Page 16 - 2020 Stein Mart Weekly Benefits
P. 16
DISABILITY INCOME INSURANCE
If you are unable to work due to a sickness or injury, Disability Income Insurance through
Lincoln Financial can help you maintain your standard of living
by paying a portion of your income until you can get back on your
feet and return to work. This coverage includes both Short Term
Disability (STD) and Long Term Disability (LTD) Benefits.
3/12 Pre-Existing Conditions and Exclusions
Any disability that occurs within the first 12 months of coverage
and is caused by a pre-existing condition will not be covered. The
pre-existing condition is anything you were diagnosed or received
treatment for 3 months prior to your effective date of coverage.
Short Term Long Term
Benefit Features
Benefit Payout 60% of hourly rate (based on 40 hours) 60% of hourly rate (based on 40 hours)
Benefit Maximum Up to $400 per week Up to $1,200 per month
When Benefit Begins 8th day of disability 91st day of disability
When Benefit Ends Once medically released, or Once medically released, or upon
on 90th day of disability reaching Social Security Retirement Age
Benefit Payout Weekly Payout Monthly Payout
Follow the steps Step 1 Step 1
to calculate each Multiply your hourly rate by 40: __________ Multiply your hourly rate by 2,080: _________
disability benefit Step 2 Step 2
payout. Multiply Step 1's answer by 0.60: ________ Divide Step 1's answer by 12: ____________
Step 3 Step 3
Compare result from Step 2 to $400. Divide Step 2's answer by 0.60: __________
Write the lower amount in the line: _______
Step 4
Compare result from Step 3 to $1,200.
Write the lower amount in the line: ________
Associate Weekly Rates
Short Term Disability Long Term Disability
Follow the steps to Step 1 Step 1
calculate your weekly Multiple your result from Compare result from Step 2
rate OR logon to Step 3 (above) by 0.0466: ______________ (above) to $2,000. Write the
lower amount in the line: ________________
www.myworkplace.net Step 2
to have the system Multiply Step 1's answer by 12: __________ Step 2
automatically calculate Multiple Step 1's answer by 0.00636: ______
your rate. Step 3
Divide Step 2's answer by 52: ___________ Step 3
Multiply Step 2's answer by 12: ___________
Step 4
Divide Step 3's answer by 52: ____________
Weekly Store and Weekly Corporate Associates 13
Department Merchandise Managers For 2020 Benefits
If you are unable to work due to a sickness or injury, Disability Income Insurance through
Lincoln Financial can help you maintain your standard of living
by paying a portion of your income until you can get back on your
feet and return to work. This coverage includes both Short Term
Disability (STD) and Long Term Disability (LTD) Benefits.
3/12 Pre-Existing Conditions and Exclusions
Any disability that occurs within the first 12 months of coverage
and is caused by a pre-existing condition will not be covered. The
pre-existing condition is anything you were diagnosed or received
treatment for 3 months prior to your effective date of coverage.
Short Term Long Term
Benefit Features
Benefit Payout 60% of hourly rate (based on 40 hours) 60% of hourly rate (based on 40 hours)
Benefit Maximum Up to $400 per week Up to $1,200 per month
When Benefit Begins 8th day of disability 91st day of disability
When Benefit Ends Once medically released, or Once medically released, or upon
on 90th day of disability reaching Social Security Retirement Age
Benefit Payout Weekly Payout Monthly Payout
Follow the steps Step 1 Step 1
to calculate each Multiply your hourly rate by 40: __________ Multiply your hourly rate by 2,080: _________
disability benefit Step 2 Step 2
payout. Multiply Step 1's answer by 0.60: ________ Divide Step 1's answer by 12: ____________
Step 3 Step 3
Compare result from Step 2 to $400. Divide Step 2's answer by 0.60: __________
Write the lower amount in the line: _______
Step 4
Compare result from Step 3 to $1,200.
Write the lower amount in the line: ________
Associate Weekly Rates
Short Term Disability Long Term Disability
Follow the steps to Step 1 Step 1
calculate your weekly Multiple your result from Compare result from Step 2
rate OR logon to Step 3 (above) by 0.0466: ______________ (above) to $2,000. Write the
lower amount in the line: ________________
www.myworkplace.net Step 2
to have the system Multiply Step 1's answer by 12: __________ Step 2
automatically calculate Multiple Step 1's answer by 0.00636: ______
your rate. Step 3
Divide Step 2's answer by 52: ___________ Step 3
Multiply Step 2's answer by 12: ___________
Step 4
Divide Step 3's answer by 52: ____________
Weekly Store and Weekly Corporate Associates 13
Department Merchandise Managers For 2020 Benefits
