Coverage
All employees (excluding casual/student employees) must participate in the Long Term Disability Insurance program.
Eligibility
If you become totally disabled through accident or sickness, the University may cover your full salary for the first six months of disability depending on employment circumstances. Medical evidence will be required by the University during this period.
After this the LTD insurance plan will assure a minimum level of income while an employee is unable to work due to a total disability resulting from accident or illness which continues beyond the qualification period (six months) through to recovery or the July 1st following age 65, whichever comes first.
Benefit Payable
The tax-free monthly income benefit payable will be 60% of your regular monthly earnings to a maximum monthly benefit of $6,000. The benefit is based on the salary you were earning at the date disability occurred. The monthly benefit payable will increase annually beginning with the January 1st next following the date benefits commence and will be based on the Consumer Price Index at January 1st, but shall not exceed 4%.
Definition of Disability
Benefits will be payable if you are unable to engage in your normal occupation during the first 24 months of the benefit period. Thereafter, benefits will be payable if you are unable to engage in any occupation for which you are reasonably qualified by education, training or experience or may become so qualified.
Exclusions
This policy does not cover any disability caused by or resulting from:
- intentionally self-inflicted injury or sickness
- injury sustained during employment for remuneration other than with the University
- war
Conversion Privilege
An employee who leaves his job and takes work elsewhere within (6) months may apply for an individual disability income policy. No medical examination will be required if application is made within 31 days after commencement of the new job.
Termination of Coverage
For all full-time employees salary continuance coverage terminates automatically on the July 1st coinciding with or next following the employees’ 65th birthday.