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Supplemental Life Cost Calculator
Short Term Disability
Short-term disability benefits help replace lost income if you
become disabled. If you are unable to work due to a disability
(including pregnancy or complications of pregnancy), you are
eligible to receive payments to replace your income. There is a
two week waiting period before benefits will be paid. Benefits
are paid for up to 13 weeks. STD coverage is guaranteed. You
do not have to complete a health questionnaire.
Partial Disability Benefit
A partial disability benefit is included with the plan. A partial
disability benefit provides an opportunity for employees who are
not able to work at full capacity to receive supplemental income.
Employees can receive up to 100% of their pre-disability income
through a combination of earnings and disability payments.
Employees enrolled in STD benefits are eligible for partial
disability benefits, if the partial disability follows a period of total
disability which has continued for at least 30 days. You must be
earning less than 80% of your pre-disability income at the time
the partial disability employment begins to be eligible for partial
disability benefits.
Pre-Existing Conditions
New enrollments and increases in benefit amounts are subject
to a pre-existing condition limitation. Any disability contributed
to or caused by a pre-existing condition within the first 12
months of your effective date will not be covered. A pre-existing
condition is a sickness or injury for which you have received
treatment within the 12 months prior to the effective date of your
coverage. Should you file a claim in the first 12 months of your
coverage, benefits may be delayed while information is
researched regarding the possibility of a pre-existing condition.
Weekly Benefit Amount
Employees can choose weekly benefit amounts from $100 to
$750 in $50 increments. The weekly benefit cannot exceed
70% of your basic weekly income. Basic weekly income
includes the weekly compensation you earn from your normal
occupation with Wallis Companies. It does not include overtime,
bonuses, or any other extra pay. To determine your maximum
weekly benefit, multiply your weekly wage by 0.7 (weekly hours
* hourly rate * 0.7). Employees may choose a benefit amount
less than the maximum, but benefits cannot exceed the
maximum. If your maximum weekly benefit falls between two
benefit increments, your maximum is the lower of the two. See
Other Important Plan Information for information regarding
taxability of benefits.
Employee
$________ ÷ 1,000 X $__________ = $_________
Amount of
Coverage
Unit Cost from
Rate Table
Employee
Monthly Cost
Spouse
$________ ÷ 1,000 X $__________ = $_________
Amount of
Coverage
Unit Cost from
Rate Table
Spouse
Monthly Cost
Child(ren)
$________ ÷ 1,000 X $__________ = $_________
Amount of
Coverage
Unit Cost from
Rate Table
Child(ren)
Monthly Cost
The Wallis family of companies...a
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with
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WALLIS COMPANIES