Protect Your Income if You Can’t Work
CTI recognizes the importance of your financial well-being in the event of a disability. Most of us insure our homes, automobiles, and other assets, yet we often overlook our most valuable asset – our ability to earn an income!
Short Term Disability (STD)
CTI provides short-term disability coverage at no cost to you after one year of continuous service.
For full-time employees with less than 5 years of service, the STD benefits are:
- 60% of your weekly salary to a maximum of $300 per week
- Benefits begin on the 15th day for both accident and illness
- Benefits are payable for a maximum duration of 11 weeks
For full-time employees with more than 5 years of service, the STD benefits are:
- 60% of your weekly salary to a maximum of $500 per week
- Benefits begin on the 15th day for both accident and illness
- Benefits are payable for a maximum duration of 11 weeks
Resources
Voluntary Long Term Disability (LTD)
You are able to purchase Long Term Disability coverage for additional income protection in the event of a serious illness or injury. You may be eligible for benefits if you have received treatment for a condition within 12 months prior to your effective date under the policy until you have been covered by the policy for one year.
Long term disability coverage will replace 60% of your base salary to a monthly maximum of $5,000 if you are disabled for more than 90 days and are unable to work. Premiums for LTD coverage are paid with after-tax dollars and withdrawn from your paycheck therefore the LTD benefits paid to you will not be taxable. LTD benefits are offset with other sources of income such as Social Security and workers’ compensation.
You may only elect this benefit during your initial benefits eligibility window or during the annual open enrollment period.
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