If you purchase Long-Term Disability Insurance on your own, you may choose to:
- Replace 25% of your compensation with a maximum of $5,000 per month.
- Replace 50% of your compensation with a maximum of $5,000 per month.
Monthly premium
| Salary Ranges | 25% Option | 50% Option |
|---|---|---|
| Less than $25,000 | $12 | $18 |
| $25,000 to $44,999 | $22 | $37 |
| $45,000 and above | $43 | $72 |
Note: Because you pay the premium with your own after-tax dollars, your benefit is not taxable.
How much coverage do I need?
In part, that depends on other disability benefits you may have. And keep in mind:
- Social Security benefits may begin after five months of disability.
- Long-term disability benefits begin after a year of disability.
As a lay employee, chances are the 50% option is the choice for you. If your pension plan provides disability benefits, as does the Episcopal Church Lay Employees' Retirement Plan (CPG's defined benefit plan), you may have additional disability income. But more lay employees are in defined contribution plans, which do not provide disability benefits.
When you pay the premium, the plan does not reduce your benefits when you have other disability benefits. According to First UNUM, 60% of those approved for disability payments after a year of being disabled are also approved for Social Security disability benefits. After two years, 80% are approved by Social Security.
You can take it with you
Once you have been insured for at least 12 months, if you leave your job you may pay First UNUM directly to continue your coverage for a period of time. However, First UNUM must receive your portability application within 30 days of your termination date.
| Long-Term Disability Insurance | View |
|---|---|
| Voluntary Long-Term Disability Insurance Summary |  |
| Employer-Provided Long-Term Disability Insurance Summary | |
| Voluntary LTD Portability Application | |
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