University Long Term Disability Plan (LTD)
The voluntary University plan through the Prudential Company supplements the State Universities Retirement System (SURS) benefits if you become disabled due to sickness or injury. A preexisting condition limitation is applicable for the first two years of coverage. You pay the full cost of this plan. New employees, who are eligible to receive benefits, are guaranteed coverage in this plan if they apply within their first 60 days of employment. All other eligible employees can apply for coverage at any time by answering questions about their health. The insurance carrier has the right to approve or reject any such request for coverage. Benefits under the plan are coordinated with any SURS disability payments, so that a total benefit of up to 66 2/3% of base pre-disability earnings (maximum of $12,000 per month) is paid.
Key Factors About This Plan
- The Prudential Company determines the effective date of coverage.
- You must participate in SURS to be eligible for enrollment in the plan.
- A preexisting condition limitation is applicable for the first two years of coverage.
- Employees are guaranteed coverage in the plan if applied for within the first 60 days of employment.
- After the first 60 days of employment, you may apply for coverage with evidence of good health.
- Benefits are offset by any other benefits received, including those from SURS.
- Your LTD benefit becomes payable after you have been continuously disabled through the elimination period, which is the greater of 90 days or the expiration of sick leave following accidental injury, sickness or pregnancy.
- Maximum monthly benefit is 66 2/3%
- Monthly premiums are based on the employee's age and monthly benefit amount.