Protect Your Income,
Protect Your Peace of Mind
In life, the unexpected happens. When it does, IUEC VIP Short-Term Disability (STD) Insurance stands as an important safeguard for your income, ensuring financial stability during times when you’re unable to work due to illness, injury, or surgery. Here’s why STD coverage should be utilized as part of your financial plan:
Immediate Relief
IUEC VIP STD Insurance provides you with a portion of your income tax-free shortly after an unexpected medical condition prevents you from working, offering financial stability when you need it most.
Recovery Without Stress
Knowing your financial obligations are covered, you can focus on what’s truly important—your recovery—without additional financial stress.
Seamless Transition to Long-Term Disability
If your condition extends beyond the short term, IUEC VIP STD coverage transitions seamlessly with Long-Term Disability (if elected) ensuring no interruption in your benefits.
Flexibility
The IUEC VIP STD policy offers a range of coverage options, allowing you to tailor the coverage amount to your specific needs and budget.
Employer Coverage Gaps
The IUEC VIP STD can fill income gaps when you’re not working. Short-Term Disability coverage supplements and pays in addition to the weekly income benefits Members may receive through the National Elevator Industry Health Benefit Plan as well as other benefits, as long as combined benefits do not exceed 100% of pre-disability earnings.
Important information about this plan
IMPORTANT: The monthly cost for coverage is based on your age at the start of the coverage and will increase on the policy anniversary date after you move into a new age bracket. This benefits guide is tailored for IUEC Members aged 18-70+.
Participation in this program is voluntary, and the decision to enroll rests solely with the Members. Members are responsible for bearing all associated costs. A $2 technology fee is included in all listed monthly costs for the following coverages: Short-Term Disability and Long-Term Disability. A $1 technology fee is included in all listed monthly costs for the following coverages: Member Life and Spouse Life.
IMPORTANT: If you depart from the IUEC, opt-out of paying dues, or retire, you must notify the IUEC Service Center at (224) 487-5030. Not doing so within 90 days could delay or negate your eligibility for a refund.
We encourage Members to thoroughly review the complete policy booklet. Email info@unionone.com to request a copy.
This program is administered by Union One Benefits Administration.
This voluntary benefit plan is classified as a Safe Harbor plan and, as such, is not subject to the Employee Retirement Income Security Act of 1974 (ERISA). The IUEC does not contribute to the premiums for this plan on behalf of its Members, does not endorse the plan, and does not require Members to enroll in the plan. Furthermore, the Union receives no financial or other consideration in connection with the administration or promotion of this program.
For STD & LTD: These policies provide disability income insurance only and do NOT provide basic hospital, basic medical, or major medical insurance as defined by the New York State Department of Financial Services.
For Life: You have 30 days to notify Union One of your retirement if you wish to port or convert your Life Insurance.
Group Insurance coverages are issued by New York Life Insurance Company, New York, NY. All Rights Reserved. NEW YORK LIFE, and the NEW YORK LIFE Box Logo are trademarks of New York Life Insurance Company.
