Marshall University employees are offered Short-Term and Long-Term Disability Insurance through the Standard and FBMC. It offers benefits-eligible employees the opportunity to have income replacement protection in the event of an accident or illness which results in the loss of pay. There is pre-existing condition exclusion. Total cost of the premium is paid by the employee. Enrollment for this plan is any time during the month of employment.
Long Term Disability
Long-term Disability (LTD) insurance can help safeguard your family’s lifestyle and provide some peace of mind in the event you become disabled and are unable to work.
When am I considered disabled?
During the benefit waiting period and the next 24 months you are considered disabled if, due to injury, physical disease, pregnancy or mental disorder, you are unable to perform with reasonable continuity the material duties of your own occupation, or you are unable to earn more than 80 percent of your pre-disability earnings while working in your own occupation.
Thereafter, you are considered disabled if, due to an injury, physical disease, pregnancy or mental disorder, you are unable to perform with reasonable continuity the material duties of any gainful occupation for which you are reasonably fitted by education, training and experience, or you are unable to earn more than 60 percent of your pre-disability earnings while working in your own or any other occupation.
There are two options for LTD
- FBMC Long-Term Disability
- The Standard Long-Term Disability
PLEASE NOTE: You MUST only select one Long-Term Disability option and not both.
FBMC Long-Term Disability
You may apply for coverage under either Plan 1 or Plan 2 (FBMC). The monthly benefit under each plan is determined as follows:
The Standard Long-Term Disability
Group Long Term Disability (LTD) insurance from Standard Insurance Company provides financial protection for eligible employees by promising to pay a percentage of monthly earnings in the event of a covered disability. The monthly income benefit payable is based on the amount of the employee’s monthly wage base.
- Class 1 – All eligible faculty employees
- Class 2 – All eligible non-faculty employees
Short Term Disability
FBMC Short-Term Disability
Short-Term Disability is the weekly benefit based on your earnings. The group insurance policy refers to these earnings as pre-disability earnings. The weekly benefit is 70 percent of your pre-disability earnings, reduced by deductible income.
- The maximum weekly benefit is $750
- The minimum weekly benefit is $15