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- If you are appointed half time or more, you are eligible to participate in the group term life insurance. Basic life insurance is equivalent to your base annual salary (not to exceed $50,000) and is provided at no cost to the employee. As your annual salary increases, your basic coverage is automatically increased. Benefits for the basic coverage are reduced for employees age 70 and older.
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- If you do not enroll in the insurance plan within 31 days after becoming eligible for coverage, you and any dependents you wish to cover must provide evidence of good health.
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- You may buy additional life insurance through the University for yourself and dependents. You pay the full cost of this coverage, and must enroll within thirty-one days after your first day of work, unless you provide proof insurability. Please see optional life insurance for additional coverage on yourself and dependent life insurance for your eligible dependents.
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- During the first 31 days following termination of employment, a former employee may be eligible to convert their Basic, Optional/Dependent Group Term Life insurance without having to furnish evidence of good health. An application and premium payment must be submitted within the first 31 days following termination of employment. An application to convert coverage is available by contacting Human Resource Services at 569-3180.
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- (Board Policy 430.3)
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- The University pays the entire cost of your basic long-term disability insurance policy if you work half time or more on a regular appointment basis (not hourly). This coverage is for all eligible employees whose annual salary is $20,000 or less. Your coverage is automatic, starting with your first day of work.
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- If you are approved for disability through the University LTD plan, you may receive a disability benefit of up to 60% of your base salary (up to $1,000 maximum monthly benefit) beginning with the seventh month of your disability. Disability benefits will cease on the earliest of the date you are no longer disabled, the date you die, and the end of the maximum benefit period. In some cases, benefits may continue beyond age 65, depending on the employee's age at the time of disability.
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- Long Term Disability is designed to coordinate with other forms of disability payments, such as Social Security and Workers' Compensation, so that you will receive a total income of 60% of salary (up to a maximum $1,000 per month).
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- During the first 31 days following termination of employment, a former employee may be eligible to convert their Basic and Optional Long Term Disability insurance without having to furnish evidence of good health. An application and premium payment must be submitted within the first 31 days following termination of employment. An application to convert coverage is available by contacting Human Resource Services at 569-3180.
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- For detail information, please view retirement benefits page.
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- For detail information, please view All Rates.
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- For detail information, please view health insurance page.
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- For detail information, please view dental insurance page.
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- You may buy life insurance for your spouse and eligible dependent children under this plan. You pay the full cost of this coverage, and must enroll within thirty-one days after your first day of work, unless you provide evidence of insurability. If you enroll for this coverage, you have the option of choosing $10,000, $15,000, or $20,000 coverage on your spouse. Each eligible dependent that is six months to 19 years of age is covered for 50% of the amount you elect for your spouse. A dependent age 19 up through their 25th birthday and a full-time student is also covered. Children older than 14 days but less than 6 months are covered for $100. The employee pays the full cost of dependent life insurance. In order to purchase life coverage for your dependents, you must first purchase Optional Life Insurance coverage for yourself.
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- You have the option to buy additional life insurance through the Optional Life Insurance plan. You may choose additional coverage of one times, two times, three times, or four times your annual salary. There is a maximum benefit of $500,000. The employee pays the full cost of the optional life insurance premium.
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- Coverage is available for you and your eligible dependents. If you or a covered dependent die as the result of an accident (on or off the job), the beneficiary will receive a benefit based on the amount of coverage you select. You may choose employee coverage up to $300,000. Employees requesting coverage in excess of $150,000 will be limited to coverage of 15 times their annual salary.
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- If you choose family coverage, your spouse's coverage is 60% of your coverage; and each eligible dependent is covered for 20% of your coverage.
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- The plan may also pay partial benefits if a covered person is seriously injured in an accident or loses a limb or eyesight.
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- The employee pays the full cost of Accidental Death and Dismemberment (AD&D).
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- During the first 31 days following termination of employment, a former employee may be eligible to convert their AD & D insurance without having to furnish evidence of good health. An application and premium payment must be submitted within the first 31 days following termination of employment. An application to convert coverage is available by contacting Human Resource Services at 569-3180.
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- If your annual salary is greater than $20,000, you may purchase Optional Long Term Disability to provide additional salary coverage beyond $20,000 per year. You pay the total cost of the optional coverage, which will be deducted from your paycheck.
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- This coverage is designed to provide total disability income up to a maximum benefit of $5,000 per month (based on an annual salary of $100,00). Both the Basic and Optional Long Term Disability policies are designed to coordinate with other forms of disability payments, such as Social Security and Workers' Compensation, to provide you with a total monthly payment equal to 60% of your base salary before you became disable.
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- If you choose the optional coverage, you pay the additional premium. Disability benefits paid from the basic insurance are taxable, but benefits paid from the optional insurance are not taxable.
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- Disability benefits from basic and optional coverage will cease on the earliest of the date you are no longer disabled, the date you die, and the end of the maximum benefit period. In some cases, benefits may continue beyond age 65, depending on the employee's age at the time of disability.
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- For detail information, please view Flexible Benefit Plan page.
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- For detail information, please view retirement benefits page.
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Note: The Voluntary Plans are 100% employee paid. There is no cost sharing provided by the University.
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- Benefit eligible employees of the University of Arkansas can enjoy group-buying power for savings on auto and home insurance. With Group Savings Plus, you'll enjoy:
- Exclusive group discount of up to 15% off our already competitive rates
- Rates guaranteed for 12 months, no size
- Convenient payment plans, including automatic payroll deduction
- Additional savings based on your age, driving experience and auto equipment (such as anit-lock brakes and airbags)
- Auto/Home insurance is administered through Liberty Mutual (501)228-5003 in the greater Little Rock Area and (800)207-7001 outside Little Rock.
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- A Long-term Care benefit is available to all benefit eligible employees of the University. This plan gives University employees the power of group buying for Long-Term Care.
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- Long-Term Care is administered through Continental Casualty Company (C N A). To receive additional information, please call (877)777-9072 or visit their web-site: www.ltcbenefits.com (password: UALTC).
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Critical Care Insurance
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- Critical care insurance plan is a voluntary product offered through Metropolitan Life Insurance Company (MetLife). The critical care insurance policy is designed to pay you and your covered dependents for diagnosis and treatment of cancer, heart attack, stroke and certain other critical illnesses. This policy does not coordinate with our health plan, as it will pay in addition to what our health insurance plan pays. All benefits are paid directly to you. You can obtain additional information on the critical care insurance product by visiting the MetLife website at www.metlife.com.
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