Employers with a high proportion of employees traditionally viewed as at higher risk for disability, such as retail workers or those who perform physically demanding jobs, may assume Long Term Disability (LTD) insurance is priced out of reach. To help these employers, The Standard offers Basic LTD insurance, a nontraditional LTD plan that includes many traditional LTD plan features.
Basic LTD insurance from The Standard is designed to keep costs down and coverage up.
Basic LTD offers a benefit equal to 30 percent of an employee’s predisability earnings – but benefits are not reduced by Social Security Disability Insurance (SSDI), work earnings or other income.
Although the Basic LTD plan benefit percentage is lower than that of a traditional LTD plan, the absence of deductible income makes the Basic LTD plan very competitive, especially for lower-earning employees. Disabled employees receiving SSDI benefits, for example, may receive a higher level of income replacement under the Basic LTD plan than they would under a traditional LTD plan.
Basic LTD includes these traditional LTD plan features:
Employee Assistance Program (for plans with 15 – 2,500 covered employees)
Reasonable Accommodation Expense Benefit
Rehabilitation Plan Provision
Our personalized service and expert claim handling
The products and coverages have exclusions, limitations, reductions of benefits and terms under which they may be continued in force or terminated. Please contact The Standard for additional information, including costs and complete details of coverage.
This policy provides disability income insurance only. It does NOT provide basic hospital, basic medical or major medical insurance as defined by the New York State Insurance department.
