Voluntary Long Term Disability


Carrier Name:

USAble Life

Line of Coverage:

Voluntary Long Term Disability

Key Selling Features:

  • Choice of plans to meet the needs of your company
  • Progressive partial disability
  • 24 month mental illness and substance abuse benefit
  • Waiver of premium
  • $50,000 human organ transplant benefit

Basic Product Overview:

Voluntary Long Term Disability (VLTD) is long term disability insurance, which is available to individuals whose employer has sponsored the plan and has provided for premium payments to be made through payroll deduction. Monthly benefits help replace lost income in the event of the insured’s total disability, including maternity. A group contract is issued to the sponsoring employer.

Eligibility

All full-time employees working at least 20 hours per week.

Minimum Size Group

10 lives or 15%, whichever is greater.

Monthly Benefit Amount

Up to 60% of basic monthly earnings. Benefit may be selected from $200, in increments of $100 to a maximum of $5000.

Choice of Plans

The employer selects one of three plans with either 90 or 180 day elimination period.

Plan 1 Maximum benefit duration of 5 Years Accident & 2 years sickness.

Plan 2 Maximum benefit duration of 5 Years Accident & Sickness.

Plan 3 To Age 65 benefit duration for Accident and Sickness.

Rates are based on the group's industry.

Definition of Disability

24 month "own occupation." Thereafter, "any occupation."

Waiver of Premium

Future premium payments are waived as long as disability benefits are being paid.

Other Benefits

Progressive partial disability
Three month survivor benefit
$50,000 human organ transplant benefit

Pre-Existing Limitation

A 12/6/24 pre-existing limitation applies (3/12 in Pennsylvania and 12/12 in Montana and Mississippi).

Taxation of Benefits

Benefits are not taxable as long as the insured pays all the premiums with after-tax dollars

Advantages and Strengths of Implementing this Product with our company over our competitors: USAble Life brings extensive knowledge on the products that serve the worksite market. We offer highly competitive products and rates with personalized one-on-one enrollments. Our web site is user friendly. We recently introduced a new incentive, called LifeLine, which allows employers to track claims through our web site.

DISCLAIMER: This is a brief description of the products offered by USAble Life. These descriptions are for informational purposes only. Products and provisions described may not be available in all states. Specific provisions may vary by state. The policy contains a complete description of benefits, provisions, limitations and exclusions. In the event of a conflict between this description and the policy, the policy will prevail.