Voluntary benefits provide employees who are regularly scheduled to work at least 20 hours per week with additional financial protection. For 2024, if you’d like to cancel your Accident, Critical Illness or Hospital Indemnity Insurance or Identity Theft Protection, you must call the Teva Benefits Service Center at (800) 979-1733, complete the proper forms and send them directly to the carrier.

What to Know

Some voluntary benefits are designed to complement your coverage under the Teva medical plan. Before you enroll, be sure the voluntary benefits you’re electing meet your physical and financial needs.

  • The Aetna Accident Plan helps to fill financial gaps caused by expenses related to an injury caused by a covered accident.
  • Cash benefits are paid directly to you, no matter what is covered by your medical plan or any other insurance.
  • Benefits are paid for initial and follow-up care, medical imaging, X-rays, dislocations, fractures, physical therapy and more.
  • Benefits can be used to pay expenses like coinsurance, deductibles, or everyday expenses like your mortgage, child care, or groceries. It’s up to you.
  • Your plan also includes a health screening benefit for a covered preventive test. See the attached benefit summary for details of coverage, including limitations and exclusions.
  • Plan Summary
  • The Aetna Critical Illness Plan can help you protect your finances if you are diagnosed with a covered serious condition.
  • Cash benefits to you if you are diagnosed with a heart attack, stroke, end stage renal failure, invasive cancer and more.
  • You can use the money to help cover your deductible or for everyday expenses like utility bills, mortgage payments and groceries. It’s up to you.
  • Your plan also includes a health screening benefit for a covered preventive test. See the attached benefit summary for details of coverage, including limitations and exclusions.
  • Plan Summary
  • Hospital Indemnity Insurance through Reliance Standard pays cash to help enhance your current medical coverage if you are hospitalized as a resident bed patient due to a covered sickness or for injuries received in a covered accident.
  • There are two plan options: the Standard Plan and the High Plan. Costs of coverage are based on your election and whom you choose to cover.
  • Plan Summary
  • Identity Theft Protection through NortonLifeLock protects your digital life in an always-connected world. Everyday things like online shopping, banking and internet browsing can expose personal information to cybercriminals.
  • When you enroll in coverage through Teva, you can receive Benefit Essential or Benefit Premier protection at a discount for yourself and/or your family (both spouse and child(ren) are covered in the Family Plan).
  • There are some plan differences, but both plans provide monitoring of personal information and records, proactive alerts by email, phone or text when an identity theft is in progress and help canceling and replacing the contents of a lost wallet or purse.
  • You will also receive complete identity restoration and reimbursement of up to $1 million for stolen funds.
  • To enroll, your personal information (primary personal or mobile phone, personal email or dependent Social Security numbers) must be on file with the Teva Benefits Service Center. Without this information, NortonLifeLock cannot offer Identity Theft Protection to you and your family.
  • Visit Teva’s Employee Central (EC) to update your personal information. Dependent information can be updated directly on mytevabenefits.com.
  • Teva provides the opportunity to purchase group Whole Life Insurance with LTC administered by Unum for for you, your spouse or domestic partner and your children. This benefit provides coverage and costs that don’t change and more flexibility for how you choose to use the benefit during your life.
  • Coverage comes with a long-term care rider that gives you options for how you choose to use your benefit.
  • Coverage for you:
    • You can elect from $10,000 to $100,000. Coverage amounts are in $10,000 increments.
    • Premiums are based on age and tobacco use.
  • Coverage for your spouse/domestic partner:
    • You must elect coverage for yourself to elect coverage for your spouse/domestic partner.
    • You can elect from $10,000 to $30,000 in coverage. Coverage amounts are in $10,000 increments.
    • Coverage comes with a long-term care rider that gives you options for how you choose to use your benefit.
    • Premiums are based on age and tobacco use.
  • Coverage for your child(ren):
    • You must elect coverage for yourself to elect coverage for your child(ren).
    • You can elect from $5,000 to $20,000 in coverage for your child(ren). Coverage amounts are in $5,000 increments.
  • If you are currently enrolled in Whole Life with LTC, you can elect to keep your current benefit, enroll in this additional plan or both.
  • See the 2024 Benefits Guide, FAQ, Plan Comparison Chart and Unum Presentation for more details.
  • Excess Liability Insurance through Chubb helps cover damages and costs, up to $20 million, when you or a dependent may be legally responsible.
  • The coverage begins when the amount you are required to pay from a covered lawsuit judgment exceeds the limits of liability under your other insurance policies.
  • Supplements auto, homeowners and watercraft policies that may not provide enough coverage in the event of a serious loss.
  • This benefit is only available to grade 10 and above.
  • When elected during Annual Enrollment, the full-year premium will be deducted from the first paycheck of the year. For new hire or qualified life event elections, the pro-rated premium will be deducted in full from the first or second paycheck after your elections are confirmed.
  • Plan Summary
  • Supplemental Individual Disability Insurance (IDI) through Unum is for employees grade 10 and above, and it can only be elected during Annual Enrollment.
  • Supplemental IDI can complement your existing basic Long-Term Disability (LTD) coverage offered at no cost to you.
  • If you qualify, the current LTD benefit begins when Short-Term Disability (STD) coverage ends. The LTD plan pays 60% of base salary, up to a reduced $15,000 per month.
  • This “buy-up” option allows for more income protection by providing a maximum benefit of 75% of base salary, target bonus and target commission, up to $15,000 in addition to the existing group LTD insurance you automatically receive from Teva.
  • This benefit is only offered once a year during the Annual Benefits Enrollment period each fall.

Farmers Insurance Choice offers multiple quotes from highly-rates carriers, convenient payment options and personalized service when you apply to purchase auto, home and other property and liability insurance through Farmers. For more information call (800) 438-6381 or visit farmersinsurancechoice.com/teva.