Group Long Term Disability Income Insurance Disability Income Insurance provides needed income replacement while employees are unable to work for extended periods. Disability, unfortunately, happens more frequently than many people realize. The statistics reveal a troubling fact. U.S. Department of Labor studies have shown that nearly one in five people will become disabled for five or more years before reaching age 65. And, as people become older, the percentage that cannot return to work increases. While a medical plan covers health care costs, it does not cover earnings while recuperating from major surgery or a serious injury. Group Long-Term Disability (LTD) LTD is designed to provide coverage for employees who are unable to return to work after an injury or illness for a period longer than 90 to 120 days. The benefits provide a percentage of the employee’s basic weekly earnings up to a maximum dollar amount stipulated by the plan. The plan also provides guidelines for type of coverage - such as mental health, injury, illness - and length of coverage for own occupation, other occupation and permanent disability. |
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