Overview

The loss of income due to illness or injury can cause serious financial hardship. Disability insurance replaces a portion of your income to help you continue paying your bills and meeting your financial obligations during this difficult time.

Short-term disability insurance (STD)

  • Coverage begins on the 8th day of injury or illness.
  • Pays 66.67% of your pre-disability earnings*, up to a maximum of $2,771 per week.
  • Benefits end after 13 weeks (90 days).

* Pre-disability earnings are calculated as your current base salary.

Long-term disability insurance (LTD)

  • Coverage begins after you have been disabled for 13 weeks (90 days).
  • Pays 66.67% of your pre-disability earnings*, up to a maximum of $12,000 per month.
  • Benefits end once you reach Social Security Normal Retirement Age, if you are disabled prior to age 62. If you are disabled after age 62, benefits may be reduced.

LTD buy-up

  • For employees with annual wages more than $216,000, you have the option to purchase additional LTD coverage. The benefit is similar to the basic LTD plan as you will receive 66.67% of your pre-disability earnings. The buy-up plan enhances the basic LTD amount to increase the total maximum benefit up to $20,000 per month to help replace a portion of your income. Benefits begin after 90 days of disability or illness.

How does long-term disability insurance work?