No benefit may be more important to protect your income and future financial security if you cannot work due to a disabling accident or illness than long-term disability (LTD) insurance. The College pays the full cost of this coverage.
There is no waiting period for this benefit. As a benefits-eligible employee, your coverage is effective on the first of the month following the later of either the date of hire or date enrolled in benefits.
The LTD benefit pays an amount equal to 60 percent of your pre-disability base salary, up to $7500 per month, after 180 days of total disability. You may be eligible for annuity premium protection if you are an active participant in the IC 403(b) Retirement Plan at the time you become disabled. This protection is not part of Individual Choice, and the premium is paid by the College.
Long-term disability benefits are coordinated with any disability income you may be entitled to receive from other sources, such as Social Security. If you remain totally disabled, LTD benefits normally continue until you reach age 65, unless you become disabled after age 60.