BENEFITS & COSTS
IBEW Local 177
Summary of Benefits & Costs
Take advantage of this enrollment opportunity to supplement the standard benefits provided by your union. Coverages are guaranteed approved for all actively working/dues paying Members of the Local.
For quick and easy enrollment, call (224) 770−5305 (Mon-Fri 8am-5pm CT)
Short-Term Disability (STD)
Guaranteed approved coverage.
- Pre-existing conditions are covered after 12 months.
- Benefits paid are tax-free.
- Stackable with other benefits up to 100% of pre-disability earnings.
- Covers off the job disabilities resulting from injury or illness.
STD OPTION A: Flat weekly benefit of $250 or $500.
– Starts paying after day 14 for up to 24 weeks.
| $250 WEEKLY BENEFIT |
$500 WEEKLY BENEFIT |
|||||
| AGE | MONTHLY COST | |||||
| < 30 | $17.58 | $32.15 | ||||
| 30-34 | $18.93 | $34.85 | ||||
| 35-39 | $20.28 | $37.55 | ||||
| 40-44 | $22.95 | $42.90 | ||||
| 45-49 | $27.80 | $52.60 | ||||
| 50-54 | $33.90 | $64.80 | ||||
| 55-59 | $41.85 | $80.70 | ||||
| 60-64 | $45.85 | $88.70 | ||||
| 65-69 | $60.38 | $117.75 | ||||
STD OPTION B: Pays a weekly benefit of 66.67% of pre-disability earnings.
– Starts paying after day 7 for up to 25 weeks.
| ANNUAL EARNINGS* | WEEKLY BENEFIT | MONTHLY COST | ||||||
| $40,000 | $512.85 | $49.64 | ||||||
| $50,000 | $641.06 | $62.05 | ||||||
| $60,000 | $769.27 | $74.47 | ||||||
| $70,000 | $897.48 | $86.88 | ||||||
| $78,000 | $1,000.00 | $96.80 | ||||||
*For additional benefit amounts not shown, please call (224) 770-5305.
Long-Term Disability (LTD)
Guaranteed approved, with 24/7 coverage.
- Pays after 180 day waiting period (starts when STD ends).
- Offset by other benefits.
- Pre-existing conditions are covered after 12 months.
- Benefits paid are tax-free.
- Covers on and off the job disabilities resulting from injury or illness.
LTD OPTION A: Pays a flat $2,000 monthly benefit for up to 2 years.**
| AGE | MONTHLY COST | ||
| < 30 | $5.24 | ||
| 30-34 | $6.34 | ||
| 35-39 | $6.94 | ||
| 40-44 | $9.66 | ||
| 45-49 | $13.96 | ||
| 50-54 | $17.76 | ||
| 55-59 | $28.36 | ||
| 60-64 | $31.80 | ||
| 65-69 | $73.87 | ||
**Unless salary is below $40K.
LTD OPTION B: Pays a monthly benefit of 60% of your pre-disability earnings for up to 5 years.***
| ANNUAL EARNINGS | $40,000 | $50,000 | $60,000 | $70,000 | $80,000 | |||
| MAX MONTHLY BENEFIT | $2,000 | $2,500 | $3,000 | $3,500 | $4,000 | |||
| AGE | MONTHLY COST | |||||||
| < 30 | $3.43 | $4.29 | $5.15 | $6.01 | $6.87 | |||
| 30-34 | $5.33 | $6.67 | $8.00 | $9.33 | $10.67 | |||
| 35-39 | $7.73 | $9.67 | $11.60 | $13.53 | $15.47 | |||
| 40-44 | $13.87 | $17.33 | $20.80 | $24.27 | $27.73 | |||
| 45-49 | $23.40 | $29.25 | $35.10 | $40.95 | $46.80 | |||
| 50-54 | $33.33 | $41.67 | $50.00 | $58.33 | $66.67 | |||
| 55-59 | $51.07 | $63.83 | $76.60 | $89.37 | $102.13 | |||
| 60-64 | $53.00 | $66.25 | $79.50 | $92.75 | $106.00 | |||
| 65-69 | $75.47 | $94.33 | $113.20 | $132.07 | $150.93 | |||
***Annual earnings include your total compensation for the year including overtime. For additional benefit amounts not shown, please call (224) 770-5305.
Life Coverage
with Accidental Death & Dismemberment (AD&D)
- Member coverage available for $10,000 or $20,000.
- No medical questions or tests.
- Coverage includes an equal amount of Accidental Death and Dismemberment.
– If death is caused by an accident, the benefit doubles. - Life coverage is convertible and portable.
- Spouse and Child Life coverage available when Member Life is elected (up to 50% of Member election).
– Spouses can be covered for $5,000 or$10,000.
– Children eligible for a flat $10,000 of coverage. One fee covers all dependents. - Coverage is 24/7 on and off the job.
| MEMBER COVERAGE | |||||||
| BENEFIT | $10,000 | $20,000 | |||||
| AGE | MONTHLY COST | ||||||
| < 30 | $1.15 | $2.30 | |||||
| 30-34 | $1.25 | $2.50 | |||||
| 35-39 | $1.57 | $3.14 | |||||
| 40-44 | $2.18 | $4.36 | |||||
| 45-49 | $3.24 | $6.48 | |||||
| 50-54 | $5.17 | $10.34 | |||||
| 55-59 | $8.18 | $16.36 | |||||
| 60-64 | $10.76 | $21.52 | |||||
| 65-69 | $16.59 | $33.18 | |||||
| SPOUSE COVERAGE* | ||||||||
| BENEFIT | $5,000 | $10,000 | ||||||
| AGE | MONTHLY COST | |||||||
| < 30 | $0.35 | $0.70 | ||||||
| 30-34 | $0.40 | $0.80 | ||||||
| 35-39 | $0.56 | $1.12 | ||||||
| 40-44 | $0.87 | $1.73 | ||||||
| 45-49 | $1.40 | $2.79 | ||||||
| 50-54 | $2.36 | $4.72 | ||||||
| 55-59 | $3.87 | $7.73 | ||||||
| 60-64 | $5.16 | $10.31 | ||||||
| 65-69 | $8.07 | $16.14 | ||||||
*Spouse costs are based on Member’s age.
| CHILD(REN) | MONTHLY COSTS | |||||||||||
| COVERAGE | UNDER 26 YEARS OLD | |||||||||||
| $10,000 | $6.70 | |||||||||||
For more detailed information, and to get costs for annual earnings amounts and rates not listed here, please contact the Enrollment Center at (224) 770-5305. Email at info@unioninsurance.com.
Time Left to Enroll
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Enrollment Ends 11/18/2022
Coverage Begins 12/1/2022
This program is voluntary and it is solely the Members’ decision to enroll. Members are responsible for paying their own costs. This is a basic summary of benefits and makes no guarantee or warranty on the processing of claims. Other limitations may apply. It is recommended that each enrolled Member obtain a copy and read the entire policy booklet. All non-banking administrative and transaction fees are included in the enclosed costs. Coverages are underwritten by Met Life.
IMPORTANT: If you leave the union or retire it is your responsibility to contact our office immediately at (847) 387-3555. Failure to do so within 30 days will forfeit your ability to keep coverage and receive any refunds.
Cost is determined by your age on the coverage effective date, and will increase on the next policy anniversary date after you enter the next age band. The union does not make any endorsement or recommendations regarding these benefits.
(224) 770−5305