SHORT TERM DISABILITY INSURANCE
Creative Sign Designs provides all active employees working 30 or more hours per week the option to purchase short term disability insurance coverage through a group plan, at the employee’s cost.
Short Term Disability
Benefit Percentage
60% of basic earnings
Maximum Weekly Benefit
$1,000 per week
Benefits commence on the 15th day for an accident Benefits commence on the 15th day for a sickness
Elimination Period
Duration of Benefit
24 weeks
Definition of Earnings
Salary prior to disability
Voluntary STD Premium Calculation:
STEP 1
Enter your basic weekly pay (divide you annual pay by 52) rounded to the nearest dollar. Multiply the amount in Step 1 by 60% and enter the result (rounded to the next higher dollar). This is your weekly benefit. Do not enter more than $1,000.
1. _________
STEP 2
2. _________
STEP 3
Divide the amount in Step 2 by 10 and enter that amount.
3. _________
STEP 4
Premium factor
4. .60__
STEP 5
Multiply the amount in Step 3 by the amount in Step 4 and then enter it here. This is your approximate monthly premium. Multiply the amount in Step 4 by 12 and then divide by 26 and then enter it here. This is your approximate bi-weekly cost.
5. _________
STEP 6
6. _________
LONG TERM DISABILITY INSURANCE
Creative Sign Designs provides Long Term Disability to all active full time employees at no cost to the employee. The chart below provides an overview of the plan.
Long Term Disability
Benefit % of Monthly Covered Payroll
60% of basic earnings
Monthly Maximum
$6,000 per month
Benefits commence on the 181 st day
Elimination Period
Benefit Duration
Social Security Normal Retirement Age (SSNRA)
Definition of Earnings
Salary prior to disability
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