61 South Paramus Road, Suite 425
Paramus, NJ 07652
phone: 201.556.4570
toll free: 800.445.2448, x4570
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Disability Insurance

Voluntary Long-Term Disability

Voluntary long-term disability (LTD) offers disability income protection to employees unable to perform all of the material duties of their occupation on a full-time basis due to sickness or injury.

The following is a summary of the specific benefits and limitations of the voluntary LTD insurance plan, along with underwriting guidelines for the program:

Coverage Choices:

Employer-Choice...the employer chooses among the following:

  • Two year, five year or to age 65 benefit duration
  • 50% or 60% of salary up to $5,000 maximum monthly benefit*
    Coverage amounts/limitations may vary according to specific state regulations

Group Insurance products are issued by The Lincoln National Life Insurance Company (Fort Wayne, IN), which is not licensed and does not solicit business in New York. In New York, group insurance products are issued by Lincoln Life & Annuity Company of New York (Syracuse, NY). Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Each affiliate is solely and independently responsible for its own financial and contractual obligations. Products may not be available in all states.

Employee-Choice...the employee chooses among the following:

  • 90 or 180-day elimination period
  • Two year, five year or to age 65 benefit duration
  • 60% of salary up to $5,000 maximum monthly benefit
    (offered in $100 increments with a $500 minimum benefit required)*
    Coverage amounts/limitations may vary according to specific state regulations

Additional features of the voluntary LTD program:

  • A 24-month "own occupation" definition of disability (this means that within this program, an employee is considered totally disabled if he or she is unable to perform all of the material duties of his or her occupation on a full-time basis due to sickness or injury for 24 months)
  • A partial disability benefit with a return-to-work incentive allowing earnings up to 99% of pre-disability income during the first 24 months of partial disability benefits, and 85% thereafter
  • Benefits paid for disabilities due to pregnancy or its complications, alcoholism, drug addiction, and mental/nervous conditions
  • Waiver of premium while LTD benefits are payable
  • A family income benefit paid to the surviving spouse or children
  • During the elimination period, a total or partial disability can cease for a period of time without requiring that a new elimination period begin
  • Portability of coverage at the same rates for up to one year after termination
  • Integration/exclusions

If you’re interested in learning more, Contact Us!