Plan features
The WEA Trust offers term life insurance to school districts throughout Wisconsin. The plan pays a death benefit if a covered employee dies while his or her coverage is in force. The policy does not accumulate cash value and, therefore, has no cash surrender value. When applicable, benefits are paid to covered employees or their designated beneficiaries for covered losses.
In addition, school districts can choose optional benefits, including accidental death and dismemberment, additional life coverage, dependent life insurance, and domestic partner coverage. You can check with your school district’s business office to see if you are covered by a WEA Trust life insurance plan.
There are two features of the plan you should be aware of:
- Waiver of premium due to total disability This feature provides for premium to be waived for an employee who becomes totally disabled before age 60 and remains totally disabled for nine consecutive months. In this case, premiums are waived beginning the first of the month following the nine-month elimination period. If the total disability occurs after age 60, eligibility to continue the group coverage lasts for two years. A conversion plan is available at the end of the period. For more information, see your certificate.
- Accelerated life insurance benefit This benefit allows individuals suffering from a terminal illness to receive a portion of their life insurance while they’re still alive. The accelerated benefits may be used for things such as: helping to finance medical treatment and nursing care, covering day-to-day living expenses, settling affairs, or prearranging a funeral.
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Waiver of premium
Note our feature for the employee who becomes totally disabled.
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