Kristen Manes | 3/28/2006 10:55:24 PM
If you are not a current participant, you may apply for coverage at any time with medical underwriting.
Today, Long Term Care (LTC) insurance is important for people of all ages if they want to reserve financial security and independence in the event of an extended disability. And despite popular misconceptions, the need for longer-term care isn’t restricted to the elderly, because many working-age adults have disabling injuries and illnesses as well
Americans who need long-term care have more choice today. Many are able to remain in their homes and still receive the care they need. If you become disabled for any reason and could not live independently, how would you pay for the care you need? The financial impact of long-term care is significant, no matter where it is provided, and government programs don’t always pay for services:
Any active employee of LSU AgCenter is eligible for benefits provided the following:
Timely Applicant: If you enroll within your first 30 days of full-time employment, your coverage will be effective the first of the month following your first full calendar month of employment. This benefit is guaranteed for employee and spouse if it’s elected within first 30 days of eligibility of benefits.
Late Applicant: If an employee did not enroll into Long Term Care insurance within 30 days of their eligibility to obtain benefits, the employee can enroll at any time, but must complete the Evidence of Insurability Application before approval of coverage. Benefits will be effective once Unum approves their coverage.
Yourself as the Employee or Retiree, your spouse, your parents and/or grandparents and your spouse’s parents and/or grandparents may enroll in this plan. Coverage for retirees, your parents or grandparents is contingent upon them completing an Evidence of Insurability application and being approved by underwriting.
The plan specifies two measures of functional capacity to determine eligibility for benefits. The first is the ability to perform routine day-to-day activities on your own. The second is based on cognitive skills. Benefits are payable if you are under the care of a physician and you lose the ability to perform at least 2 of the 6 specified “Activities of Daily Living” (ADL) or when you suffer a cognitive impairment that requires stand-by assistance or verbal cuing to ensure your own protection or the protection of others. The specified ADLs are bathing, dressing, toileting, moving from place to place, continence, and eating. ADL loss must occur while you are insured.
To cancel your Long Term Care insurance, either complete and return the Termination form to LSU AgCenter HRM or write a letter to our office requesting to cancel your coverage.
If the employee leaves LSU employment or the employee/family member becomes ineligible for coverage, the employee/family member will be able to port their coverage through UNUM and convert their Long Term Care insurance. Benefits and premiums will remain the same. The employee has 30 days from when they lose coverage to port their coverage.
Unum Customer Service: 1-800-227-4165
*Long Term Care Insurance can be added at any time with medical underwriting (E of I form).