Employer Provided Insurances
Baylor Unviersity offers Long Term Disability Insurance and Basic Term Life Insurance. These benefits will be covered at Baylor's expense and no cost to the eligible employee.
Long Term Disability
What is Long Term Disability insurance?
Long Term Disability insurance is a form of income protection that provides a portion of the employee's salary in the event of a disabling illness or injury.
What does coverage look like?
There is no waiting period and the elimination period is 90 days. The monthly benefit is 60% of Monthly Earnings to a Maximum Gross Monthly Benefit of $15,000/month; subject to reduction by deductible sources of income or Disability Earnings. However, the Minimum Monthly Benefit is $100 or 10% of the employee's gross LTD Monthly Benefit, whichever is greater. For detailed information regarding the Long Term Disability insurance, please review the plan booklet.
Who manages the Long Term Disability insurance?
Baylor's Long Term Disability insurance is underwritten by Dearborn National Life Insurance Company. You can directly contact Dearborn National Customer Service by calling 1.800.538.0379.
Basic Employee & Dependent Term Life Insurance
What is life insurance?
Life insurance is a financial investment where the insured person assigns a beneficiary to receive a designated sum of money from the insurance provider upon the death of the insured person. Life insurance can offer piece of mind that loved ones will be provide with some measure of financial assistance upon the death of the insured person.
What does coverage look like?
The Basic Term Life insurance has no accrual value and pays to the beneficiary upon the death of the insured. The amount of insurance provided to regular full-time faculty and staff is based on the employee's salary with the maximum amount provided by Baylor being $50,000. For Spouse, coverage is $2,000. For each eligible Dependent Child, coverage is $2,000.
Who manages the University life insurance plan?
The Basic Term Life insurance policy is underwritten by Dearborn National Life Insurance Company. You can contact Dearborn National Customer Service by calling 1.800.538.0379.
