Page 17 - NH NC Guide
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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
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
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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
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
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