Long Term Disability (LTD) coverage provides the necessary financial protection for your most valuable asset - your ability to earn an income.
As health care professionals, you are aware of the risk of becoming disabled at any age. As the incidence of disability increases with age, it is important to apply for coverage while you are healthy and actively at work. The plan provides you with the flexibility to choose the level of coverage you need, and the benefi ts are tax-free.
How much coverage do you need?
It is recommended that you have enough LTD coverage to replace your take-home income in order to cover your monthly expenses. You would receive a monthly tax-free benefit in the event that you are unable to work due to illness or injury, and are approved for disability. The amount of Voluntary LTD coverage you apply for is in addition to the Base Plan LTD coverage.
What level of coverage is available?
- Coverage is available in units of $250 to a maximum of $5,000 per month (including your Base Plan coverage of $250, if applicable);
- You can apply for an amount of coverage up to 60% of last year’s average gross monthly income.
LTD plan – 60-day open enrollment
If you are losing coverage, you can enroll in the LTD Plan without providing medical evidence (subject to being actively at work), within 60 days of:
- the fi rst day you became an ONA Member; or
- the day you lost coverage due to a change from full-time to part-time status.
Like to get an idea of the cost?
We can find the solution to suit your needs and budget. Let us know a few details, and we’ll do the rest.
Need to make a claim?
Call us at 1.877.709.5855 and one of our friendly and professional representatives will be happy to help you.
Johnson Inc. provides administrative, consulting and/or claims administration/payment services. Insurance products are underwritten by various insurance providers.