Insurance & Benefits Trust of PORAC
| Plan Features | Long-Term Disability (Policy # A) |
|---|---|
| How Benefits are Funded | Fully insured by Standard Insurance Company – A.M. Best rated A (excellent); Standard and Poor’s rated A+ (Strong). Ratings as of October 2017. Ratings included the Standard Life Insurance Company of New York |
| Percentage of Wages Protected | 66 2/3% of the first $15,000 monthly Pre-Disability Earnings, reduced by Deductible income during the initial 12 months of LTD benefit eligibility. After 12 months of LTD benefit eligibility, Non Industrial Disabilities: 66 2/3% Industrial Disabilities: 16 2/3% |
| Catastrphic Disability Benefit | N/A |
| Maximum Monthly Benefit | $10,000 (66 2/3% of $15,000) before reduction by Deductible Income. |
| Maximum Benefit Period | To age 65 if 61 or younger when Disability began. Maximum Benefit Period for Disabilities that occur after age 61 will be determined by your age when Disability began |
| Own Occupation Period | 12 months following the waiting period. |
| Freeze of Sick Leave | (Premium payments are waived while Disability Benefits are payable) |
| Minimum Benefit | $200 per month while receiving sick pay fo Non-Industrial Disabilities; $50 per month in all other circumstances. |
| Sick Leave Integration Benefit (Non-Industrial only) | After 60 days, receive 100% of base pay through use of 50% leave time and 50% LTD Benefit. |
| STD Benefit Eligibility Waiting Period | N/A |
| LTD Waiting Period | 365 days (Premium payments are waived while Disability Benefits are payable) |
| Musculosketal & Connective Tissue Disorders | For certain conditions, benefits are limited to 12 months for each period of disability. |
| Mental & Nervous Disorders | Benefits are limited to 6 months for each continuous period of disability caused or contributed to by a Mental Disorder; or as long as hospitalized. |
| Drug & Alcohol Use | Benefits are limited to 6 months lifetime. |
| Death Benefit | $65,000 Death Benefit (Accidental) fully insured thorugh ReliaStar Life Insurance Company. $50,000 Death Benefit (Natural) fully self-insured through IBT PORAC. |
Monthly Contribution: $29.70
This is an illustration only. Refer to Plan Documents and Insurance Policy for complete details. CA License Number 0425842. For additional assistance please contact your Myers-Stevens & Toohey & Co. Inc. representative at (800) 827-4695.