Long Term Disability provides protection in the event of illness or injury resulting in your inability to work. This coverage provides a monthly benefit that partially replaces income lost during periods of disability resulting from a covered injury, physical disease, pregnancy, or mental disorder. The LTD benefit replaces 60% of a disabled employee's monthly pre-disability earnings as defined in the group policy, subject to a $100 minimum and $6,000 maximum benefit (offset by any deductible income such as, but not limited to, FRS, Social Security, vacation pay, sick pay, workers compensation, etc.)
Highlights of plan:
- 90 day benefit waiting period
- Benefit level 60% of first $10,000 of monthly predisability earnings reduced by Deductible Income.
- Maximum benefit $6,000 monthly before reduction by Deductible Income
- Minimum benefit $100 monthly
- Disability Provisions include Own Occupation and Any Occupation
- Waiver of premium while on approved LTD
- Plan is age and salary based and deductions will automatically increase based on a salary increase or 5 year age band.
See Group Long Term Disability Insurance Certificate for exclusions and limitations.
LTD Certificate of Coverage to Long Term Disability
LTD is an after-tax plan which allows enrollment or cancellation at any time during the year. Enrollments outside of the open enrollment period are subject to medical underwriting. See Group Long Term Disability Insurance Certificate for plan benefits, exclusions and limitations.
|
