Long Term Care Administered by Unum
LSU partners with Unum to provide you and your family with valuable Long-Term Care coverage at affordable rates. There are many options to choose from, including duration, amount, and inflation. You may select coverage for yourself, your spouse, your parents and/or grandparents, as well as your spouse’s parents and/or grandparents.
Whether it’s due to an accident or a serious illness, Long-Term Care is the type of insurance you may need if you couldn’t independently perform the basic activities of daily living: bathing, dressing, using the toilet, transferring from one location to another, continence and eating, or if you suffered severe cognitive impairment from a condition such as Alzheimer’s disease. Long-Term Care insurance may help you avoid a far more difficult decision of whether to exhaust your savings or liquidate your assets to pay for a period of long-term care.
Who Can I Cover?
Yourself as the Employee or Retiree, your spouse, your parents and/or grandparents and your spouse’s parents and/or grandparents may enroll in this plan. Coverage for retirees, your parents or grandparents is contingent upon them completing an Evidence of Insurability application and being approved by underwriting. If you do not enroll for guaranteed coverage as a New Hire, you must undergo Evidence of Insurability if you decide to pick up this coverage at a later date.
What is the Cost?
The premium varies by age, duration, monthly coverage amount, and inflation. Note that the premium is based on the age in which you enroll. If you begin coverage as a 35 year old, your premium will always be based on that age. For more information on the premiums and different options available, please see the Cost Calculator located on the UNUM website.
How is Eligibility for Benefits Determined?
The plan specifies two measures of functional capacity to determine eligibility for benefits. The first is the ability to perform routine day-to-day activities on your own. The second is based on cognitive skills. Benefits are payable if you are under the care of a physician and you lose the ability to perform at least 2 of the 6 specified “Activities of Daily Living” (ADL) or when you suffer a cognitive impairment that requires stand-by assistance or verbal cuing to ensure your own protection or the protection of others. The specified ADLs are bathing, dressing, toileting, moving from place to place, continence, and eating. ADL loss must occur while you are insured.