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Unum Unit Aims Voluntary STD Product At Academics

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Colonial Life & Accident Insurance Company has developed a voluntary short-term disability plan especially for teachers, school administrators and other school employees.

Colonial Life, Columbia, S.C., part of Unum Group Corp., Chattanooga, Tenn., is offering the Educator Disability 1.0 plan to “employees in the educator industry,” ages 17 to 69, with salaries from $17,000 to $75,000.

Eligible educators could include employees at public schools grades kindergarten through grade 12, colleges, universities, community colleges, technical schools and charter schools.

Each plan participant will pay the same rate, regardless of age or gender, Colonial Life says.

The voluntary STD plan can pay 100% of the disability benefits for 3 months, then 50% for the next 9 months, or it can pay 100% of the benefits for the first 6 months, then 50% for the next 6 months.

Benefits for accidental injuries, accidental death and dismemberment, and hospital confinement come with the product, and educators also can buy coverage for spouses and dependents.

Plan benefits, including the hospital confinement benefit, are compatible with high-deductible health savings account programs, Colonial Life says.

A waiver-of-premium features waives the premium for an insured who receives disability benefits for more than 90 consecutive days.

The plan is guaranteed renewable for life, Colonial Life says.

The plan is approved for sale in Alabama, Arizona, Arkansas, Colorado, Connecticut, Delaware, Iowa, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Nebraska, Nevada, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, West Virginia, Wisconsin, Wyoming and the District of Columbia.


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