Disability Coverage
ABC Company provides you with Long-term Disability (LTD) at no cost to you. You have the opportunity to purchase Short-term Disability (STD) at favorable group rates. These plans provide protection against the loss of your income in the event you are unable to work due to a health condition or injury.
The STD plan does not pay benefits for work-related accidents or illnesses covered by Workers’ Compensation. STD and LTD benefit payments are offset by other sources of income you may receive, such as Social Security disability benefits.
| Plan Feature | LTD | STD |
|---|---|---|
| Period before benefit begins | 90 days | 7 days |
| Benefit | 60% of monthly earnings | 55% of monthly earnings |
| Maximum Benefit | $15,000 monthly | $1,100 weekly |
| Duration of Benefit | To retirement age | Up to 13 weeks |