LONG TERM DISABILITY INSURANCE
TradeGlobal provides Voluntary Long Term Disability insurance to all full-time employees working 30 or more hours per week. The chart below provides an overview of the plan.
What is Long Term Disability (LTD)? LTD insurance provides you with a monthly cash benefit to help you pay your bills if a covered disability prevents you from working for an extended period of time.
Long Term Disability
Benefit % of Monthly Covered Payroll
60%
Monthly Maximum
$6,000
Elimination Period
90 days
Benefit Duration
Normal Social Security Retirement Age
Monthly Rate per $100 of Covered Payroll
LONG TERM DISABILITY COST CALCULATION PER PAY PERIOD:
AGE
_____________________ Monthly pay** (annual pay divided by 12) /100 X ____________________ Monthly Rate (from chart) = ____________________ Approximate monthly premium x12 /48 = ____________________ Approximate Per Pay Period Cost
<29
$0.33
30-34
$0.33
35-39
$0.46
40-44
$0.68
45-49
$1.08
50-54
$1.52
55-59
$1.70
**Total monthly pay cannot exceed $10,000. Monthly benefit amount is 60% of monthly pay (up to $6,000)
60-64
$1.16
65+
$1.16
11
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