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.