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Designed for SAF members who work 30 or more hours
per week, the Long Term Disability Insurance plan is a good option for
members who are self-employed or who want to supplement their employer-provided
coverage. Unlike accident-only plans, the Long Term Disability plan helps
safeguard your income against disabilities caused by either illness or
accident. Many SAF members prefer this plan for this added level of protection.
You can apply for coverage up to 60% of your average
monthly earnings— up to the maximum benefit of $5,000 per month
— depending on the amount you would need to cover your family’s
monthly expenses. A monthly benefit is not available if the amount of
such benefit when combined with the total of any other disability insurance
you may have or for which you may be applying would exceed 60% of your
average monthly income.
Use this formula to calculate the maximum monthly benefit available to
you under the
SAF
Long Term Disability Income Plan:
| Your average monthly earnings |
_____ |
| Multiplied by 60% |
x .60 |
| Equals your Maximum Benefit |
=_____ |
If you are self-employed, your
average monthly income means your wages, salaries, commissions, and any
other amounts received by you for personal services.
If you are not self-employed, your average monthly income means the basic
rate of monthly compensation from your employer, including commissions.
For Residents of CA please note the following offset
disclosure:
| Insured's monthly pre-disability earnings: |
$3,000.00 |
| Long term disability benefits percentage |
x 60% |
| Unreduced maximum benefit |
$1,800.00 |
| Less Social Security disability benefit per month |
-$900.00 |
| Less state disability benefit per month |
-$300.00 |
| Total amount of long term disability benefit per month |
$600.00 |
The example above is for purposes of illustrating the
effect of the benefit reductions and is not intended to reflect the situation
of a particular claimant under the policy.
With the
SAF
Plan, there is a waiting period from the day you become totally disabled
to the day your monthly benefit payments begin. You can choose from 60,
90, or 180 day waiting periods to match your needs and help keep your
cost of coverage as low as possible.
Once your waiting period is satisfied, the length of
time your monthly benefits will be paid is determined by the Plan Option
you chose when you applied. You can select from two Plan Options:
- Five Year Injury and Sickness Option
This Option provides benefits for up to five
years. For disabilities occurring on or after age 60, benefits will
only be payable up to age 65 or for one year, whichever benefit is greater.
- Injury and Sickness To Age 65 Option
This Option provides benefits up to age 65
for disabilities beginning before age 65.
A covered total disability is an incapacity that completely
and continuously prevents you from doing the material and substantial
duties of (1) your regular occupation during the waiting period and during
the next 24 consecutive months and (2) any occupation for which you are
or may become qualified by reason of education, training or experience,
after the waiting period and the initial
24 months has lapsed
The amount of monthly coverage you select is the maximum
coverage you receive under the SAF plan. Your monthly benefits will be
reduced by any other benefits your receive including but not limited to
benefits from government, government agencies, insurance companies, organizations
or funds. Complete details about other income benefits are included in
the Certificate.
If there is other group disability insurance which applies to the same
covered total disability and contains the same or similar provision for
reduction because of other income benefits, New York Life will be liable
for its pro rata share of the total claim. "Pro rata share"
means the proportion determined by dividing: (a) the benefit payable under
this plan in the absence of such other insurance; by (b) the total of
benefits payable under this plan and such other policy or policies.
The group buying power of thousands of
SAF
members puts affordable, quality disability coverage within your reach.
Click here
to determine your cost for the level of protection you want for yourself
and your family.
Long Term
Disability Income Plan rates
- Coverage can continue to age 65
As long as you are working full-time at the
duties of your job or profession, pay your premium when due, remain
a member of
SAF
, and the Group Master Policy remains in force, your coverage cannot
be cancelled until the renewal date following your 65th birthday.
- Waiver of premium while disabled
Your premium payments will be waived after
you have been receiving total disability benefits for six consecutive
months. This waiver will continue until Total Disability benefits are
no longer payable. At that time you can continue your Disability Income
Plan protection by resuming premium payments, as long as you are otherwise
eligible for coverage.
- Concurrent Disabilities
Benefits during any Period of Disability as
the result of: more than one sickness; or more than one accident; or
both sickness and accident; will be considered the same as if the disability
resulted from only one cause and is not separated by return to full-time
work for more than one day.
- Exclusions
The following disabilities are excluded. A disability that occurs during,
is due to or is related to your:
• Travel in or on or fall from any aircraft while the aircraft
is in flight unless you are traveling (a) solely as fare paying passenger
on a licensed, commercial, regularly scheduled, non-military aircraft;
(b) in a civil aircraft having a current and valid "Standard Federal
Aviation Agency Airworthiness Certificate" and piloted by a person
with a current and valid pilot's certificate with proper rating for
the type of flight and aircraft involved; or (c) in a transport type
aircraft operated by Military Airlift Command (MAC) or its successor
organization of the United States of similar air service in any other
country.
• Participation in or incarceration resulting from the commission
of a felony, an illegal occupation or activity, an insurrection, terrorist
activity or a riot in a role other than as a victim.
•Service in the military, naval or air force of any country, alliance
or international organization or in a civilian unit which serves such
force.
•Disability which is the result of a preexisting condition. A
Preexisting Condition is an injury or sickness or any condition related
to an injury or sickness for which you consult a doctor, receive medical
services or supplies or take a medication during the 12 month period
immediately before your insurance date. It does not include any injury
sickness or condition after you have been insured under the plan for
24 months.
•Disability that does not require a doctor's regular care or any
period of a disability for which you are not under the regular care
of a doctor except that this will not apply if such care is no longer
required for prudent medical management of the disability. "Doctor"
does not include yourself or a member of your immediate family.
•Intentional self-inflicted injury or occurs while intentionally
injuring yourself while you are sane or insane.
•Engagement in war, an act of war or an armed conflict which involves
the armed forces of one or more countries in a role other than as a
victim.
- Coverage for mental illness, alcoholism,
and drug abuse
If you become Totally Disabled due to mental
disorders, and/or chemical dependency the maximum payment period will
be reduced to the lesser of: (a) two years during your lifetime, or
(b) the maximum benefit period unless you are confined in a hospital
or other institution licensed to provide care and treatment for that
disability.
- Recurrent disabilities
If you’re disabled due to the same or
related medical causes, it will be considered one period of disability
unless separated by less than 180 days during which you were actively
at work. When there are fewer than 180 days between disability periods,
benefit payments will be based on your original claim.
- Residual benefit payments
If you are partially disabled, or if you accept
rehabilitative employment while totally or partially disabled, you may
be eligible to receive a residual monthly benefit payment. Details of
the Residual Disability Benefit and Rehabilitative Employment Benefit
are contained in your Certificate of Insurance.
Your coverage will become effective on the date shown
on your Certificate of Insurance, provided the required premium has been
paid and you are actively at work full-time (30 hours) on that date. If
you are not actively at work full-time on that date, your coverage will
become effective on the first day of the month following the date you
return to work full-time if such day is within three months of the date
insurance would otherwise have taken effect and you are still eligible
to obtain the insurance on that date.
Choose $50,000 of
coverage for $13 every six months. Choose
$100,000 of coverage for $26 every six
months.
Rates shown are semiannual (twice yearly).Rates and/or
benefits may be changed for everyone in your class of insured people only.
Rates may be changed on any premium due date and on
any date on which benefits are changed. Benefits can be changed by agreement
between SAF and New York Life Insurance Company.
If you sustain an injury that results in any of the
following losses within 365 days of the date of accident, we will pay
the percent of your AD&D coverage amount shown opposite the loss.
We will not pay more than the AD&D coverage amount.
| Loss of life |
100% |
|
Loss of movement of both lower limbs (paraplegia) |
75% |
| Loss of two limbs |
100% |
|
Loss of movement of both upper and lower limbs on one side of the
body |
50% |
| Loss of sight of both eyes |
100% |
|
Loss of one limb |
50% |
| Loss of one limb and sight of one eye |
100% |
|
Loss of sight of one eye |
50% |
| Loss of speech and hearing |
100% |
|
Loss of speech or hearing |
50% |
| Loss of movement of both upper and lower limbs (quadriplegia) |
100% |
|
Loss of thumb or index finger |
25% |
| Loss means with regard to: (a) limbs, severance through
or above the wrist or ankle; (b) sight, speech or hearing, total and
permanent loss; (c) thumb and index finger, severance through or above
the metacarpophalangeal joints; (d) movement of limbs, total and permanent
paralysis. |
No more than one benefit, the largest, is payable for all losses due to
the same limb due to or related to any one accident.
No more than the Principal Sum is payable for all losses due to or related
to any accident.
The following losses are excluded. A loss that occurs
during, is due to or related to your:
• Travel in or on or fall from any aircraft while the aircraft is
in flight unless you are traveling (a) solely as fare paying passenger
on a licensed, commercial, regularly scheduled, non-military aircraft;
(b) in a civil aircraft having a current and valid "Standard Federal
Aviation Agency Airworthiness Certificate" and piloted by a person
with a current and valid pilot's certificate with proper rating for the
type of flight and aircraft involved; or (c) in a transport type aircraft
operated by Military Airlift Command (MAC) or its successor organization
of the United States of similar air service in any other country.
• Participation in or incarceration resulting from the commission
of a felony, an illegal occupation or activity, an insurrection, terrorist
activity or a riot in a role other than as a victim.
• Service in the military, naval or air force of any country, alliance
or international organization or in a civilian unit which serves such
force.
• Suicide, an attempt at suicide or an intentionally self-inflicted
injury which occurs during an attempt at suicide or while intentionally
injuring yourself while you are sane or insane.
• Engagement in war, an act of war or an armed conflict which involves
the armed forces of one or more countries in a role other than as a victim.
• Disease or bodily infirmity of mind or body; medical or surgical
treatment of such disease or bodily infirmity; or bacterial infections,
except infections which occur as a result of an accidental cut or wound
or accidental ingestion of contaminated material.
• Legal or illegal use of drugs, intoxicants, narcotics, barbiturates,
or hallucinogenic agents, unless such use is as prescribed by a doctor
or accidentally administered; legal intoxication.
• Medical, dental or surgical treatment unrelated to the accident
which would otherwise entitle you to benefits.
Get
instructions and an application
THE
SAF
LONG TERM DISABILITY INCOME PLAN |
