Well I just got another solicitation from Sonny Hall for STD.
They give away our 80 day IOD bank so they can try to rip us off with their BS insurance scam.
The 80 day IOD bank cost us nothing and could pay out a total of $22400 over 4 months.
Between the ages of 18-54 we would have to pay $265.20 per year for a plan that would only pay out $6000 if we were out of work for 8 or more months.
$0 for $22400 of coverage
$265.20/year for $6000 of coverage
Looks like another TWU AADVANTAGE!!!
As is typical from the TWU ATD much of the information given is misleading and incomplete.
For instance;
"One in three Americans will become disabled for at least 90 days before retirement age."
Ok, but how many could expect to be disabled over 100 days? How many for 8 months? Etc? Of those "one in three" how many are from Drug and alchohol or mental disorders that the plan only gives limited benifits. What are those "limited benifits"?
Of those "one out of three" how many are from physical disabilities? Human beings tend to heal quickly. People getting triple bypass surgery are often back to work in a matter of weeks, not months. Broken bones usually take around six weeks at most.
This plan pays out only after 30 days of disability or 60 sick days. So in order to see the full $6000 worth of coverage you would have to be disabled 8 months!
The two year or 24 month cap on rates started 17 months ago, June 1, 2002. So rates can go up in 7 months. Why would they say 24 months starting back then, were they hoping that most would just see 24 months? How would you like it if you were buying a car and the dealer said that you were getting a one year warranty that started 9 months ago? Isnt that really a three month warrantty?
According to the pitch "This program has paid more than $25,000,000 ,,, since 1990".
OK that $1.7 million a year, or $17 per TWU member. Less than one members one month of payroll deduction for the plan.
How much have they collected since 1990?
Once again, in typical TWU fashion Sonny Hall tries to sell us a deal of questionable value with a minimal amount of information.
By their own numbers there is at best only a 33% chance that you will ever see a penny from this plan. What are the chances that you will recover what you pay into the plan? They could only be less. The odds are that at $265.20 per year over the course of your career you would pay more into the plan than you could collect. Its like paying $10 for a Lottery ticket where the jackpot is $5.
While the odds for most insurance scams are that you will pay in more than you get out, usually the potential payout, even though its remote is is more than you would pay in. To pay $265/year for $6000 worth of coverage is not a good deal.
Why is it that most of the mail that I get from our union concerns sales, not services? Am I paying two hours pay per month to be put on their "sales" lists? Life insurance, LTD, STD, credit cards, I get enough of this crap for free!! Why am I paying two hous pay per month, in other words working for at least three hours per month to serve as a customer base for TWU sponsored insurance scams?
If only our union would put as much effort into getting us decent contracts instead of selling us insurance for coverage that they give away then maybe they would not have to worry about PAFCA, AMFA and the AGW.
We need a union, not an insurance broker!
They give away our 80 day IOD bank so they can try to rip us off with their BS insurance scam.
The 80 day IOD bank cost us nothing and could pay out a total of $22400 over 4 months.
Between the ages of 18-54 we would have to pay $265.20 per year for a plan that would only pay out $6000 if we were out of work for 8 or more months.
$0 for $22400 of coverage
$265.20/year for $6000 of coverage
Looks like another TWU AADVANTAGE!!!
As is typical from the TWU ATD much of the information given is misleading and incomplete.
For instance;
"One in three Americans will become disabled for at least 90 days before retirement age."
Ok, but how many could expect to be disabled over 100 days? How many for 8 months? Etc? Of those "one in three" how many are from Drug and alchohol or mental disorders that the plan only gives limited benifits. What are those "limited benifits"?
Of those "one out of three" how many are from physical disabilities? Human beings tend to heal quickly. People getting triple bypass surgery are often back to work in a matter of weeks, not months. Broken bones usually take around six weeks at most.
This plan pays out only after 30 days of disability or 60 sick days. So in order to see the full $6000 worth of coverage you would have to be disabled 8 months!
The two year or 24 month cap on rates started 17 months ago, June 1, 2002. So rates can go up in 7 months. Why would they say 24 months starting back then, were they hoping that most would just see 24 months? How would you like it if you were buying a car and the dealer said that you were getting a one year warranty that started 9 months ago? Isnt that really a three month warrantty?
According to the pitch "This program has paid more than $25,000,000 ,,, since 1990".
OK that $1.7 million a year, or $17 per TWU member. Less than one members one month of payroll deduction for the plan.
How much have they collected since 1990?
Once again, in typical TWU fashion Sonny Hall tries to sell us a deal of questionable value with a minimal amount of information.
By their own numbers there is at best only a 33% chance that you will ever see a penny from this plan. What are the chances that you will recover what you pay into the plan? They could only be less. The odds are that at $265.20 per year over the course of your career you would pay more into the plan than you could collect. Its like paying $10 for a Lottery ticket where the jackpot is $5.
While the odds for most insurance scams are that you will pay in more than you get out, usually the potential payout, even though its remote is is more than you would pay in. To pay $265/year for $6000 worth of coverage is not a good deal.
Why is it that most of the mail that I get from our union concerns sales, not services? Am I paying two hours pay per month to be put on their "sales" lists? Life insurance, LTD, STD, credit cards, I get enough of this crap for free!! Why am I paying two hous pay per month, in other words working for at least three hours per month to serve as a customer base for TWU sponsored insurance scams?
If only our union would put as much effort into getting us decent contracts instead of selling us insurance for coverage that they give away then maybe they would not have to worry about PAFCA, AMFA and the AGW.
We need a union, not an insurance broker!
