dismemberment plan. Coverage up to $500,000 is available, and covered employees may purchase insurance on spouses and eligible children. The entire premium cost for this insurance is paid by the employee.

This policy provides protection 24 hours a day, 365 days a year, on or off the job, anywhere in the world.

The schedule of payments is as follows:

Loss of life
Principal Sum
Both hands, both feet, or sight of both eyes
Principal Sum
One hand, one foot or sight of one eye
Half Principal Sum
Speech or hearing in both ears
One-fourth Principal Sum
Employees are eligible to join this plan within the first 31 days from the date of employment. Otherwise, you may join during an announced annual open enrollment period.