Make Sure You Have the Right Disability and Life Insurance Coverage

Your Total Rewards include basic disability and life insurance coverage paid by OU Health. You may elect to add “supplemental” insurance at low group rates. Now is a good time to decide whether you and your family could use more than the company-paid protection from an unexpected loss of your income.

OU Health pays the full cost of:

  • Basic life insurance equal to 1.5* times your base annual salary (Coverage reductions begin at age 65.)
  • Basic accidental death and dismemberment (AD&D) insurance equal to 1.5* times your base annual salary.
  • Short-term disability insurance that continues to pay all or a part of your salary for up to 26 weeks when you can’t work due to a covered illness or disability. (Benefit can only begin after you have completed 90 days of employment.) The chart below shows the daily benefit amounts for each week of your salary continuation period.
*Two (2) times annual salary for Director level and above.

Supplemental Coverage Options

OU Health offers supplemental employee and dependent life insurance, accidental death and dismemberment (AD&D) and disability insurance options so you can elect more financial protection to “supplement” the fully company-paid basic life, AD&D and short-term disability coverage.

You pay for the coverage at low group rates through convenient after-tax paycheck deductions. When you go to Workday to enroll, you will see what options are available and your cost per paycheck.

If you want any supplemental coverage, you must enroll within 30 days following your hire date. After your new-hire enrollment period, you can add or drop coverage in these plans during annual benefits Open Enrollment or if you have a qualifying life event.

Supplemental Employee Life Insurance
Full-time employees may elect coverage equal to one, two, three, four or five times your base annual salary subject to certain limitations. (Part-time employees may elect a $15,000 flat amount of coverage.)

Dependent Life Insurance
You may elect life insurance for your:

  • Spouse with a benefit up to 50% of your employee life insurance amount. (If your spouse is aged 70 or older, the maximum coverage is $10,000 for full-time employees and $7,500 for part-time employees.)
  • Child(ren) with a benefit up to $10,000. (Part-time employees can elect up to $5,000. For full-time employees only, if the child is six months or younger, the benefit is limited to $5,000.)

Accidental Death and Dismemberment Insurance (AD&D)
You may elect coverage equal to one, two, three, four or five times your base annual salary. You receive from 50% to 100% of your coverage amount, depending on the type of loss. AD&D benefits are paid if you become seriously injured or physically disabled. AD&D benefits are paid in addition to any life insurance benefit.

Long-Term Disability Insurance
Full-time employees may elect long-term disability (LTD) insurance of 50%, 60% or 66-2⁄3% of base annual salary.* LTD benefit payments begin 180 days after the date you became disabled. (Short-term disability benefits are available for the first 180 days.) LTD payments continue until you are no longer disabled or until you reach normal retirement age (if earlier). The maximum monthly LTD payment is $25,000.

*Part-time employees are not eligible to elect LTD insurance. Executives receive company-paid LTD insurance coverage equal to 66-2⁄3% of base annual salary (subject to the monthly maximum benefit amount).

Be sure to name your beneficiaries!

When you visit Workday to enroll, be sure you’ve selected a beneficiary for all of your insurance policies.

Back to new hire enrollment checklist

NEW HIRE ENROLLMENT CHECKLIST

*You must enroll by 5 p.m. CT on the 30th day following your date of hire for coverage in a health plan, FSA, HSA, legal services plan, and/or supplemental, critical illness, hospital indemnity and/or accident insurance plan to take effect on your hire date. Otherwise, you waive coverage in these plans until the next Open Enrollment (or until you have a qualifying life event, if sooner).

Be sure to name your beneficiaries!

When you visit Workday to enroll, be sure you’ve selected a beneficiary for all of your insurance policies.