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MissJones
I need a nap!
Member since 5/05 22136 total posts
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NYC Teachers-Let's get technical and talk benefits
We had a UFT meeting today and some perks/benefits were brought up and I thought it would be smart to share what we have to protect ourselves and give any new teachers some wisdom!
Putting your money into the TRS is automatic, but make sure you also put some money into the TDA. This you have to sign up for.
In terms of Health Insurance, I have GHI and then added the optional rider.
I also have the Catastrophic Insurance through NYSUT/Marsh.
I have a small Life Insurance policy for me, but I want to get one for DH, too.
I heard about a death policy through the UFT but I don't know if that is automatic.
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Posted 1/19/10 7:53 PM  |
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Re: NYC Teachers-Let's get technical and talk benefits
Death policy is automatic...do you mind if I ask what you pay for catastrophic? Debating on that one..also, did you get the life insurance through UFT? Is it term or other? TIA!
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| Posted 1/19/10 8:24 PM |
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MissJones
I need a nap!
Member since 5/05 22136 total posts
Name:
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Re: NYC Teachers-Let's get technical and talk benefits
It's term LI and it's through the same Marsh UFT co. I will bring in the paper tomorrow. I don't pay a lot at all. I think the LI and catastroph. policy are about $7 per check, IF THAT!
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| Posted 1/19/10 8:55 PM |
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donegal419
St. Gerard, pray for us.
Member since 7/07 7650 total posts
Name:
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Re: NYC Teachers-Let's get technical and talk benefits
DH and I do a full life insurance policy through NYSUT. it's a great deal and it's NOT term.
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| Posted 1/20/10 5:07 PM |
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MissJones
I need a nap!
Member since 5/05 22136 total posts
Name:
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Re: NYC Teachers-Let's get technical and talk benefits
Really? Is that also through the marsh company? I'd be interested in that.
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| Posted 1/21/10 6:16 AM |
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happytobreathe
The Lazy Days of Summer
Member since 10/06 1413 total posts
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Re: NYC Teachers-Let's get technical and talk benefits
What is the difference between term LI and non-term LI. Would you suggest going through the UFT?
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| Posted 1/21/10 5:26 PM |
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donegal419
St. Gerard, pray for us.
Member since 7/07 7650 total posts
Name:
K
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Re: NYC Teachers-Let's get technical and talk benefits
Posted by happytobreathe
What is the difference between term LI and non-term LI. Would you suggest going through the UFT?
term life insurance is only good for its term. so say for example you have a $1,000,000 TERM policy that's good for 30 years. once the 30 years are up and hopefully, you and DH and whoever else is insured with it are still alive, you get NADA, ZILCH, ZERO. it's like paying a preimum for 30 years (or whatever the term is, and prvided you don't die, you get nothing for it. however, many people do go this route because the premiums are much cheaper.
WHOLE life (non-term) is very different. it is good for the life of the insurer and essentially, it is an investment because no matter when you die, you get the benefit. many poilicies also cash out after a certain time you get what your policy is worth. i am probably not explaining it the best, but look it up. financially and investment it is the much smarter way to go, but the premiums are higher than term.
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| Posted 1/21/10 10:49 PM |
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