Protect yourself, protect your family. Disability insurance helps replace income lost when you are disabled as the result of an illness or injury and are unable to work.
Short-Term Disability (STD) insurance pays a benefit equal to 66 2/3 of your annual benefits once you have been disabled for 14 calendar days. To become eligible for STD insurance, you must have 90 days of regular employment with First Data. After that, you are enrolled automatically and the cost of STD insurance is paid in full by First Data.
Long-Term Disability (LTD) insurance picks up where STD leaves off. There are two types of LTD insurance:
*The money you spend on voluntary Long-Term Disability insurance is money well spent. If you're not sure, ask yourself how long you could live on 50% of your income.
As a new hire with First Data, you will be automatically enrolled in the Voluntary LTD coverage during enrollment. This results in payroll deductions that will not be refunded. If you do not want this extra coverage, you must elect the Basic LTD coverage.
A condition shall no longer be considered pre-existing if the disability begins after you have been covered under the plan and in active employment for a period of 12 consecutive months or longer. The pre-existing condition rules apply at your initial enrollment and at any later enrollment for an increase in coverage.
For future enrollments, you may be required to provide EOI if you were previously eligible for Voluntary LTD and you did not enroll.
If the EOI is required, you will receive an EOI form through one of two ways:
You must complete this form and send it back to MetLife. The coverage you elect will go into effect on the first day of the month after you have provided the required information AND your coverage has been approved by MetLife.
If you receive benefits under other disability plans, such as Social Security or Workers' Compensation, the LTD benefit is reduced by the amount received under those plans. However, in no case would you receive less than the minimum benefit of $100 per month.
Use the Estimate Your Long-Term Disability Needs tool under Insurance on the Your Benefits Resources website.