Long Term Disability Insurance
Disability insurance serves as a partial replacement of your income if you’re unable to work due to a sudden illness or accident. It can help pay for everyday expenses, such as:
- Groceries
- Utilities
- Mortgage
- Car Payments
Plan Summaries
Highlights
Conversion
Conversion allows you to convert your Long Term Disability insurance to an individual insurance policy without going through Evidence of Insurability.
Own Occupation
Own Occupation means a person is typically considered disabled if they are unable to perform the material and substantial duties of the job they were working at the time they became disabled.
Survivor Benefits
If you pass away while receiving disability benefits and have been continuously disabled for at least 180 days, Reliance will pay a survivor benefit to your eligible survivor. This benefit is a lump sum equal to three times your monthly disability benefit, without reduction by deductible income.
Why Disability Insurance?
Example – For Illustrative Purposes Only
Long Term Disability Example
Annual Earnings
$50,000
Monthly Gross salary ($50,000/12)
$4,166.67
Monthly Benefit ($4,166.67 x 60% Benefit)
$2,500
Long Term Disability Example:
Steve is eligible for Long Term Disability benefits. In order to figure out how much his benefit would be he would take his annual salary of $50,000 and divide it by 12 months to give him his monthly salary of $4,166.67. His plan pays 60% of his monthly earnings. He would then multiply his monthly salary by .60 to get his monthly benefit of $2,500.
Value Added Benefits
Travel Assistance
Identity Theft Protection
File a Claim
How to file a claim
Transition to Reliance Matrix FAQs (Frequently Asked Questions)
How will the transition to Reliance Matrix impact my current disability claim?
The impact of transition to Reliance Matrix, depends upon the type of leave that you are on. The leave types are:
- FMLA (Continuous or Intermittent)
- Non-FMLA (Conditional or Non-conditional Leaves)
- Short-term Disability (STD)
- Long-term Disability (LTD)
You can be on more than one type of leave at a time.
For any paid STD or LTD claim, you will continue to work directly with Unum throughout your claim period. The leave will not transition to Reliance Matrix.
All FMLA and non-FMLA claims will transition to Reliance Matrix on Jan 1, 2025. VCU Health System will provide a list of those team members on FMLA or non-FMLA leave. You will receive a letter from Reliance Matrix regarding how to transition your FMLA leave. If you do not receive a letter, you can reach out directly to Reliance Matrix on or after Jan 1, 2025. Information on how to contact them can be found here.
In some cases, you will need to work with both vendors. If you are unsure what action you need to take, the HR4U team is always here to help you navigate through this transition. You can reach us by calling 628-HR4U (4748) or toll free (844) 989-HR4U (4748).
What if I go back out for the same issue on or after January 1, 2025?
Depending on the timing of the recurrence you may have to work with both vendors. If it was an STD claim and it was within the recurrent period, 14 days, you would need to contact Unum. However, if the recurrence occurs after the 14 days this would be considered a new claim and would be filed with Matrix.
Regardless of who you contact for the Short-term or Long-term Disability claim, you would need to contract Reliance Matrix to determine your FMLA or Conditional Leave eligibility.
I am planning on going out early January; however, what happens if I go out before then?
Contact UNUM to initiate a claim at (866) 779-1054. You may also need to contact Reliance Matrix after January 1, 2025 to transfer your FMLA or non-FLMA leave.
I have a planned surgery scheduled for January 2025, when can I contact Reliance Matrix?
Frequently Asked Questions
Do I really need it?
Most people hear the word “disability” and assume this form of insurance only applies to very serious injuries and illnesses — yet many common injuries (like fractures) or chronic conditions (like back, hip, or knee problems) can result in your not being able to do your job and earn a paycheck.
According to the U.S. Social Security Administration, more than one in four of today’s 20-year-olds can expect to be out of work for at least a year because of some disabling condition before they reach age 67 (the normal retirement age). Will you have an ability to pay your bills if you need to miss work for several months? If you don’t have access to that much in emergency savings, or friends or family that can help pay your bills when you need to take time off work, disability insurance makes a lot of sense.
What’s the difference between Short Term and Long Term Disability?
Short-Term Disability covers temporary disabilities that last a few weeks to a few months whereas Long-Term Disability can last for years or until retirement.
Short-Term Disability benefits begin sooner than Long-Term Disability.
In summary, short-term disability is for temporary conditions, while long-term disability provides coverage for extended periods, even up to retirement age. Both types of insurance play a crucial role in protecting your income if you’re unable to work due to an illness or injury.
How much does Long Term Disability pay?
Long-term disability benefits pay a pre-determined percentage of your pre-disability earnings reduced by deductible income. Deductible income includes other sources of income that you may be earning while disabled such as Social Security disability benefits, workers’ compensation benefits, or work earnings. Please refer to your policy for more information.
When does Long Term Disability benefits begin?
Long-term disability benefits become payable after you have met your elimination period that begins on the date of disability. Please refer to your policy for more information.