Long Term Disability (LTD)

Long Term Disability (LTD) Insurance protect your most valuable asset....Your Income.

Are You Protected Against The Possibility of Disability? While no one thinks he or she will become disabled, it happens more often than you think. One out of every seven employees will suffer a disability that lasts five years or longer. The Long Term Disability Insurance makes sure you have a steady income while you are disabled.

What Does "Disability" Mean?
Long Term Disability Insurance (LTD) protects you against losses associated with total disability. A total disability is defined as the period of time during which the Insured is completely unable to engage in his or her occupation or any other gainful work or service for which he or she is reasonably fitted by education, training, or experience.

What Does The Plan Pay in Benefits?

• The plan pays benefits from $500 to $2,500 a month. See the chart below.
• These payments are in addition to income you may be receiving from other coverage's, sick leave, or retirement pay.
• The Plan will pay benefits beginning on the 181st day (after six months) of disability and can continue until age 60.
• After 180 days of disability, the plan will waive your premiums.
• The benefit period for disability resulting from mental and nervous disorders is limited to two years.
• The Plan will pay benefits only if the Insured is under the professional care and regular attendance of a legally qualified physician.

Partial Disability

• Your LTD Plan covers a percentage of your disability income, once the elimination period is satisfied.  You are eligible for a benefit if you can work part-time or full-time and earn at least a percentage of your pre-disability income.

What Is Not Covered?
The Plan will not pay benefits for any disability that results from:

• An act of declared or undeclared war or armed aggression
• Intentionally self-inflicted injuries or sickness (or attempted suicide) while sane or insane.
• Attempting or commission of a felony for which you have been charged under state or federal law.
• Service in the military, naval, or air services.

Exclusions
This plan has a pre-existing condition exclusion.  Disabilities that occur during the first 12 months of coverage due to a pre-existing condition during the 12 months prior to coverage are excluded.

Who Is Eligible?
All employees working full time who are U.S. citizens and under age 60 are eligible to apply for this coverage. Because this insurance is made available only to those employees who are considered preferred risks, this plan is limited to eligible employees who have no disqualifying physical impairments. Dependents may not be covered under this plan.

What Does This Kind of Coverage Cost?
The rates for LTD coverage are very reasonable, when you consider they ensure you of a continual income if you become disabled and can't work. For example, if you are age 35, and have an annual salary of $90,000 you can insure yourself for a monthly income of $2,000 for $21.55 a month or $258.60 a year.

Can Your Coverage Be Canceled?
Once coverage has been approved, your coverage cannot be canceled unless:

• You are no longer an employee
• You reach age 60
• The master policy is canceled

Termination of Coverage
Coverage terminates on the last day of the month in which the insured's resignation or retirement is effective, or when the insured employee attains age 60. The insured may cancel coverage by submitting a written request to Compass Rose Benefits Group.

This voluntary cancellation will be effective on the last day of the month after receipt of the request.

How Do I Apply for Coverage?
If you wish to apply for LTD coverage or change the level of coverage you currently have, fill out the application form available on the links above. Applications may be submitted at any time. Coverage will be effective the first day of the month after approval by Mutual of Omaha.

Premiums for LTD will be collected via a monthly debit deduction from your checking or savings account.