Disability Insurance (continued)
Voluntary Long-Term Disability Insurance If you are not able to return to work after the short-term disability benefit period ends, you may be eligible for Long-Term disability, which provides additional salary continuation.
We’ve Got You Covered As an benefit eligible employee of CPIhealth you have access to a disability income insurance policy from Guardian. A lengthy disability can be devastating, and is more common than you might think. It may lead to a loss of income, independence and financial security. A disability income insurance policy can help provide security when you need it most. It pays you cash benefits when you’re sick or hurt and can’t work. Coverage guidelines and benefits are outlined in the chart below.
ELEGIBILITY – ALL ELIGIBLE EMPLOYEES
Youmust be actively working a minimum of 30 hours per week to be eligiblefor coverage.
Eligibility Requirement
Premium Payment
The premiums for this insurance are paid infull by you.
BENEFITS
Yourbenefits beginonthelater of90calendar daysafter theonsetofyour disabling injury or illness or the date your short-term disability ends.
Elimination Period
Your benefit is equivalent to 60% of your before-tax monthly earnings, not to exceed the plan’s maximum monthly benefit amount less other income sources. The premium for your long-term disabilitycoverage iswaived while you are receiving benefits.
Monthly Benefit
$10,000
Maximum Monthly Benefit
$50
Minimum Monthly Benefit
If you become disabled and can work part-time (but not full-time), you may be eligible for partial disability benefits. If you become disabled priortoage 62, benefits are payable to age 65, your Social Security Normal Retirement Age or 3.5 years, whichever is longest. At age 62 (and older),thebenefit periodwillbebased onareduced durationschedule.
Partial Disability Benefits
Maximum Benefit Period
16
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