Please follow the steps below to calculate your monthly premium:
Calculating your monthly long-term disability (LTD) cost:
Enter your hourly wage rate
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$
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____.__
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Multiply by 2080
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=
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____.__
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Divide by 12
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=
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____.__
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|
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Monthly Earnings
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*If your monthly earnings exceed $8,333 (maximum monthly covered earnings) then use $8,333 as your monthly earnings to calculate your premium.
Multiply your monthly earnings by the rate for your age x your rate= $____.__
Age as of Jan. 1st of this year
Rate per $100 of pre-disability earnings
15-24
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$0.2755
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25-29
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$0.3515
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30-34
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$0.399
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35-39
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$0.4655
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40-44
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$0.646
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45-49
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$1.482
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50-54
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$2.508
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55-59
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$3.5815
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60+
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$3.1445
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Divide by 100 for your cost: ($/100)= $_______._____ LTD Cost
Add the short-term disability premium to determine your total monthly premium: $+$25.89= $_______._____ Total Premium
**Please note that if you fall into a new age bracket as indicated above, your premium will increase. You will also experience a premium change if you have experienced a change in your pay rate.
Cancellation Requests: Cancellation requests must be received in writing by mail, fax, or e-mail. Cancellations will become effective on the last day of the month in which they are received.
Premium Waived if Disabled: Premium will not need to be paid if you are receiving benefits. Please contact us within 30 days of your disability so that we may waive your premium while you are not working.
Premium Payments: Your initial premium due will be collected within 5 business days of your enrollment. Subsequent premiums will be collected automatically from a Visa, MasterCard or direct debit from a checking account on the 15th of each month. If the 15th falls on a weekend or holiday, the charge will occur on the next business day.