Page 16 - NH Non NC Guide
P. 16
Voluntary Long Term Disability
Long term disability (LTD) protects your family by providing you
with a percentage of your income while you are disabled for a longer
period than short-term disability would otherwise cover. This voluntary
coverage is offered through Unum. The LTD plan will pay 50 percent
of your gross wages up to a maximum beneit of $5,000 per month.
Payments will begin after you have been totally disabled for 90 days.
Those eligible continue to receive LTD beneits until they reach Social
Security normal retirement age. The cost of the plan is paid on a post-
tax basis so beneits will be paid tax-free.
If you do not elect coverage during this initial enrollment period
and you would like to elect coverage at a later date, you must provide
evidence of insurability and be approved by Unum.
LTD Premium Example
As you go online to enroll on the MG+BW Lockton Marketplace
website, the cost of coverage will automatically be calculated based
on your age as of the date of your employment and your current base
salary. The example below is for someone in the 40–44 age group.
$12 hourly rate * 40 hours = $480 * 52 weeks = $24,960
$24,960/12 months = $2,080/100 = $20.80 * $1.04 = $21.63 monthly premium
LTD Rates per $100 of Covered Payroll
Age 50%
<25 $0.16
25–29 $0.25
30–34 $0.42
35–39 $0.67
40–44 $1.04
45–49 $1.37
50–54 $1.74
55–59 $2.01
60–64 $2.12
65–69 $2.06
70+ $1.73
16
New Hire Guide
Long term disability (LTD) protects your family by providing you
with a percentage of your income while you are disabled for a longer
period than short-term disability would otherwise cover. This voluntary
coverage is offered through Unum. The LTD plan will pay 50 percent
of your gross wages up to a maximum beneit of $5,000 per month.
Payments will begin after you have been totally disabled for 90 days.
Those eligible continue to receive LTD beneits until they reach Social
Security normal retirement age. The cost of the plan is paid on a post-
tax basis so beneits will be paid tax-free.
If you do not elect coverage during this initial enrollment period
and you would like to elect coverage at a later date, you must provide
evidence of insurability and be approved by Unum.
LTD Premium Example
As you go online to enroll on the MG+BW Lockton Marketplace
website, the cost of coverage will automatically be calculated based
on your age as of the date of your employment and your current base
salary. The example below is for someone in the 40–44 age group.
$12 hourly rate * 40 hours = $480 * 52 weeks = $24,960
$24,960/12 months = $2,080/100 = $20.80 * $1.04 = $21.63 monthly premium
LTD Rates per $100 of Covered Payroll
Age 50%
<25 $0.16
25–29 $0.25
30–34 $0.42
35–39 $0.67
40–44 $1.04
45–49 $1.37
50–54 $1.74
55–59 $2.01
60–64 $2.12
65–69 $2.06
70+ $1.73
16
New Hire Guide
