Group LTD Insurance is designed to pay a monthly benefit to you in the event you cannot work for six months or longer because of a covered illness or injury. This benefit replaces a portion of your income, helping you to meet your financial commitments in a time of need.
Watch a video about how Group LTD insurance can help provide more financial security for your loved ones.
Choose the Benefit Level for Your Needs:
- 65% Option
- Replace up to 65 percent of the first $15,385 of your monthly base salary to a maximum of $10,000 per month, reduced by deductible income (e.g., work earnings, workers’ compensation, state disability, etc.)
- 55% Option
- Replace up to 55 percent of the first $18,182 of your monthly base salary to a maximum of $10,000 per month, reduced by deductible income (e.g., work earnings, workers’ compensation, state disability, etc.)
Benefit Waiting Period: Benefits become payable after a six-month waiting period during which you are continuously disabled.
Maximum Benefit Period: If you become disabled before age 62, Group LTD benefits may continue during disability until age 65 or to the Social Security Normal Retirement Age (SSNRA) or 3 years, 6 months, whichever is longest. Depending on your age at the time of disability, your benefits may be subject to a different schedule. Refer to your Employee Benefits Guide or Group LTD Insurance Certificate for specifics.
Minimum Benefit: $100 or 15 percent of your Group LTD benefit, whichever is greater.
Additional Features:
- Survivors Benefit
- If you've been receiving Group LTD benefits for at least 180 days and die while benefits are payable, your survivors are eligible to receive a lump-sum payment equal to six times your monthly benefit, without reduction by deductible income.
- Dependent Education Benefit
- If you have a dependent under the age of 22 attending an accredited post-secondary school on a full-time basis while you are disabled, you'll receive an additional $150 per month for up to 48 months for each child.
- Family Care Expenses Adjustment
- If you incur child or elder care expenses as a result of your participation in an approved rehabilitation plan, your benefit payment may be adjusted. You can receive up to $250 per family member, subject to a total monthly maximum of $500, for up to 24 months to offset the cost of care for your child, spouse, grandparent, sibling or another close family member residing in your home who is handicapped and depends on you for support.
- Conversion
- You may have the option to obtain LTD conversion insurance after the termination of your insurance, if you meet the requirements defined by the group policy.
This policy has exclusions, limitations and terms under which the policy may be continued in force or terminated. The amount of benefits provided depends on the option selected. Premium will vary according to the selection made. Please contact The Standard for additional information, including costs and complete details of coverage.
The Standard is a marketing name for StanCorp Financial Group, Inc. and subsidiaries. Insurance products are offered by Standard Insurance Company of Portland, Oregon, in all states except New York, where insurance products are offered by The Standard Life Insurance Company of New York of White Plains, New York.
