Short Term Disability Benefit
- Benefit pays 60% of weekly earnings
- Maximum weekly benefit $650
- In the case of sickness, three plan choices:
- 7 day waiting period
- 14 day waiting period
- 30 day waiting period
- In the case of accident or hospitalization:
- Coverage commences on the first day
- Coverage continues for 17 weeks
- Benefit terminates at age 70
Long Term Disability Benefit
- Benefit pays 60% of weekly earnings
- Overall maximum monthly amount available: $9,750
- Proof of medical insurability required for monthly amounts over $6,500
- Definition of Disability:
- Member firm owners: 5 year Own Occupation
- All others: 2 year Own Occupation
- Benefits commence after 119 days of disability
- Benefits continue to the earlier of retirement or age 65
- Benefits non-taxable because the employee pays the premium
