Page 19 - Benefits Guide
P. 19
Disability Insurance Long Term Disability
Have you considered what would happen if you couldn’t go to work as a (100% Company
result of a disabling illness or accident? Disability insurance goes to work Paid)
when you can’t. Sometimes your circumstances are
considered long term and mean
Short Term Disability (Voluntary) greater inancial stress and hardship
for your family . Our company
If you are unable to work due to a sickness or injury, short term disability provides a company paid long term
insurance assists in maintaining your standard of living. It can help you disability (LTD) policy to ensure
pay bills like your mortgage, tuition and car payments, and help cover your inancial protection for a longer
period of time when necessary . In
expenses for food, clothing, and utilities. By replacing a portion of your the event of an illness or accident
income, short term disability insurance can help provide inancial security which lasts more than 90 days, you
until you get back on your feet and return to work. are eligible for a beneit equal to
60% of your monthly salary, up to a
You may enroll for short term disability coverage through Principal. maximum of $10,000 per month .
The plan covers 60% of your pre-disability earnings up to $1,500 per Disability beneits are subject to
week. You must be disabled due to sickness or injury for 14 days and applicable taxes and are offset
beneits will be payable on the 15th day and continue for as long as you by any other income or disability
are disabled up to 11 weeks. If you do not elect coverage when initially beneits you receive (or are eligible
to receive), such as Social Security
eligible and later decide to elect coverage, you must complete EOI and and workers’ compensation .
be approved by Principal. The cost of the plan is determined by your age
and paid 100% by you with after tax dollars which means any beneit you
receive is paid to you tax-free. As you enroll online through ADP, the
system will automatically calculate the cost of coverage based on your age.
In order for coverage to be effective, you must be actively at work on the
date coverage is effective.
Age Range Monthly Rate per $10
0–24 $0 .59
25–29 $0 .70
30–34 $0 .45
35–39 $0 .35
40–44 $0 .18
45–49 $0 .13
50–54 $0 .18
55–59 $0 .21
60–64 $0 .25
65–69 $0 .27
70+ $0 .29
myNEXUS 19
Have you considered what would happen if you couldn’t go to work as a (100% Company
result of a disabling illness or accident? Disability insurance goes to work Paid)
when you can’t. Sometimes your circumstances are
considered long term and mean
Short Term Disability (Voluntary) greater inancial stress and hardship
for your family . Our company
If you are unable to work due to a sickness or injury, short term disability provides a company paid long term
insurance assists in maintaining your standard of living. It can help you disability (LTD) policy to ensure
pay bills like your mortgage, tuition and car payments, and help cover your inancial protection for a longer
period of time when necessary . In
expenses for food, clothing, and utilities. By replacing a portion of your the event of an illness or accident
income, short term disability insurance can help provide inancial security which lasts more than 90 days, you
until you get back on your feet and return to work. are eligible for a beneit equal to
60% of your monthly salary, up to a
You may enroll for short term disability coverage through Principal. maximum of $10,000 per month .
The plan covers 60% of your pre-disability earnings up to $1,500 per Disability beneits are subject to
week. You must be disabled due to sickness or injury for 14 days and applicable taxes and are offset
beneits will be payable on the 15th day and continue for as long as you by any other income or disability
are disabled up to 11 weeks. If you do not elect coverage when initially beneits you receive (or are eligible
to receive), such as Social Security
eligible and later decide to elect coverage, you must complete EOI and and workers’ compensation .
be approved by Principal. The cost of the plan is determined by your age
and paid 100% by you with after tax dollars which means any beneit you
receive is paid to you tax-free. As you enroll online through ADP, the
system will automatically calculate the cost of coverage based on your age.
In order for coverage to be effective, you must be actively at work on the
date coverage is effective.
Age Range Monthly Rate per $10
0–24 $0 .59
25–29 $0 .70
30–34 $0 .45
35–39 $0 .35
40–44 $0 .18
45–49 $0 .13
50–54 $0 .18
55–59 $0 .21
60–64 $0 .25
65–69 $0 .27
70+ $0 .29
myNEXUS 19
