Long-term Care
For unexpected events, as well as the aging process, UNM offers UNUM long-term care insurance.
Highlights
- Long-term care insurance covers some or all of the cost of custodial care of individuals who are no longer capable of caring for themselves. This type of care covers those affected by accidents, injury, or illness, and it is not restricted to the elderly.
- Long-term care insurance is designed to provide coverage for one or more necessary diagnostic, preventative, therapeutic, rehabilitative, maintenance, or personal care services. Services should be provided in a setting such as a nursing home, the community, or the home of the patient, and not in an acute care unit of a hospital.
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Eligibility and coverage
UNM provides, at no cost to the employee, a $2,000 per month base benefit to all full-time employees after one year of benefits-eligible employment.
Buy-up: Full-time and part-time employees are eligible to purchase additional coverage for themselves after being employed for one year at UNM.
- If you purchase additional coverage within 31 days from your first-year anniversary, you are guaranteed this additional coverage. Otherwise, you are subject to underwriting.
- Coverage for spouses, domestic partners, parents, and grandparents may also be purchased after a year of employment, but is subject to underwriting.
You will receive monthly benefit payments when you experience severe cognitive impairment or have a loss of two or more of the six activities of daily living. Activities of daily living are:
- Bathing
- Dressing
- Toileting
- Transferring
- Eating
- Continence
Benefit payments will begin after three (3) months of the onset of impairment/loss of activities. You will initially choose the benefit level and duration (see following cost of coverage section).
Payments are made directly to you to use as you see fit. The UNUM plan is an asset protection model rather than a reimbursement model. Therefore, you will receive the benefits regardless of your actual incurred expenses. Once you qualify for benefits, UNUM pays the benefit directly to you each month. There are no invoices to keep track of or bills to submit.
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Cost of coverage
- Additional insurance may be purchased in increments of $1,000 per month.
- You choose the benefit level (between 50% and 100%) and the benefit duration (3 to 6 years).
- Cost for additional coverage is based on your age at time of enrollment. Therefore, the younger you are when you purchase this insurance, the lower your cost.
An enrollment package, containing a table of monthly costs, can be obtained at the HR Service Center.
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UNUM Long Term Care Information
