The State of California has chosen Standard Insurance Company to provide Voluntary Long Term Disability (LTD) insurance coverage to eligible Excluded employees (i.e., employees in managerial, supervisory, and confidential positions) through payroll deduction. LTD insurance is designed to help protect you against a loss of income in the event you become disabled and are unable to work for an extended period of time. The Standard delivers real value through well-designed products, competitive prices and the promise of exceptional service.
Choice of Benefit Plans to Fit Your Needs – The plan provides two options to choose from:
|55% Benefit Option:||Replaces up to 55% of the first $18,182 of your monthly base salary to a maximum of $10,000, reduced by deductible income 1|
|65% Benefit Option:||Replaces up to 65% of the first $15,385 of your monthly base salary to a maximum of $10,000, reduced by deductible income 1|
24-hour coverage for disabilities that occur both on and off the job
Federal and state income tax-free LTD benefits when premium payments are made with "after-tax" dollars under current federal and state income tax laws
Rehabilitation plan provision that prepares you to return to work, when approved by The Standard, and may pay for return to work expenses you incur, such as job search, training and education expenses. While you are participating in an approved Rehabilitation Plan, your LTD Benefit will be increased by 10% of your Predisability Earnings not to exceed the maximum LTD monthly benefit
Monthly adjustment to work earnings for family care expenses may be allowed when determining deductible income, if the expense is necessary to enable a return to work, up to $250 per eligible family member, subject to a total monthly maximum of $500 (provided for up to 24 months) for all family members
Extra money for your children's education. While receiving LTD benefits, you'll receive $150 per month up to 48 months in educational expenses for each of your children attending an accredited post-secondary school on a full-time basis under the age of 22
Survivors benefit equal to six times your unreduced LTD benefit may be payable to your survivors if you die while LTD benefits are payable and you have been continuously disabled for at least 180 days
LTD conversion insurance option may be available if you have been covered under the State's Voluntary LTD plan for at least 12 months when your coverage ends
The amount payable of any LTD benefit, reduced by deductible income, depends upon the option you select at the time of enrollment. With either option, if you become disabled and The Standard approves your claim for LTD benefits, the benefits become payable after you have been continuously disabled for 6 months and remain continuously disabled as defined by the coverage, subject to the maximum benefit period and any limitation period. LTD benefits are not payable during the benefit waiting period.
1 Deductible income includes, but is not limited to: work earnings; sick leave; workers' compensation; state disability income; Social Security; disability and retirement benefits under the State's retirement plan (such as CalPERS and STRS); other group insurance benefits; third party settlements and any amounts received by compromise, settlement or other methods as a result of a claim.