Short-Term Disability (STD) provides you with a portion of income replacement if you are unable to work due to a non-occupational illness or injury.
Class 1 (California): Receive 30% of your weekly salary, up to a maximum of $1,000 per week for up to 51 weeks.
Class 2 (Non-California): Receive 66.67% of your weekly salary up to $2,500 per week for up to 51 weeks.
Benefits begin on the eighth day following the onset of the disability.
Please note that the STD plan includes a pre-existing condition limitation. A pre-existing condition is defined as any illness or injury for which you received medical care, took prescribed medications, or saw a provider during the three months prior to the start of your coverage. If your disability is due to a pre-existing condition, benefits will not be paid unless the disability begins after you have been continuously covered under the plan for six months.
For assistance filing a claim, call 800-362-4462 or visit NY Life Disability Claims.
Class 1
Rate per $10 of Weekly Benefit = $1.021
Elected Benefit Amount ÷ 52 x 0.60 = $__÷ $10 = $__ x $1.021 = Monthly Cost
Class 2
Rate per $10 of Weekly Benefit = $1.239
Elected Benefit Amount ÷ 52 x 0.60 = $__÷ $10 = $__ x $1.239 = Monthly Cost
LTD coverage provides crucial financial protection in case you experience a serious illness, injury, or accident that prevents you from working for an extended period. LTD coverage kicks in after STD benefits end, helping safeguard your income and support your family during challenging times.
With LTD, you can replace 60% of your base salary, up to a maximum of $10,000 per month, if you are unable to work due to disability for more than 365 days. Voluntary LTD coverage is paid with after-tax dollars, ensuring that any benefits you receive are tax-free. Note that LTD benefits are offset by other sources of income, such as Social Security or Workers’ Compensation.
Investing in LTD coverage now provides peace of mind and financial security for you and your family in the face of unexpected events.
Annual Salary ÷ 12 = Monthly Salary ÷ $100 = ___ x $ Rate from table = Your Monthly Cost
| Age Bracket | Monthly Cost per $100 of Monthly Covered Payroll |
|---|---|
| <20 | $0.14 |
| 20-24 | $0.18 |
| 25-29 | $0.15 |
| 30-34 | $0.37 |
| 35-39 | $0.52 |
| 40-44 | $0.76 |
| 45-49 | $1.03 |
| 50-54 | $1.32 |
| 55-59 | $1.37 |
| 60-64 | $1.45 |
| 65-69 | $1.52 |
| 70-99 | $1.59 |
