Long Term Disability

Long Term Disability (LTD) Insurance is one of the most important components of your employee benefits program. The LTD program provides income replacement and protection against long-term loss of income due to injury or illness.

An employee who is out of work for an extended period of time can prove costly to the employer and employee alike. The risk is greater than many think. Current statistics show 3 out of 10 working individuals between the ages of 25 and 65 will become disabled for 90 days or longer.

The Council's Employee Benefits Group LTD program generally provides a benefit of 60% of salary to a specified monthly maximum. This benefit level allows a disabled employee to maintain his or her current way of life during recovery while providing an incentive to return to work.

Features of the Group Life Insurance program include:

• Contract provisions that provide return-to-work incentives
• Functional approach to claim management that focuses on an employee's abilities, not limitations
• Independent physician review model to help ensure more fair objective claim decisions
• No self-reported condition limitations or prudent person language in contract
• Easy integration with STD, Family and Medical Leave Act Administration and WC programs
• Flexible benefit features, including Family Care Expense Credit, Workplace Modification Benefit and Extended Earnings Protection Benefit
• Ability Assist® provides support to insured employees, claimants and their family members - included at no extra cost

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The Council's Employee Benefits Group offers a competitively priced Long Term Disability program which is uniquely tailored to the needs of member firms with 1-9 employees.

Plan Highlights

• Coverage for total and partial disability
• Benefit integration options
• Choice of elimination periods

Programs Offered

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Rates

The following table provides the rates as well as an explanation of how to calculate monthly costs.

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• Determine which plan you would like for your company.
• Determine monthly salary for each employee¹.
• Determine age of each of your employees as of the desired effective date. For example, if you want your plan to start July 1st, it would be the age of each employee as of July 1st.
• Divide each employee's monthly salary by 100 and multiply by their age banded rate to determine their montly cost.
• Add the monthly cost for all employees to determine the cost for the group.

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Member firms with 10 or more employees can have the following plan highlights included in their Long Term Disability Benefit Plan:

• Infectious and Contagious Disease Benefit
• Business Protection Rider
• Extended Earnings Benefit
• Accidental Dismemberment and Loss of Sight
• Cost of Living Adjustment
• Contributory, Voluntary and Core buy-up plans available
• Ability Plus replaces up to 100% of monthly income for severe disabilities.

Additional Options

The Council's Employee Benefits Group offers additional plan designs that can be tailored specifically to meet the needs of your employees. Please contact the Council's Benefits Group to discuss your options.

Rates

Please contact a representative of the Council's Employee Benefits Group to receive a personalized quote.

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This information is not intended for use without professional advice. While we have attempted to make this site as accurate as possible, it is only a summary. For more information, see our disclaimer.

Last updated on:  Monday, January 30, 2006  Page: 

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