Protecting You & Your Loved Ones
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Financial wellness can impact both your physical and behavioral health. That’s why we provide several benefits, education and guidance to help you secure your long-term financial well-being.
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In this email, you’ll find information on:
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Life insurance is a fundamental part of having a sound financial plan. In the event of your death, life insurance helps your family replace your income. The money can be used to cover daily living needs, as well as debts like your mortgage, credit cards, car loans, etc. While it may feel like another bill right now, it’s important to think of life insurance as an investment in your loved ones who count on you.
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Purdue-paid life insurance
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Purdue automatically provides term life insurance coverage to benefit-eligible employees equal to 1.5x your annual budgeted salary, rounded up to the nearest $1,000.
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Employee-paid life insurance
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You may choose to elect additional life coverage at 1-8x your annual salary in addition to the coverage provided by Purdue. While research shows that most people should add more life insurance, nearly 60% of our employees DO NOT have additional life coverage. Additional life insurance may require evidence of insurability. For details, click here.
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Benefit Scout is an educational tool provided by Securian that is designed to help you understand and make decisions about your life insurance benefits.
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Virtual Workshop: Essential Insurance for Smart Life Planning
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Sept. 29, 2021, 12-1 pm.
- Presented by Securian Financial, the workshop will cover why life insurance matters, coverage options and costs, how to enroll and more.
Register here by Sept. 28.
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Disability insurance replaces a portion of your income when you can't work. If you were unable to work due to illness or injury, disability insurance can help to pay for essential expenses, including food, utilities, school tuition, mortgage and car payments.
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Provides 65% income replacement during long periods of illness or injury resulting in temporary or permanent disability
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Automatic, mandatory enrollment upon hiring for 65% of your salary
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Planning and saving for retirement is an important responsibility throughout your working years. We offer multiple plans, and eligibility is based on the job role you have at Purdue.
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Purdue Standard Retirement and Savings Plan (PSRS)
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Tenure-track Faculty, Management, Professional, Executives
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Purdue Matching Retirement and Savings Plan (PMRS)
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Service, Support, Operations/Technical (closed group) hired 9/9/2013 and after
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Road to Retirement: Sept. 22-24, 2021
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Road to Retirement is a special program for Purdue employees held twice a year. Regardless of where you may find yourself on your journey to retirement, this program contains helpful information on financial wellness. Take advantage of these live and pre-recorded offerings over the course of the three-day event.
Check out the Road to Retirement webpage for more information.
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Accident-related expenses, medical treatment, hospitalization, diagnostic testing, follow-up care, transportation/lodging
- Eligible: You, your spouse or children
- Provider: Voya
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Automotive or homeowners coverage and a wide range of other property and casualty insurance products
- Eligible: You
- Provider: Liberty Mutual
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Payable when diagnosed with covered critical illness (i.e. heart attack, stroke, cancer)
- Eligible: You, your spouse or children
- Provider: Voya
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Hospital stays due to accident or illness
- Eligible: You, your spouse or children
- Provider: Voya
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Broader life insurance that builds cash value and has withdrawal and loan options
- Eligible: You, your spouse or children
- Provider: Transamerica
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