|LONG TERM DISABILITY INSURANCE PLAN|
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Why is Disability Insurance important?
Disability can be the single most catastrophic event in a person's life, clouding the future with confusion and uncertainty.
A long term disability raises questions such as:
PLAN SPECIFICS:Gross Monthly Benefit
Note: During the first 12 months of Monthly Income Benefits, your Monthly Income Benefit will not be reduced by any current monthly employment earnings until the gross monthly benefit plus your current monthly employment earnings exceed 100% of your pre-disability Basic Monthly Earnings. Your Monthly Income Benefit will then be reduced by that excess amount. In no event will your Monthly Income Benefit plus Other Income be greater than your predisability Basic Monthly Earnings.
Basic Monthly Earnings - your monthly salary or wage on the day before the date you became disabled. It does not include bonuses, commissions or overtime pay. For Partial Disability, Basic Monthly Earnings are indexed. To determine indexed Basic Monthly Earnings, your predisability Basic Monthly Earnings are increased by 5% on the one-year anniversary of your first benefit
Survivor Benefit - 3 times the gross monthly benefit, subject to any necessary adjustments
Minimum Monthly Income Benefit - The greater of $100 or 15% of the Gross Monthly Income Benefit
Benefit Waiting Period - 60 days
This plan includes a Disability Waiver of Premium Benefit. If you become totally disabled before age 60 and can not work, the insurance premiums may be waived. You must first satisfy certain conditions.Maximum Benefit Period
This is a summary of benefits only. A complete description of benefits and limitations will be provided in the certificate of coverage.
Underwritten by ReliaStar Life Insurance Company
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