Disability
Short Term Disability (STD)
Short-Term Disability coverage, through Principal, provides you with a portion of income replacement if you are unable to work due to a non-occupational illness or injury. You are automatically enrolled in STD at no cost to you.
The STD plan provides 60% of your weekly salary, to a maximum of $2,500 per week for the first 25 weeks of a disability (after a 7-day waiting period).
STD benefits may be offset by benefits you receive from the state-mandated disability plans in California, New Jersey, New York, Rhode Island, or the Commonwealth of Puerto Rico.
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Long Term Disability (LTD)
Long-Term Disability coverage, through Principal, pays you a portion of your earnings if you cannot work for an extended time due to a disabling illness or injury. The cost of Core plan and Director or Execs plan coverage is sponsored by EverDriven.
- LTD Core plan coverage replaces 50% of your base salary to a monthly maximum of $3,000 if you are disabled for more than 6 months and are unable to work. You will continue to receive benefits if you meet the definition of disability or reach your Social Security Normal Retirement Age/ADEA schedule.
- LTD Buy Up plan coverage replaces 60% of your base salary to a monthly maximum of $5,000 if you are disabled for more than 6 months and are unable to work. You will continue to receive benefits if you meet the definition of disability or reach your Social Security Normal Retirement Age/ADEA schedule.
Benefits are reduced by other sources of disability income you may qualify for such as Social Security and Workers’ Compensation.
Contact
Principal 800-843-1371 www.principal.com
