WAICU has sponsored a members-only Group Life and Disability Insurance Program since 1993.  The premium rates are based on the Program’s claims experience, which has been very favorable.  As a result, there have been five rate decreases over the past 31 years, with no rate increases.

Members can tailor any or all of the group life, voluntary life, short term disability and long term disability insurance benefits to meet the needs of each WAICU member and their employees.  Because of the Program’s collective purchasing power, there are benefits automatically included that are not likely to be available outside of the WAICU Program.  Examples include:

• Maximum monthly group long term disability protection up to $18,233/month
• Group life waiver of premium if an employee is disabled prior to age 67, rather than the usual maximum eligibility of age 60
• Guaranteed issue voluntary life benefits of $150,000 per employee, and $30,000 per spouse, with no minimum participation requirements

Standard Insurance Company also includes excellent ancillary benefits, including an Employee Assistance Program (EAP) for the benefit-eligible employees of WAICU members who provide group long term disability insurance, as part of their high quality coverage for all participating WAICU members.

Program Contacts

Martin Pepe
Martin.Pepe@m3ins.com
(262) 524-4184

To contact WAICU about the program, email collaboration.info@waicu.org.

WAICU partners with The Coalition for College Cost Savings to utilize several of their cost-saving collaborative programs. The Long Term Care Insurance program is one of those affiliate programs.

AffinityLTC, The Coalition’s endorsed broker, has specialized in providing Long Term Care insurance solutions to private, non-profit, higher education for over 15 years. AffinityLTC first partnered with The Coalition in 2008 to offer John Hancock and then Genworth group LTCi products with unique benefits and limited underwriting to higher education clients and their families.

The Coalition is pleased to announce that AffinityLTC has a new group LTC offering available to Coalition members. This program is available to WAICU members due to WAICU’s membership in the Coalition.

Features include:

• Allstate Benefits: A+ rated carrier.
• Utilizes Life Insurance with a LTC rider which eliminates the “use it or lose it” drawback of a traditional LTC product.
• Completely voluntary program for employees ages 18-80. Full-time and part-time/adjuncts working 20+ hours per week are eligible.
• True Guarantee Issue with benefit up to $175,000 for employees ages 18-70. (Simplified Issue for ages 71-80).
• Can be set up as direct billing or payroll deduction.
• Easy turnkey enrollment – driven towards online employee assisted enrollment – no agent pressure.

AffinityLTC contact: For more information or to see what this would look like for your employees contact Amy Ewbank at amy@affinityltc.com or Julie Clevenger at julie@affinityltc.com

To contact WAICU about the program, email collaboration.info@waicu.org.

The WAICU Retirement Readiness Plan (WRRP) was established by WAICU members in 2018. WAICU institutions can offer employees better retirement options and reduce institutional risk associated with sponsoring their own plans. By merging into the Collaboration, WAICU institutions access higher quality services, lower fees, and administrative support typically only available to much larger plans.

Collaboration Vendors and Partners

• WAICU – Plan Administrator, Plan Sponsor, and Management Services
• Transamerica – Recordkeeper, Custodian of Assets, and Participant Communication & Education
• Advanced Capital Group – Investment Advisor & Manager

Benefits of Merging

• Reduce
  • Fees paid by participants
  • Fiduciary liability – no longer sponsor a plan
  • Administrative burden
• Increase
  • Quality of services and support
  • Employee education
  • Collaborative peer support
  • Transparency in fees and funds – open architecture
• Continue
  • One-on-one participant retirement consultation
  • Flexibility in employer plan decisions
  • Church plan status if applicable

WRRP Contact
Jennifer deHart
WAICU Chief Operating Officer
jennifer.dehart@waicu.org
(608) 204-5226

To contact WAICU about the program, email collaboration.info@waicu.org