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Long-Term Disability Insurance
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Who may participate? All regular full-time employees. Why participate? Long-Term Disability (LTD) insurance provides income that would otherwise be lost when you are unable to work due to an extended period of disability. |
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| What is it? This coverage replaces 60 percent of your monthly income (up to a maximum monthly benefit of $5,000) to age 65 (or later, depending on when the disability begins) if you are unable to work after an initial disability of 90 continuous days. The 60 percent replacement income will be offset by any income you receive from other sources such as Social Security (disability) or Workers’ Compensation. How much does it cost? Rensselaer pays 100 percent of the cost of your coverage for any regular full-time employee. Can I buy additional insurance? At time of eligibility or during an Open Enrollment period, current participants or new participants may buy additional coverage to increase the benefit to 66 2/3 percent of basic monthly earnings to a maximum benefit of $7,500. How do I file a claim? If you are disabled and expect the disability to continue for more than 90 days, you must apply for the long-term disability insurance benefit through Human Resources. In order to ensure uninterrupted continuation of income, your application should be received by Human Resources no later than 60 days (the first day of the second month) from the date of the onset of your disability.  More detailed information is contained in the Summary Plan Description available at the Human Resources office. |
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