Employee Benefits

University Insurance Association (UIA) Life Insurance - University of Wisconsin System

UIA Board

Certificate of Insurance (effective October 1, 2010)

The University Insurance Association Plan provides decreasing term life insurance to eligible unclassified faculty, academic staff and limited appointees under Group Policy # 32872-G issued by the Minnesota Life Insurance Company and administered by the University Insurance Association Board.

See the UIA Fact Sheet for plan details.

Program Changes for 2010

Eligibility

Participation is a condition of employment for Faculty, Academic Staff and Limited Appointees who hold an unclassified appointment by the Regents of the University of Wisconsin and whose current rate of compensation is not less than 50% of the average instructors salary for the previous year.

The monthly earnings threshold for 2012-13 is $2,610.83.

Rehired annuitants receiving a Wisconsin Retirement System benefit are not eligible for this program.

Enrollment

  • If you meet the eligibility criteria, enrollment is automatic.
  • No application is required.
  • You may designate a beneficiary. If you do not have a beneficiary designation on file, proceeds will be paid according to standard sequence.
    • Effective January 1, 2010, the Standard Sequence under the UIA plan is:
      1. The insured's spouse or domestic partner, if living, otherwise;
      2. The insured's surviving children equally, otherwise;
      3. The insured's surviving grandchildren equally, otherwise;
      4. The insured's surviving parents equally, otherwise;
      5. The insured's surviving siblings equally, otherwise;
      6. The insured's estate.

Coverage

  • Coverage is effective on April 1 or October 1, depending on your date of employment.
  • The UIA plan does not cover your spouse or dependents.
  • Your benefit is determined according to your age at the beginning of the contract year (October 1).
    UIA Schedule of Benefits Effective October 1, 2010
    Age Amount of Death Benefit
    Under 28 $101,000
    28-30 $98,100
    31-33 $90,900
    34-36 $78,900
    37-39 $65,000
    40-42 $50,900
    43-45 $39,100
    46-48 $30,000
    49-51 $22,600
    52-54 $17,200
    55-57 $13,100
    58-60 $10,300
    61-63 $8,200
    64-66 $6,100
    67-69 $4,500
    70 + $3,400

Premium

  • The annual premium of $24 is deducted from your October earnings (paid on or about November 1).
  • If your employment begins after payment of October earnings, a $12 premium will be deducted from your March earnings (paid on or about April 1).
  • The University does not contribute toward the premium.

Program Features

  • Continuation of Coverage, meaning coverage in the group policy after employment, may be an option under the following circumstances:
    • you terminate employment, including retirement; or
    • you are no longer in a class eligible for insurance, such as moving from an academic to a non-academic appointment; or
    • you are laid off.

To continue coverage, you must make a written request and make the first premium payment to Minnesota Life Insurance Company* within 60 days after UIA group insurance would otherwise terminate. For information regarding plan continuation, contact your Benefits Office and complete this continuation form.

Employees on leave of absence who miss a premium deduction will be billed through the University. Such employees will be required to remit the annual premium to the UW Service Center by December 1st of each year for the duration of the leave.

  • An Accelerated Benefit, up to 100% of the life insurance proceeds can be paid to you if you become terminally ill. For information regarding the Accelerated Benefit, contact Minnesota Life Insurance Company.*
  • Transfer of Ownership, you have the right to assign ownership of the insurance to another party. Use the Transfer of Ownership form to initiate this option.
  • Conversion of Coverage, means insurance coverage in a permanent life insurance policy with Minnesota Life Insurance Company* when your UIA group insurance terminates. Most employees opt for the lower-priced continuation option for life insurance coverage following employment.

To convert coverage, you send a written request and submit the first premium payment to Minnesota Life Insurance Company* within 31 days after UIA group insurance terminates. For information regarding plan conversion, contact Minnesota Life Insurance Company.*

*Minnesota Life
P.O. Box 259708
Madison, WI 53725-9708
(608) 277-8690 or
(866) 295-8690

Annual Report for 2009-10.

For additional information, please refer to the Certificate.

The 2013 Annual UIA Meeting will be held on May 3, 2013, at 11 a.m. at 780 Regent Street, Room 123 in Madison, Wisconsin. All members are welcome to attend.

 

 

 

This document was last revised on January 30, 2013

UWSA Thumbnail Logo