Disability insurance is like insurance for your paycheck. That can be especially important today. It pays a benefit to you if you can't work because of a covered illness or injury.
While health insurance pays your doctor, disability insurance pays you &ndash directly. Group Long Term Disability insurance pays a monthly benefit if you experience a disability that lasts for several months or years and meet the plan requirements.
Long Term Disability coverage can help with financial obligations and expenses that health insurance won't cover. So, you can worry less about your finances. And focus on getting better.
The risk of disability is greater than most people think
Over a quarter of today's 20-year-olds will become disabled during their career. That statistic comes from the Social Security Administration's annual fact sheet. And most disabling conditions occur off the job, so they're not covered by workers' compensation benefits. A disability can drain a family's savings and put their long-term financial security at risk.
What your benefit offers
60 percent of your eligible earnings, up to a maximum benefit of $7500 per month. Plan minimum per month: $100 or 10 percent of the Long-Term Disability benefit. If you experience a qualifying disability, your benefit waiting period is 180 days for which you must be continuously disabled before you become eligible to receive your monthly benefit.
If you are an active eligible member and participate in a State of Nevada PEBP – sponsored medical plan, you could protect yourself and your family by purchasing Voluntary Long-Term Disability coverage through The Standard. For your convenience, premiums can be deducted from your paycheck automatically.
It's easy to Enroll
Enroll in Voluntary Long Term Disability (LTD) coverage by visiting the EPEBP Member Portal. For answers to commonly asked questions, costs, exclusions, limitations and reductions, please review the Group Voluntary Long-Term Disability benefit summary and Certificate of Insurance.