Types of Benefits

Types of Benefits

There are two types of travel accident insurance coverage:

Accidental Death Benefit

The Travel Accident Insurance Plan will pay your benefit amount to your chosen beneficiary in the event of your accidental death while traveling on authorized University business.

When you begin your employment with the University, you will be asked to name your beneficiary on a Designation of Beneficiary Form provided by Human Resources. You may change your beneficiary at any time by completing a new form.

Accidental death benefits are normally paid in a lump sum of cash. However, your beneficiary may choose to have all or part of the death benefit deposited to an individualized account established by the insurance carrier. Checks may be written against this account to withdraw funds as needed.

Accidental Dismemberment Benefit

If you are seriously injured in an accident while traveling on authorized University business, the plan will pay you:

• 100% of your benefit amount for the loss of both feet, both hands, the sight of both eyes, both speech and hearing, or any combination of two of the following: a hand, a foot, or the sight of an eye
• 50% of your benefit amount for the loss of one foot, one hand, the sight of an eye, speech, or hearing
• 25% of your benefit amount for the loss of a thumb and index finger on the same hand

Loss means complete and irrecoverable loss.

The plan will pay benefits for the above losses only if they are incurred as a direct result of, and within one year after the date of, an accident that occurred while traveling on authorized University business.

Accidental dismemberment benefits are normally paid in a lump sum of cash. However, you may choose to have all or part of your accidental dismemberment benefit deposited to an individualized account established by the insurance carrier. You may write checks against this account to withdraw your funds as needed.