Page 26 - 2018 SLU New Hire Guide
P. 26
Long Term Disability
Insurance
Have you considered what would happen if you couldn’t go to work as a
result of a disabling illness or accident? Disability insurance goes to work
when you cannot.
Long term disability (LTD) protects your family by providing you with a
percentage of your income while you are disabled for an extended period
of time. Our long term disability coverage provided by Mutual of Omaha
is designed to replace a substantial part of lost income in the event of a
total disability.
Upon approval by Mutual of Omaha, beneits begin after three months
of disability or the exhaustion of sick leave not to exceed six months.
The plan pays 60% of your salary on the date of disability up to $15,000
per month. All LTD beneits are reduced by any award of Workers’
Compensation or Social Security Disability.
Saint Louis University pays the entire cost of this coverage up to a base
annual earnings of $36,000. A small payroll deduction is assessed for
coverage on base earnings in excess of $36,000.
This coverage is automatic for eligible employees, as a condition of
employment after one year of full-time service, or if a new employee
is transferring from another group disability plan. If transferring from
another group disability plan, you must complete and submit the
“Certiication of Previous LTD Coverage” form within 31 days of your
full-time employment date with SLU.
Note: Disability beneits are subject to applicable taxes and are offset by any other
income or disability beneits you receive (or are eligible to receive), such as Social
Security and workers’ compensation.
26 2018 New Hire Guide
Insurance
Have you considered what would happen if you couldn’t go to work as a
result of a disabling illness or accident? Disability insurance goes to work
when you cannot.
Long term disability (LTD) protects your family by providing you with a
percentage of your income while you are disabled for an extended period
of time. Our long term disability coverage provided by Mutual of Omaha
is designed to replace a substantial part of lost income in the event of a
total disability.
Upon approval by Mutual of Omaha, beneits begin after three months
of disability or the exhaustion of sick leave not to exceed six months.
The plan pays 60% of your salary on the date of disability up to $15,000
per month. All LTD beneits are reduced by any award of Workers’
Compensation or Social Security Disability.
Saint Louis University pays the entire cost of this coverage up to a base
annual earnings of $36,000. A small payroll deduction is assessed for
coverage on base earnings in excess of $36,000.
This coverage is automatic for eligible employees, as a condition of
employment after one year of full-time service, or if a new employee
is transferring from another group disability plan. If transferring from
another group disability plan, you must complete and submit the
“Certiication of Previous LTD Coverage” form within 31 days of your
full-time employment date with SLU.
Note: Disability beneits are subject to applicable taxes and are offset by any other
income or disability beneits you receive (or are eligible to receive), such as Social
Security and workers’ compensation.
26 2018 New Hire Guide
