Life Insurance: Ups' Employee Benefits And Coverage Options

UPS offers a comprehensive benefits package to its employees, including healthcare, retirement pensions, and tuition assistance. In addition to these standard benefits, UPS also provides life insurance to its employees, which is an attractive perk for those seeking financial security for themselves and their families. UPS's life insurance offering is worth exploring for those interested in working for the company or already employed by UPS. The company's life insurance plan is reportedly highly regarded by employees, with some highlighting its ease of application and long-term benefits.

UPS life insurance: employee reviews

UPS life insurance is a sought-after benefit for employees, with 314 employees reporting it as a benefit. The life insurance plan is available to both full-time and part-time employees and is said to be easy to apply for. Employees have the option to purchase more coverage if desired.

Reviews from UPS employees on Glassdoor give an insight into their experience with the company's life insurance offering. One employee, a current air driver in Dallas, TX, gives a positive review, stating that UPS has "good life insurance" that is "easy to apply" for. Similarly, a current packer in Doraville, GA, mentions that the life insurance benefit is excellent for the long term after retirement. A current marketing manager in Atlanta, GA, also mentions that they have "heard [the life insurance] is pretty good".

A current team leader in Medellín, Colombia, highlights that the life insurance plan is included in the law benefits and is available even for part-time employees. This is further supported by a current UPS preload in Davenport, FL, who mentions that the life insurance is "awesome" after 9 months and can cover your entire family at a low cost. A current supervisor in South Milwaukee, WI, also confirms that it is a "good life insurance plan" and that there is an option to add on coverage.

Overall, UPS life insurance appears to be a valuable benefit for employees, with positive reviews highlighting its ease of application, long-term benefits, and availability to part-time employees.

UPS life insurance: what's included

UPS offers a range of benefits to its employees, including life insurance. The company provides an industry-leading benefits package that supports the physical, financial, and emotional well-being of its team and their families.

Life Insurance Benefits

UPS offers life insurance benefits to both full-time and part-time employees. The life insurance coverage is provided through the union and is available even to those working part-time. The plan is reportedly of great benefit in the long run, especially after retirement.

Additional Benefits

In addition to life insurance, UPS provides a variety of other benefits to its employees, including:

• Healthcare: UPS offers comprehensive healthcare benefits, including medical, dental, and vision coverage, with $0 in premiums for full- and part-time union employees. The company also has a Prescription Drug Program and Clinical Services & Vision Program.
• Education/Tuition Assistance: UPS offers tuition assistance programs to help employees with their educational development, including college, technical, and trade schools.
• Paid Time Off: UPS provides paid vacations, holidays, and option days. Employees also get an average of 18 additional days off, including sick leave.
• Pension: UPS offers a pension plan for its full-time and part-time Teamsters-represented employees, which is a rarity today, especially for part-time workers.
• Employee Discounts: UPSers have access to discounted employee stock purchase plans and employee discounts with top retailers.
• Competitive Salaries: UPS offers highly competitive hourly wages, salaries, and total compensation plans, ensuring its employees are among the best-paid in the industry.

Overall, UPS prioritizes its employees' well-being and offers a comprehensive benefits package to support them throughout their careers and beyond.

UPS life insurance: eligibility

UPS offers a range of benefits to its employees, including life insurance. The company provides an industry-leading benefits package that includes healthcare, pensions, tuition assistance, paid vacations, and more.

When it comes to life insurance, specifically, UPS offers a good plan that is available to both full-time and part-time employees. The life insurance benefit is provided through the union, and employees have reported that it is easy to apply.

Eligibility for UPS benefits, including life insurance, is based on the number of hours worked. Part-time employees who work 225 or more hours in a three-month eligibility determination period are eligible for TeamstersCare benefits, which include medical care, pharmacy and prescription drugs, and an Employee Assistance Program (EAP). If a part-time employee works 400 or more hours in the same period, they will receive the same benefits as full-time employees during the corresponding three-month coverage period.

Overall, UPS offers comprehensive benefits, including life insurance, to support the physical, financial, and emotional well-being of its employees. The company recognises the importance of providing benefits to all employees, regardless of their employment status, and ensures that part-time employees have access to the same benefits as their full-time counterparts.

UPS life insurance: how to apply

UPS offers life insurance to its employees, and it has been described as a good plan. The life insurance is provided through the union and is available to part-time employees. Employees can also add on to their plan.

To apply for UPS life insurance, you will first need to be a UPS employee. UPS is currently hiring over 125,000 seasonal workers, and nearly 75% of these positions do not require an interview. Most applicants will get a job offer in just 10 minutes by applying at UPSjobs.com.

Once you are a UPS employee, you will need to work for the company for nine months before your life insurance benefits kick in. During this time, you can familiarise yourself with the details of the life insurance plan and decide if you would like to add on to your coverage.

If you are a part-time employee, your eligibility for benefits will differ from that of a full-time employee. Part-time employees must work 225 or more hours in a three-month eligibility determination period to qualify for TeamstersCare benefits, which include medical care, pharmacy and prescription drugs, and an employee assistance program. Full-time employees must work 400 hours in the same period to be eligible for benefits.

UPS offers an industry-leading benefits package to its full- and part-time union employees, including healthcare with $0 in premiums, a pension, tuition assistance, and paid vacations, holidays, and option days.

UPS life insurance: alternatives

UPS offers life insurance as part of its benefits package for employees. However, if you are looking for alternatives to this, there are several options available.

Income Protection Insurance

This type of insurance provides a monthly, tax-free income if you are unable to work for an extended period due to illness or injury. It can provide financial support while you are unable to work and is available in terms of 12-60 months, paying between 50%-70% of your earnings.

Guaranteed Coverage Plan

A guaranteed coverage plan does not require a medical exam or records and generally has an age limit of 50-80 years old. It is a good alternative if you have been denied standard life insurance due to medical factors, but it can have high premiums and a limited death benefit, typically capped around $25,000.

Critical Illness Insurance

Critical illness insurance provides a tax-free lump sum if you develop a life-threatening illness. Its primary purpose is to replace lost income, and some policies have no waiting period, allowing immediate access to funds for treatment or living expenses during recovery. Coverage amounts vary, typically ranging from $5,000 to $75,000, depending on the premiums.

Accidental Death and Dismemberment (AD&D) Insurance

AD&D insurance covers fatal accidents or the accidental loss of a limb. It does not consider your medical history or lifestyle choices, making it an option if you work in a hazardous occupation or have been disqualified for life insurance. It provides a tax-free lump-sum payment, with the payout depending on the situation.

Mortgage Protection Insurance

Mortgage protection insurance pays off the remaining balance of your mortgage if you pass away or become disabled. The payout goes directly to your mortgage lender, ensuring your loved ones do not lose their home. However, it does not cover other expenses such as property taxes or homeowners insurance.

Pre-paid Funeral Plan

A pre-paid funeral plan covers the expenses associated with a funeral, typically ranging from $10,000 to $25,000. It alleviates the financial burden on beneficiaries, who often use life insurance payouts for this purpose.

These alternatives to UPS life insurance can provide financial security and peace of mind, ensuring that you and your loved ones are protected in the event of illness, injury, or death.

Frequently asked questions