Life Insurance

[jjgolf83]

I am still a part time employee after 5 years (and I probably still have a while) but myself, wife, and my daughter pay each week for additional life insurance through UPS.

I can't get an answer from Prudential or UPS.

Does anyone know if that will be taken away under the new agreement? The Teamcare plan says "FT: 2080 or PT: 1040 times hourly rate. There is a maximum of $100,000." and then spouse is $5,000 and child is $2500. We pay a little bit of money each week out of my paycheck for me to have $200,000, $45,000 for my wife, and $12,000 for my daughter.

Anyone know the specifics on this? Thanks in advance.

 

[PiedmontSteward]

If the coverage is through UPS, my hunch would be that it's being discontinued along with the company plan. Considering the TeamCare life insurance policy is listed as the "basic" plan, I'm assuming there will be options to pay for additional coverage after enrollment begins January 1st.

Additionally, under Teamcare, dependents will receive coverage for 5 additional years after the death of the covered member. That ain't bad.

 

[jjgolf83]

That's nerve racking to think that everytime we get a new contract that changes.

You would think when you sign up for it that you're locked into that rate for life, but I guess it's just the life of the contract.

But that is true... if it says that's the Basic Plan hopefully there is the ability to add additional at a low cost like we are now.