Long Term Disability insurance provides a cash benefit after you are out of work for 90 days or more due to injury, illness, or surgery.
Monthly Benefit Amount
- Monthly Benefit Amount is equal to 60% of your monthly salary, limited to $5,000 per month.
- Minimum Monthly Amount: $100 or 10% of the Insured Employee’s Monthly Benefit, whichever is greater.
Elimination Period – 90 Days
- Benefits begin on the 91st day of disability and coverage continues to age 65 or Social Security Normal Retirement Age, whichever is later.
- Sick Leave MUST be exhausted first, before disability benefits are payable.
Benefit Summary – Long Term Disability
- The Policy will not cover any Total or Partial Disability: which is caused or contributed to by, or results from a Pre-Existing Condition; and which begins in the first 12 months after the Insured Employee’s Effective Date of coverage.
- “Pre-Existing Condition” means a Sickness or Injury for which the Insured Employee received treatment within
3 months prior to the Insured Employee’s Effective Date of coverage.
- “Treatment” means consultation, care or services provided by a Physician. It includes diagnostic measures and
the prescription, refill of prescription, or taking of any prescribed drugs or medicines.