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Long-term disability insurance premiums
Find out the monthly cost for supplemental long-term disability (LTD) insurance.
Supplemental LTD plan premiums
LTD supplemental plan premiums are based on:
- What type of employee you are.
- How long you want your benefit waiting period to be (the amount of time you would have to wait for benefits to start after you become disabled).
- How much you earn.
Benefit waiting period (your choice) |
Higher-education employees retirement plan employees |
TRS, PERS, and other retirement plan employees |
---|---|---|
90 days | 0.72% | 0.60% |
120 days | 0.42% | 0.36% |
180 days | 0.32% | 0.28% |
240 days | 0.30% | 0.27% |
300 days | 0.28% | 0.25% |
360 days | 0.27% | 0.24% |
If you enroll, premiums will be automatically deducted from your payroll as a percentage of your predisability earnings (your monthly base pay before your disability).
How to calculate your premium
To calculate your LTD Supplemental plan premium:
- Pick your benefit waiting period.
- Find your employee type.
- Multiply your monthly base pay (up to $10,000) by the percentage shown above for the desired benefit waiting period.
Example #1
If you are a higher-education retirement plan employee with monthly earnings of $1,000, the 90-day benefit waiting period would cost $7.20 per month.
Criteria | Calculation |
---|---|
Earnings: | $ 1,000 per month |
90-day benefit waiting period: | x 0.0072 (.72% = 0.0072 when multiplying) |
Monthly cost: | $ 7.20 |
Example #2
If you are a TRS, PERS, or other retirement plan employee with monthly earnings of $1,000, the 90-day benefit waiting period would cost $6.00 per month.
Criteria | Calculation |
---|---|
Earnings: | $ 1,000 per month |
90-day benefit waiting period: | x 0.006 (0.6% = 0.006 when multiplying) |
Monthly cost: | $ 6.00 |
Contact
For help with enrollment and premium payments
Your payroll or benefits office
For help with benefits or plan details
Standard Insurance Company
Phone: 1-800-368-2860