Short and Long Term Disability Insurance
The Company’s Short and Long Term Disability coverages protect against disabilities that inhibit you from working for an extended period of time. The Company provides employees with the option to purchase Short Term Disability and pays 100% of the cost for Long Term Disability.
Short Term Disability
Waiting Period: 14 days for injury and 14 days for sickness.
*Employees can use available sick/safe time and vacation during waiting period. When applicable, maternity leave can be used.
Benefit: 60% of salary with a minimum weekly benefit of $100 up to a maximum weekly benefit of $1,000. Benefit duration is up to 11 weeks.
Age | Per Pay Period Rate per $10 of Weekly Benefit |
---|---|
Under age 25 | $0.180 |
25-29 | $0.217 |
30-34 | $0.153 |
35-39 | $0.140 |
40-44 | $0.088 |
45-49 | $0.112 |
50-54 | $0.135 |
55-59 | $0.165 |
60-64 | $0.190 |
65-69 | $0.214 |
70-99 | $0.243 |
Maternity Leave
The Company offers two weeks of paid maternity leave.
Long Term Disability
Elimination Period: 90 Days
Benefit: Lesser of 60% of monthly earnings or max disability benefits of $12,000. Benefit duration is until age 65 or a minimum benefit of at least 12 months if the LTD benefit starts at age 65 or older.
New York Life Group Insurance
Submit a Disability Claim
This service is offered by NY Life to employers and employees who wish to file a disability claim.
The information requested is required for us to begin reviewing your claim. It’s important that you provide us with complete and accurate information to avoid a delay in the processing of your claim.
You can submit your claim in one of two ways:
- Submit a disability claim online. Complete the secure online form and we’ll call you if we need additional information.
-or-
- Submit a disability claim via fax or mail. Download, print, complete, sign and mail or fax your claim form.
Have a question about your claim form?
Call 888.842.4462 between 7 a.m. and 7 p.m. Central Time. If you call outside this time frame, please leave a voicemail message and a representative will respond the next business day.
Short-Term Disability Calculation Example
Example: An employee age 32 with a salary of $45,000:
Find your weekly benefit maximum:
- $45,000 divided by 52 weeks = $865.38
- $865.38 X 0.60 = $519.23
Select the amount of coverage you would like from $100 up to your maximum listed above.
1. Example: The employee chose $500 of weekly benefit.
2. Divide $500 benefit amount by $10 = $50
3. Multiply step 2 by the age band for cost- $50 X $0.153 = $7.65 per pay period