As a regular employee hired on or after February 20, 2012, and working at least 20 hours per week, you are eligible to elect Voluntary Long Term Disability Buy-Up Insurance coverage (LTD Buy-Up insurance). Please take prompt action if this new benefit meets your needs as the enrollment period for this coverage will end on June 15, 2013.
In the event of an illness or injury which lasts more than six months, Amherst College provides you with coverage of 60% of your salary, at no cost to you, under our Group Long Term Disability Plan. You are now also eligible for an individual disability policy intended to supplement Amherst’s Group Long Term Disability Plan. The supplemental benefit, called LTD Buy-Up insurance, is insured by The Standard, one of the leading disability insurance providers in the country, and is being offered to you on a voluntary basis. Premiums associated with the coverage through The Standard are paid by you.
With this benefit, a higher percentage of your overall compensation can be insured in the event you suffer a disabling injury or illness of six months or more. If you enroll at this time your policy will generally be approved without any medical exams or underwriting. As these policies are individually tailored to your personal situation, they are completely portable which means coverage may be continued if you leave the College in the future. In this instance you would continue to pay the same rates as when you were an active employee.
Simplified Underwriting and premium discounts are aspects of the LTD Buy-Up program. You have a one-time Simplified Underwriting period that will end on June 15, 2013. If you decide to enroll at a later time, you would be subject to Modified Underwriting process, which generally is less rigorous than if you applied for this type of benefit on your own.
You should receive more information about the LTD Buy-Up insurance program directly from The Standard soon. Tucker & Shepley Benefits and Insurance helps to administer our program.
To provide you more information on this benefit, please visit www.LTD-Buyup.com. This site contains specific information regarding the Amherst College benefit. The goal of this educational presentation is to provide important information on a topic that may help you in your disability insurance planning and personal financial welfare. You can also arrange for your own personal consultation with Joe Imparato. Please go online to meetme.so/Imparato to select a time best for you, or you can contact him at (617) 342-7223.
Please use the following link for some basic information about the benefit: Voluntary LTD Buy-Up Brochure
To take advantage of this benefit this coming year, you must enroll no later than June 15, 2013. If you have questions regarding this notice, please contact the Office of Human Resources at 413-542-2372.