uia board upcoming meetings

UIA Annual Meeting

Date: Friday, May 10, 2019

Time: 11:00 a.m.
Location: 780 Regent Street Rm 123, Madison, WI 53715

Overview

The University Insurance Association (UIA) Life Insurance plan offers decreasing term life insurance to eligible Faculty, Academic Staff and Limited Appointees. Coverage levels range from $3,400 – $101,000 depending on the employee’s age. This life insurance plan covers the employee only; there is no coverage available for family members.

Coverage is a condition of employment if you meet the eligibility requirements.

In addition to benefits payable in the event of death, this plan provides the following benefits:

  • If an employee is terminally ill with a life expectancy of 12 months or less, they may receive up to the full amount of your coverage prior to their death.
  • Conversion of coverage to an individual policy at the end of employment or ineligibility. Continuation of group policy coverage when terminating employment for either a WRS retirement or disability as outlined in the UIA Plan Certificate.
  • Access to the Lifestyle Benefit Program through Securian Financial which offers legal, financial and grief resources, travel assistance, legacy planning resources and beneficiary financial counseling to all active, State of Wisconsin employees. This program is offered free of charge and no enrollment is required. Click here for more information.
The University Insurance Association Life Insurance Plan (Group Policy #32872-G) is administered by the University Insurance Association Board and is underwritten by Securian Financial Group. Additional information on the University Insurance Association Board can be accessed under the section titled UIA Board.

Eligibility

Employees must meet the following requirements to be eligible for this plan:

  • Have a Faculty, Academic Staff, or Limited appointment; and
  • Meet the minimum monthly salary threshold ($2,658 for the 2018-2019 plan year, effective 10/1/18); and
  • Are not receiving a Wisconsin Retirement System (WRS) annuity.

These requirements must be met as of October 1st of each year to be eligible.

Enrollment

If an employee meets the eligibility criteria for a given year, enrollment is automatic and no application is required.

Coverage is effective October 1st, provided requirements are met and premium is paid.

If employment starts after October 1st, you must wait until the following year for enrollment.

Coverage Levels

Coverage level is based on employee’s age as of October 1st of the prior year.

Coverage Levels
Under 28 $101,000 49-51 $22,600
28-30 98,100 52-54 17,200
31-33 90,900 55-57 13,100
34-36 78,900 58-60 10,300
37-39 65,000 61-63 8,200
40-42 50,900 64-66 6,100
43-45 39,100 67-69 4,500
46-48 30,000 70+ 3,400
Age as of October 1 Benefit Amount Age as of October 1 Benefit Amount

Beneficiary Information

Employees are encouraged to designate a beneficiary(ies) to ensure benefits are paid according to their wishes. Whenever an employee has a life event, such as a marriage, divorce, birth of a child, beneficiary designations should be reviewed and updated. Beneficiary designations can be changed at any time.

For more information on beneficiary designations, see the Beneficiary Information page.

UIA Board

The University Insurance Association (UIA) Board represents all UW System employees who are members of the University Insurance Association. The Board administers the decreasing term life insurance offered by the UIA. Faculty, Academic Staff and Limited appointees, who meet the annual eligibility requirements for membership, are automatically considered members of the UIA and are covered by the decreasing term life insurance administered by the UIA Board.

The University Insurance Association and the UIA Board were established in 1939 to promote the welfare of the public employees of the University of Wisconsin engaged in teaching, research, or administration by providing life insurance to its members. The life insurance is meant to supplement retirement benefits that may provide inadequate protection to the families of employees who die before retirement or after a short period of service.

The University Insurance Association (UIA) Board consists of nine employees elected by the members of the UIA. The normal term of each appointment is three years, and the terms are staggered to provide continuity to the function of the Board. The UIA Board membership list can be accessed here.

Benefit Premiums

The annual premium for the University Insurance Association life insurance plan is $24.00 and is deducted from October earnings. The UW System does not contribute to the premium.

Eligible employees on a leave of absence are billed for the annual premium of $24.00 by the UW Service Center. Premium must be remitted either through payroll deduction or direct payment by December 1st of the current year or coverage will end as of September 30th of the current year with no option of conversion.

Forms & Resources

 


last updated: 2/19/2019

 

 

 

 

 

Every effort has been made to ensure this information is current and correct. Information on this page does not guarantee enrollment, benefits and/or the ability to make changes to your benefits.