224-770-5305

BENEFITS & COSTS

IBEW Local 995

Summary of Benefits & Costs

Benefits are made available to full time, actively working Members of IBEW Local 995.

For quick and easy enrollment, call Cornerstone at 224-770-5305 (M-F 8am-5pm CST)

Critical Illness Coverage

  • Pays a lump sum benefit directly to the individual
  • Covers critical health events such as heart attack, cancer, stroke, COVID, kidney failure and more
  • Members can elect either a $10,000 or $20,000 Benefit
    • Spouse can be covered at 50% of member election
    • Dependent Children are covered at 50% of member election at no additional cost
  • Includes a $50 Health Screening Benefit
Member Coverage

Rates are locked at the age you enroll.

Low Option: $10,000
Age Monthly Premium
< 30 $8.87
30 – 39 $12.79
40 – 49 $21.97
50 – 59 $40.03
60+ $73.01
High Option: $20,000
Age Monthly Premium
< 30 $14.21
30 – 39 $22.06
40 – 49 $40.41
50 – 59 $76.55
60+ $142.50

* Member must enroll in order to elect spouse coverage.

Spouse Coverage*

Rates are locked at the age you enroll.

Low Option: $5,000
Age Monthly Premium
< 30 $6.19
30 – 39 $8.16
40 – 49 $12.74
50 – 59 $21.78
60+ $38.27
High Option: $10,000
Age Monthly Premium
< 30 $8.87
30 – 39 $12.79
40 – 49 $21.97
50 – 59 $40.03
60+ $73.01

* Member must enroll in order to elect spouse coverage.

Accident Coverage

  • Pays a lump sum benefit directly to the individual
  • Guaranteed Approved coverage
  • No pre-existing limitations
  • Includes a Wellness Benefit of up to $30 for covered preventive screening
  • Covers injuries including: fractures, burns, concussions, dislocations, lacerations, etc.
  • Covers services including: ER visit, x-ray, MRI, anesthesia, crutches, stitches, casts, etc.
Options and Rates
Coverage Monthly Premium
Member $12.95
Member & Spouse $19.71
Member & Child $25.93
Family $32.69

Life and Accidental Death & Dismemberment (AD&D)

  • Guaranteed approved coverage for Member, spouse, and children. NO pre-existing condition limitations
    • All life coverage includes an equal amount of AD&D. If death is caused by an accident, benefit doubles
  • Member coverage from $10,000-$150,000 (in $10,000 increments)
    • Spousal/child coverage is available when Member life coverage is elected
  • Spousal coverage from $5,000-$25,000 (in $5,000 increments), not to exceed 100% of member election
  • Child(ren) eligible for a flat $10,000 of coverage. All eligible children are covered for $3.16 per month
  • Life coverage is convertible & portable

Please Note: Life/AD&D guaranteed amounts may be lower or not offered at future open enrollments for those Members that do not enroll initially

Life and AD&D Benefit and Monthly Premium
Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
Member Monthly Premium: Can be elected in increments of $10,000
$10,000 $3.29 $3.44 $4.88 $8.59 $16.06
$50,000 $8.45 $9.20 $16.40 $34.95 $72.30
$100,000 $14.90 $16.40 $30.80 $67.90 $142.60
$150,000 $21.35 $23.60 $45.20 $100.85 $212.90
Spouse Monthly Premium: $5k increments. Based on Member Age.
Can’t exceed 100% of Member’s Life Election.
$5,000 $2.63 $2.71 $3.43 $5.28 $9.02
$25,000 $5.15 $5.53 $9.13 $18.40 $37.08
Child(ren)/Dependent(s) Monthly Premium
$10,000 All children covered at one cost of 3.16
IMPORTANT NOTE:

If you leave the union or retire it is your responsibility to contact our office immediately at (847) 387-3555. Failure to do so within 30 days will forfeit your ability to keep coverage and receive any premium refunds. Premium is determined by your age on the coverage effective date, and will increase on the next policy anniversary date after you enter the next age band. Benefit effective dates are subject to change. The IBEW does not make any endorsement or recommendations regarding these benefits. This program is voluntary and It is solely the Members’ decision to enroll. This is a basic summary of benefits and makes no guarantee or warranty on the processing of claims. Other limitations may apply. It is recommended that each enrolled Member obtain a copy and read the entire policy booklet. All non-banking administrative and transaction fees are included in the enclosed premiums.

Time Left to Enroll

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Enrollment Ends 10/15/2021
Coverage Begins 11/1/2021