Long Term Disability (LTD)(Mandatory)
LTD coverage can help protect your income in the event you become disabled and unable to work. Choices includes three LTD options designed to supplement other sources of disability income that may be available to you:
- 60% of pay, following 180 days of disability
- 66-2/3% of pay, following 180 days of disability
- 66-2/3% of pay, following 120 days of disability
The three LTD options differ in terms of the amount of your pay they replace; when benefits become payable; and premium costs. Employees may increase coverage during annual enrollment. However, the increase in coverage will be subject to a pre-existing condition exclusion for disabilities occurring during the first 12 months that the increase in insurance is effective. Any coverage existing for at least 12 months prior to the increase will not be subject to the pre-existing condition exclusion.
Employees on a leave status may not be eligible for long term disability coverage.
Please consult with your Human Resources Department.
|Long Term Disability|
|Option 1||60% of pay/180 days waiting period|
|Option 2||66 2/3 of pay/180 days waiting period|
|Option 3||66 2/3 of pay/120 days waiting period|
Who is Eligible:
Employee Only (May increase one level of coverage during annual benefit enrollment,
if you are eligible and in an active work status).
Who May Enroll:
Amount of Benefit:
Option 1: 60% of pre-disability earnings, to a maximum benefit of $9,200 per month. The minimum monthly benefit is the greater of $100 or 10% of your LTD benefit before reduction by deductible income.
Option 2: 66-2/3% of pre-disability earnings, to a maximum benefit of $9,200 per month. The minimum monthly benefit is $100 or 10% of your LTD benefit before reduction by deductible income.
Option 3: 66-2/3% of pre-disability earnings, to a maximum benefit of $9,200 per month.
The minimum monthly benefit is $100 or 10% of your LTD benefit before reduction by
Do you have Other Disability Income
The level of LTD coverage you select ensures that you will continue to receive a percentage of your base pay each month if you become totally disabled.
Some of the money you receive may come from other sources, such as Social Security, Workers’ Compensation, or other group disability benefits. Your Choices LTD benefit will be offset by any amounts you receive from these sources. The total combined income will equal the benefit level you selected.
This is a brief summary provided to help you understand your coverage. Please review the group insurance certificate containing a detailed description of the insurance coverage including the definitions, exclusions, limitations, reductions and terminating events.This information can be found at: www.standard.com/mybenefits/mus