Four things educators come here for. What each one does, what it costs you, and where the tradeoffs are — in plain language.
Most districts give teachers eight to ten paid sick days. After those are gone, the plan is a leave bank, a committee, and whatever days colleagues can spare.
Certain policies carry living benefit riders that can pay a portion of the death benefit early if a qualifying illness or injury keeps you out of the classroom. The money arrives while you are alive and you decide what it covers — the mortgage, the car, the copays, groceries.
Availability, qualifying conditions and amounts depend entirely on the policy and rider. Using a benefit early reduces what is left for your family.
A death benefit pays the people who depend on you if you die while the policy is in force. For most educators that means the mortgage keeps getting paid and a spouse is not making decisions about the house in the worst month of their life.
Your district may already provide a small amount of group life — often one times salary, sometimes a flat $10,000 or $20,000. Most teachers have never been told the number. It is worth asking your benefits office either way.
Some coverage is available on health questions alone. No blood draw, no urine sample, no nurse coming to your house, and no afternoon of sub plans so you can sit in a waiting room.
Non-medical options run up to $500,000 and to age 75 depending on the carrier. Whether you qualify for that route depends on the amount you want and your answers — an agent can tell you which door is open to you before you apply.
Group coverage through a district generally ends the day the job does. Change districts, move states, retire, or take a year out, and the protection you thought you had goes with the badge.
A policy you own is yours. The premium is set by your age when it is issued and it does not reset because your employer changed. Certain designs also build cash value over time, which you may be able to borrow against.
Charges reduce policy value. Loans and withdrawals reduce the death benefit. Ask for an illustration showing premiums, charges and guaranteed values.
The same three situations, played out both ways.
| If this happens | District coverage only | Coverage you own |
|---|---|---|
| A qualifying illness keeps you out for months | Paid sick days, then the leave bank, then unpaid | A living benefit may pay you directly while you are alive |
| You change districts or move states | Group coverage generally ends with employment | The policy is yours and goes with you |
| You die while employed | Often one times salary, sometimes a flat $10–$20k | The amount you chose, paid to the people you named |
| You retire | Coverage usually stops or shrinks sharply | In force as long as premiums are paid |
| You want to know what it costs | Open enrollment, once a year | A 60-second screening and one call |
Four benefits, and the number attached to each one depends on your age and your state. A screening surfaces yours in about a minute.
See What Teachers Qualify For →