Offered by Life Insurance Company of North America
Employer-Paid LONG TERM DISABILITY INSURANCE
Summary of Benefits
Prepared for: AAA East Central
Eligibility: All active, full-time Employees of the Employer regularly working a minimum hours as defined by the Employer. Employee: You will be eligible for coverage the first of the month on or after 30 days of active service. Available Coverage: Gross Monthly Benefit 1 Maximum Gross Monthly Benefit Benefit Waiting Period
Maximum Benefit Period
The latter of any accumulated sick leave, accumulated paid time off or 180 days.
60% of your monthly covered earnings
$10,000
Please refer to the “How Long Benefits Last” section below for more details.
Additional Features Family Survivor Benefit – If you die while receiving benefits, we will pay a survivor benefit to your lawful spouse, eligible children, or estate. The plan will pay a single lump sum equal to 3 months of benefits. Important Definitions and Policy Provisions: Disability - “Disability” or “Disabled” means that, solely because of a covered injury or sickness, you are unable to perform the material duties of your regular occupation/regular job and you are unable to earn 80% or more of your indexed earnings from working in your regular occupation/regular job. After benefits have been payable for 24 months, you are considered disabled if solely due to your injury or sickness, you are unable to perform the material duties of any occupation for which you are (or may reasonably become) qualified by education, training or experience, and you are unable to earn 60% or more of your indexed earnings. We will require proof of earnings and continued disability. Covered Earnings - “Covered Earnings” means your wages or salary, not including overtime pay, bonuses, commissions, and other extra compensation. When Benefits Begin - You must be continuously Disabled for the latter of any accumulated sick leave, accumulated paid time off or 180 days b efore benefits will be paid for a covered Disability. How Long Benefits Last - Once you qualify for benefits under this plan, you continue to receive them until the end of the benefit or until you no longer qualify for benefits, whichever occurs first. Should you remain Disabled, your benefits continue according to the later of your Social Security Normal Retirement Age, or the following schedule, depending on your age at the time you become Disabled. Age at Disability Age 62 or younger 63 64 65 66 67 68 69+ Duration of Payments (months) To age 65 or the date the 42nd monthly benefit is payable, if later. 36 30 24 21 18 15 12 When Coverage Takes Effect - Your coverage takes effect on the later of the policy’s effective date, the date you become eligible, the date we receive your completed enrollment form if required, or the date you authorize any necessary payroll deductions if applicable. If you’re not actively at work on the date your coverage would otherwise take effect, your coverage will take effect on the date you return to work. If you have to submit proof of good health, your coverage takes effect on the date we agree, in writing, to cover you.
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