Insurance
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NTEU members enjoy special group rates for essential insurance programs including:
Get the protection you need, at a rate you can afford! Only NTEU members are eligible for the insurance
programs listed below. To
become an NTEU member and take advantage of these great member
only benefits, please click
here.
Short-Term Disability, Universal Life Insurance and Cancer Insurance
from Colonial Life
While you probably have health insurance, that coverage might not pay for the indirect costs of accidents, sicknesses and hospitalization – the costs no one thinks about until they become a reality. Colonial Life offers supplemental products that can help fill the gaps left by health insurance, with premiums paid through convenient payroll deductions.
Short-Term Disability Insurance helps offset the financial losses that occur when an employee is unable to work.
Cancer Insurance helps protect you against the out-of-pocket medical and indirect, non-medical expenses related to cancer diagnosis and treatment.*
Critical Illness Insurance (with optional
Cancer coverage) complements your major medical coverage by providing
a lump-sum benefit you can use to help pay the direct and indirect costs
related to covered critical illness.*
Accident Insurance helps offset
the unexpected medical expenses, such as emergency room fees, deductibles
and copayments that can result from a covered accident. An accidental death
rider is also available.
Universal Life Insurance provides death benefits coverage that you can increase or decrease as your needs change. The policy builds cash value on a tax-deferred basis at current interest rates and has flexible premium payments and coverage amounts.
* There are two ways to purchase cancer coverage – as
a critical illness policy with cancer coverage, or as a stand-alone cancer
policy that does not cover other critical illnesses. Please review fully
with your Colonial representative the specific benefits of each, when making
your decision.
©2008 Colonial Life & Accident Insurance Company
Colonial Life products are underwritten by Colonial Life & Accident
Insurance Company, for which Colonial Life is the marketing brand. Similar
policies, if approved, are underwritten in New York by The Paul Revere Life
Insurance Company.
Coverage has exclusions and limitations that may affect
benefits payable. Coverage may vary by state and may not be available in
all states. Contact the Colonial Life Benefits Center for complete details.
To take advantage of this member only benefit, you must be an NTEU member. Click for an Application for NTEU Membership.
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Professional Liability Insurance
Professional Liability Insurance is available to NTEU members to help protect
them while performing their official duties. In partnership with The Insurance
Exchange, the program offers the following benefits:
DAMAGES
The policy will pay all sums up to one million dollars ($1,000,000), which you are obligated to pay as damage in suits based on acts, errors, or omissions committed in the performance of official duties.
ADMINISTRATIVE EXPENSE COVERAGE
The insurance company will provide counsel and pay cost of defense and monetary penalties arising out of disciplinary proceedings (including investigations) and judicial sanctions (monetary penalties imposed by any adjudicatory body as a result of error act or omission). Up to $100,000 annually is available for these expenses.
Coverages are provided by an AM Best “A” rated company and are summarized and subject to the terms, conditions and exclusions printed in the policy. Please refer to the policy form for specifics on coverages and limits. NTEU is in no way responsible for any such matters.
ANNUAL PREMIUMS
Premiums are graduated based on member's grade. The premiums are significantly less that the other professional liability insurance product that is available to federal employees. The annual premium of this product ranges from $51 plus tax for a GS-4 to $252 plus tax for a GS-15.
To take advantage of this member only benefit, you must be an NTEU
member. Click for an application for NTEU
membership.
Accidental Death and Dismemberment Insurance
All NTEU members are automatically covered by a $1,000 Accidental Death
& Dismemberment Policy. There is no premium to ever be paid, the only
requirement is you remain an NTEU member in good standing.
To take advantage of this member only benefit, you must be an NTEU
member. Click for an Application for NTEU
Membership.
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