VOLUNTARY SHORT TERM DISABILITY
National Aviation Academy offers you the option to purchase short term disability (STD) insurance. STD is insurance for your paycheck should you become disabled due to an off the job injury or illness for a period of time.
WHEN WOULD THE BENEFIT START?
Benefits would begin on the 15 th day from injury or illness.
HOW MUCH WOULD THE BENEFIT PAY? The benefit would pay 60% of your weekly pre-disability earnings to a maximum of $1,000.00 per week.
HOW LONG WILL THE BENEFIT PAY?
The benefit would pay out to a maximum of 11 weeks or until you no longer meet the definition of disability, whichever occurs first.
PRE-EXISITING CONDITIONS ARE EXCLUDED. If you had a pre-existing condition within the 3 months prior to coverage becoming effective, you would not be eligible to claim for any disability resulting from that condition if the disability occurs within 6 months of the start of coverage.
VOLUNTARY SHORT TERM DISABILITY COST
Use the calculation table below to calculate your cost for coverage per paycheck (semi monthly).
Calculation Table
Steps
1
Annual salary / 52 =
$
Take amount in Step 1 and multiply it by 0.6 (this your weekly benefit amount, 60% of your weekly earnings)
2
$
3
Take the amount calculated in Step 2 and divide by $10
$
4
The amount in Step 3 and multiply by $0.36
$
The amount in step 4 divided by 2 is your cost for coverage per paycheck (semi monthly)
5
$
11
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