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D I SAB I L I TY I NSURANCE COVERAGE
Customer Service: 800-796-3872
Website:
The goal of Creditcorp’s Disability Insurance Plan is to provide you with income replacement should you become
disabled and unable to work due to a non-work related illness or injury for a long period of time. Creditcorp is partnering
with Symetra to offer all eligible employees the opportunity to purchase long term disability (LTD) coverage as a source
of income while you are unable to work. Long TermDisability (LTD) is paid 100% by you.
Long Term Disability (LTD): Covers 60% of your monthly earnings – up to a $6,000 per month maximum. Benefits
begin on the 91 st day of disability or illness. Benefits may be declined due to pre-existing conditions within 6 months prior
to your effective date until you’ve been covered for 12 months. (Pre-existing condition: any sickness or injury for which
you received treatment or where symptoms were present to the degree an ordinary person would seek treatment)
Long Term Disability PLAN BENEFITS
Eligibility All full-time 30 hour+ per week active employees
Elimination Period 90 days (benefit begins on 91st day)
Benefit Amount 60% of pre-disability earnings up to $6,000 per month
Cost Calculation for LTD
Annual Cost $200.20 (Annual Salary ÷100×Rate corresponding to Age; Ex. $45,500÷100=$455, $455×$.44 (Rate for Age 36)=$200.20)
Monthly Cost $16.68 (Annual Cost ÷ Months in a Year [12]; Ex. $200.20÷12=$16.68)
Bi-Weekly Cost $7.70 (Annual Cost ÷ Pay periods [26]; Ex. $200.20÷26=$7.70)
12
Age Monthly Rate per $100 of LTD
Coverage
<29 $0.18
30-34 $0.30
35-39 $0.44
40-44 $0.56
45-49 $0.82
50-54 $1.10
55-59 $1.31
60-75+ $1.36
Long Term Disability