Voluntary Group Short and Long Term Disability Plan

What happens when someone is unable to work because of illness or injury? People rely on their paychecks for the necessities of life. Reliance Standard offers employers – and ultimately their employees – a variety of options so they can get the coverage they need affordably.

Plan Highlights

  • Benefits up to 60% of salary
  • Available in flat dollar amount, percentage of salary, or increments
  • Maximum short term benefits up to $1,250 per week
  • Maximum long term benefits up to $7,500 per month
  • Elimination periods of 7, 14, 30, 60, 90 or 180 days
  • Benefit duration up to Social Security Normal Retirement Age
  • Elimination period interruption provision
  • Maternity covered as an illness
  • Partial and residual available
  • Rate guarantees up to two years

Eligibility

  • A full-time employee working 30 or more hours per week (part-time, temporary, or seasonal employees are not covered.)
Minimum Earnings
  • Employee must be earning a minimum of $15,000 annually in base pay.

Benefits

Choose from multiple Short Term Disability Schedule Options

Incremental
Incremental Plans allow for employees to elect their benefit amount in weekly increments of $25 starting at $100, and subject to 60% of salary (rounded down) to a maximum of $1,250 per week.

Choose from multiple Long Term Disability Schedule Options:

Incremental
Incremental Plans allow for employees to elect their benefit amount in monthly increments of $100 starting at $500, and subject to 60% of salary (rounded down) to a maximum of $8,000 per month.
 
Incremental Core/Buy-Up Plans allow the employer to provide a flat benefit amount for each employee. Employees can then elect to purchase additional flat benefit amounts as described in the Incremental option above, up to a combined benefit maximum.

Voluntary Contributory Plans allow employees to elect their benefit amount as described under the Incremental option above, but the employer pays for a portion of the employee’s coverage if the employee elects to purchase additional coverage.

Percentage of Earnings
40%, 50% or 60%

Employer selects which percentage(s) to offer to employees. If offered multiple percentages, employees choose which percentage of their covered earnings they would like to insure. If offered one percentage, employee chooses if he/she wants to buy the coverage. A minimum benefit is designed to avoid a situation where an employee has been paying into a plan and after he/she becomes disabled learns that he/she would not receive a benefit because of integration or offsets with other sources of income (such as workers’ compensation, state disability benefits, Social Security). Standard minimum benefits are $25 per week for VPS and $50 per month for VPL. The Benefit Period or Benefit Duration determines how long benefits may be payable after the Elimination Period has been satisfied. The available Benefit Period options range from a short term duration of 11 weeks, to a long term duration of up to Social Security Normal Retirement Age (or beyond SSNRA, as applicable) for any one period of disability.
Certain states have minimum participation requirements; waiver of participation is part of Enrollment Advantage, and applies for the initial rate guarantee period. Short Term Disability Schedule Option is subject to a maximum of $2,100 per week in California.