(224) 770−5305

BENEFITS & COSTS

IBEW Local 150

Summary of Benefits & Costs

Benefits are made available to full time, actively working Members of IBEW Local 150.

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

Short-Term Disability (STD)

  • Benefit pays for up to 24 weeks
  • Pays a flat weekly benefit of either $250 or $500
  • Pays on day 15 for injury or illness
  • Pre-existing conditions are covered after 12 months
  • Covers off the job disabilities resulting from injury or illness
  • Stackable with other benefits up to 100% of pre-disability earnings
  • Benefits paid are tax free
Weekly Benefit
Weekly Benefit Age < 30 Age 30-34 Age 35-39 Age 40-44 Age 45-49 Age 50-54 Age 55-59 Age 60-64 Age 65-69
$250 $11.90 $12.75 $13.63 $15.28 $18.30 $22.08 $27.00 $29.45 $38.45
$500 $20.80 $22.50 $24.25 $27.55 $33.60 $41.15 $51.00 $55.90 $73.90

Long-Term Disability (LTD)

  • Pays after 180 day waiting period (starts when STD ends)
  • Pays a monthly benefit of 60% of your pre-disability earnings for up to 5 years
  • Pre-existing conditions are covered after 12 months
  • Covers on and off the job disabilities resulting from injury or illness
  • Offset by other benefits
  • Benefits paid are tax free
Monthly Benefit and Monthly Premium
Annual Earnings Max Monthly Benefit Age < 24 Age 25-29 Age 30-34 Age 35-39 Age 40-44 Age 45-49 Age 50-54 Age 55-59 Age 60-64
$50,000 $2,500 $6.55 $7.37 $9.82 $12.80 $20.42 $32.55 $46.07 $71.67 $73.68
$60,000 $3,000 $7.26 $8.25 $11.19 $14.76 $23.91 $38.46 $54.69 $85.41 $87.81
$70,000 $3,500 $7.97 $9.12 $12.55 $16.72 $27.39 $44.37 $63.30 $99.14 $101.95
$80,000 $4,000 $8.68 $10.00 $13.92 $18.68 $30.88 $50.28 $71.92 $112.88 $116.08
$90,000 $4,500 $9.39 $10.87 $15.28 $20.64 $34.36 $56.19 $80.53 $126.61 $130.22
$100,000 $5,000 $10.10 $11.75 $16.65 $22.60 $37.85 $62.10 $89.15 $140.35 $144.35
$110,000 $5,500 $10.81 $12.62 $18.01 $24.56 $41.33 $68.01 $97.76 $154.08 $158.49
$120,000 $6,000 $11.52 $13.50 $19.38 $26.52 $44.82 $73.92 $106.38 $167.82 $172.62

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 the benefit doubles
  • Member coverage of $25,000 or $50,000
    • Spousal/child coverage is available when Member life coverage is elected
  • Spousal coverage of $5,000 or $10,000, not to exceed 100% of Member election
  • Child(ren) eligible for a flat $10,000 of coverage. All eligible children are covered for $2.39 per month
  • Life coverage is convertible and portable
Life and AD&D Benefit and Monthly Premium
Benefit Age < 30 Age 30-34 Age 35-39 Age 40-44 Age 45-49 Age 50-54 Age 55-59 Age 60-64 Age 65-69
Member Monthly Premium
$25,000 $4.45 $4.75 $5.25 $6.63 $9.00 $13.33 $20.08 $25.85 $38.90
$50,000 $6.90 $7.50 $8.50 $11.25 $16.00 $24.65 $38.15 $49.70 $75.80
Spouse Monthly Premium: Based on Member age. Can’t exceed 100% of Member’s Life election.
$5,000 $2.49 $2.55 $2.65 $2.93 $3.40 $4.27 $5.62 $6.77 $9.38
$10,000 $2.98 $3.10 $3.30 $3.85 $4.80 $6.53 $9.23 $11.54 $16.76
Child(ren)/Dependent(s) Monthly Premium
$10,000 All children covered at one cost of $2.39

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 $15,000 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 Non Smoker Monthly Premium Smoker
< 30 $8.34 $10.45
30 – 39 $11.60 $16.36
40 – 49 $19.59 $29.09
50 – 59 $35.06 $54.94
60+ $64.32 $99.06
High Option: $15,000
Age Monthly Premium Non Smoker Monthly Premium Smoker
< 30 $10.74 $13.92
30 – 39 $15.64 $22.79
40 – 49 $27.62 $41.87
50 – 59 $50.84 $80.65
60+ $94.73 $116.83
Spouse Coverage*

Rates are locked at the age you enroll.

Low Option: $5,000
Age Monthly Premium Non Smoker Monthly Premium Smoker
< 30 $5.93 $6.99
30 – 39 $7.56 $9.94
40 – 49 $11.55 $16.30
50 – 59 $19.29 $29.23
60+ $33.92 $51.29
High Option: $7,500
Age Monthly Premium Non Smoker Monthly Premium Smoker
< 30 $7.13 $8.72
30 – 39 $9.58 $13.15
40 – 49 $15.57 $22.69
50 – 59 $27.18 $42.08
60+ $49.12 $75.18

* 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 and more
  • Covers services including ER visit, x-ray, MRI, anesthesia, crutches, stitches, casts and more
Options and Rates
Coverage Monthly Premium
Member $13.38
Member & Spouse $20.58
Member & Child $27.18
Family $34.39
How Does the Coverage Work?

Amount payable was generated based on benefit amounts for: Closed-fracture of the thigh ($2,400), ambulance to hospital ($200), Emergency Room admission ($125), X-ray ($50), medical devices (crutches) ($50), and physician follow-up ($25).

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 11/19/2021
Coverage Begins 12/1/2021