Do not forget to sign up for your Employee Benefit Systems supplemental plans.
EBS is currently visiting Lockheed Martin site on December 4th – 8th & December 11th – 12th. If you miss seeing EBS, they will be at the Union Hall on December 13th & 14th from 2:00pm – 5:00pm.
The program is offered to members at the worksite and premiums for the policies are payroll deducted by the employer. Those products include:
Permanent Life insurance – Available to members, their spouse, dependent children and grandchildren. Members can purchase life insurance regardless of their health and the cost of their policy will never go up nor will their benefits go down.
Catastrophic Loss rider -Attaches to the Life insurance policy and provides monthly benefits if an insured loses two of the five activities of daily living.
Critical Illness insurance – Available to members and their families. This policy provides a lump sum benefit of $15,000, $25,000, or $50,000 should an insured have a heart attack, stroke, cancer, organ transplant, end stage renal failure, coronary artery bypass, Alzheimer’s disease, loss of sight, speech or hearing, coma, paralysis, severe burns, and/or benign brain tumor.
Humana Insurance Company – Cancer Insurance available to members and their families. Benefits are paid directly to the insured while being treated for cancer. These benefits are over and above the benefits paid from the member’s major medical plan.
Accident Plan – Available to members and their families. This policy helps offset loss of income due an accident. Coverage is provided for accidents that occur on or off the job.
|Disability Income – Available to all members who are actively at work. Provides tax-free benefits to offset a loss of income while out of work due to a qualifying disability.
Hospital Indemnity – Customized to the deductible and out of pocket limit in each employer’s health insurance plan. Benefits designed to help with those out of pocket costs.
***Insurance products must be filed and approved by each State’s Department of Insurance. Policy provisions in your state may be slightly different than the provisions shown on this website.
All of the policies, with the exception of the disability income policies, are fully portable, meaning members keep the same cost and benefits if they leave employment or retire. Premiums are then paid directly to the insurance company. As an added benefit, each policy contains a Strike Waiver of Premium provision, which keeps policies in effect in the event of a strike without paying any premium.
The beauty of the Machinists Custom Choices Worksite Benefits program is that it allows members to select the benefits that are best suited for their own particular needs and fund those benefits through payroll deduction. As the program does not create an economic factor for the employer, adding the Custom Choices program to labor contracts is attractive to both the union and employer.
Source: EBS, INC