LONG TERM DISABILITY INSURANCE
LONG TERM DISABILITY Leader’s Casual Furniture provides all active employees working 30 or more hours per week the option to purchase Long term disability insurance coverage through a group plan, at the employee’s cost.
Long Term Disability
Benefit % of Monthly Covered Payroll
50% of basic earnings
Monthly Maximum
$6,000 per month
Elimination Period
Benefits commence on the 180th day
Benefit Duration
Social Security Normal Retirement Age (SSNRA)
Definition of Earnings
Salary
VOLUNTARY LONG-TERM DISABILITY Monthly Rates per $100 of benefit
AGE
Rates per $100 of benefit
PREMIUM CALCULATION
< 24
$0.48
Annual Pay
1. $__________
25-29
$0.45
30-34
$0.51
Divide Annual Pay by 12
2. $__________
35-39
$0.69
Find rate on table below
3. $__________
Multiply the amount on line 2 by appropriate rate for your age entered on line 3.
4. $__________
40–44
$1.09
45-49
$1.16
Divide the amount on line 4 by 100 5. $__________ and enter the amount on line 5 to get your monthly payroll deduction. Multiply the amount on Line 5 by 12, 6. $__________ then divide by 26 to get your approximate bi-weekly payroll deduction
50–54
$1.82
55-59
$1.81
60-64
$1.87
65-69
$1.10
70+
$0.81
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