What Is a Beneficiary? A beneficiary is a person (or entity) who is designated to receive the benefits of property owned by someone else. A beneficiary can be designated in the documents relating to a life insurance policy, a retirement account, a brokerage account, a bank account, and other financial products. It's important to designate beneficiaries for your … [Read more...] about Naming a beneficiary: Are yours updated?
The new voluntary short-term disability plan is especially beneficial to employees with low current sick/vacation leave balances. Do you know your balance? Did you know that should you become ill or injured and unable to work, that the University-provided Long-term disability (LTD) plan has a 26-week elimination period? That means, you would need to be off work for at least … [Read more...] about Protect your income with short-term disability.
What is Open Enrollment? Open enrollment is the annual period during which you can elect/decline/or make changes to your medical, dental, vision, and cafeteria/flexible spending plans for the upcoming calendar year. Flexible spending elections must be elected annually. Additionally, our Term life carrier is providing guaranteed issue and we have a new supplemental short term … [Read more...] about Reminder- Open enrollment, virtual benefits fair, and wellness incentive opportunity ends Dec 1.
There are different Life insurance policies designed to protect your family. They fall into two main categories: term and permanent. Term policies- Like the name implies are good for a set period (term) of time. On the open market, these policies are usually purchased in 20- or 30-year term periods, while those provided by employers are based on term of employment. Term … [Read more...] about Is all Life Insurance the same? Find out what is right for you.
Special enrollment opportunities. New Short Term Disability benefit and New Life insurance carrier. Short Term Disability: MSU is excited to offer a new voluntary benefit. We are pleased to announce Hartford has been selected to offer short term disability coverage. Short-term disability is designed to protect income when an employee cannot work because of an off-the-job … [Read more...] about Benefit changes that benefit you!