SABBATICAL LEAVE BOND
If you’re a certificated school employee, you're eligible for a sabbatical leave of absence to do research or further your education in your field. But before you jump at this great opportunity, you’ll need to get a Sabbatical Leave Bond.
School districts require this bond as insurance on your leave. It guarantees the school will be reimbursed for the salary it pays you during the leave if you don’t return to work. The amount of your bond is equivalent to your salary during the leave period.
Cost
$15 per $1,000 of the bond amount, rounded to the next whole dollar.
How Much a Sabbatical Leave Costs | |
|---|---|
| Bond amount | $35,950.00 |
| /$1,000 | $35.95 |
| x15 | $539.25 |
| Rounded to the next whole dollar | $539.00 |
| Premium for a $35,950 bond | $539.00 |
When to Apply
In order begin your sabbatical, you'll need to have secured a bond, so it’s important to apply as early as possible.
Refunds
Your bond is refundable if you don’t take your leave, as long as you notify us before your leave is scheduled to begin.
GET A QUOTE
Call 800.462.8328 ext. 4389
Monday through Thursday, 9 a.m. – 5 p.m.
Friday, 9 a.m. – 6 p.m.
Saturday, 9 a.m. – 3p.m.
Contact an insurance agent by sending an email to insurance@schoolsfirstfcu.org.
Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.
CA Insurance License 0707104
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