The Standard
Life and Accidental Death & Dismemberment (AD&D) Insurance
Lindenwood University provides Basic Life and Basic Accidental Death & Dismemberment coverage to all, full-time, regular, benefit-eligible employees. Coverage is automatic, 100% employer paid, and no enrollment is needed. Both policies provide $50,000 in coverage.
Additional supplemental life insurance can be elected for an additional cost to the employee. Costs vary based on coverage amount and age. Employees can elect additional supplemental life insurance for their spouses and dependents if they elect coverage for themselves. Voluntary coverage can be elected as a new hire, during annual Open Enrollment, or within 30 days of a qualifying life event. Coverage purchased during Open Enrollment or after a qualifying life event is subject to Evidence of Insurability (EOI).
Short-Term and Long-Term Disability Insurance
Short-Term Disability (STD) is voluntary and provides income protection for eligible employees if elected. These benefits begin on day 15 of the qualified disabling injury/illness for up to 26 weeks/180 days. The plan pays 60% of the employee’s weekly base pay – up to a maximum of $1,000 per week. Coverage can be purchased as a new hire, during Open Enrollment, or within 30 days of a qualifying event. Coverage elected during annual Open Enrollment or after a qualifying life event is subject to an Evidence of Insurability (EOI).
Long-Term Disability (LTD) provides a monthly benefit if an employee cannot work in their occupation due to a qualified disabling injury/illness. Full-time, regular, benefit-eligible employees are automatically eligible for LTD benefits upon completion of 1 year of service at a full-time status. This benefit starts after 26 weeks/180 days of the qualified disabling injury/illness up until the employee is no longer disabled, or until the employee reaches social security retirement age. This benefit pays 60% of the employee’s monthly base pay–up to a maximum of $10,000 per month. This coverage is provided by Lindenwood University after one year of full-time service and at no cost to eligible employees.
Critical Illness Insurance
Critical illness is a voluntary benefit plan that provides financial assistance upon the diagnosis of a major critical illness. Money from qualified claims can be used for any expenses such as house payments, groceries, doctor visits, etc., and are not limited to medical expenses. The plan pays a percentage of the elected coverage amount to the claimant upon diagnosis of a covered major medical condition. Examples of covered major medical conditions include but are not limited to, heart attack, stroke, major organ transplant, end-stage renal failure, developmental conditions (for children), and cancer.
Employees can elect critical illness coverage for their spouses and dependents if they elect coverage for themselves. Costs vary based on coverage amount and age. Critical Illness coverage can be elected as a new hire, during annual Open Enrollment, or within 30 days of a qualifying life event. Coverage elected during Open Enrollment or after a qualifying life event is subject to an Evidence of Insurability (EOI).
Accident Insurance
Accident insurance is a voluntary plan that provides a cash benefit to covered members injured due to an accident. Cash benefits can be used for any expenses and are not limited to associated medical expenses. The plan provides a lump sum for specific qualified injuries due to an accident. These include but are not limited to fractures, dislocations, burns, and costs associated with emergency care and hospital admissions.
Employees can elect accident insurance coverage for their spouses and dependents if they elect coverage for themselves and costs vary based on tier. Accident insurance coverage can be elected as a new hire, during annual Open Enrollment, or within 30 days of a qualifying life event.
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