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Long Term Disability Insurance (Optional)

Long Term Disability Insurance (Optional)

The Long Term Disability Plan is not offered as a stand-alone policy under the SPE GlobalCare Program.  Eligibility is limited to those members with coverage under the SPE GlobalCare medical plan sponsored by Gulf Insurance/Global Benefits Group.

Expatriate members of SPE may purchase up to 80% of a pre-disability income benefit with a maximum of US$6,666 monthly benefit.  Members may choose from waiting periods of 13, 17, 26, or 52 weeks.  In the event an insured person becomes totally disabled due to illness, bodily injury, or debility, medical evidence will be required for benefits to be paid.  Coverage terminates upon the first of recovery, death, or attainment of retirement age (not to exceed age 65 unless specifically agreed to by the insurance company).

There is no benefit escalation.

Long Term Disability Income Premium

Monthly Premiums

(See Premium Examples below this table)

MALE

FEMALE

Age Next*

Waiting Period

Age Next*

Waiting Period

 

13 weeks

17 weeks

26 weeks

52 weeks

 

13 weeks

17 weeks

26 weeks

52 weeks

18-34

1.16

1.11

0.81

0.68

18-34

1.74

1.67

1.22

1.01

35-39

1.58

1.52

1.1

0.93

35-39

2.38

2.27

1.64

1.39

40-44

2.45

2.34

1.7

1.43

40-44

3.66

3.5

2.54

2.15

45-49

3.12

2.97

2.34

1.94

45-49

4.67

4.46

3.5

2.9

50-54

5.02

4.8

3.74

3.1

50-54

7.53

7.19

5.6

4.64

55-59

7.79

7.44

5.79

4.82

55-59

11.68

11.15

8.69

7.22

60-64

12.55

11.99

9.44

8.13

60-64

18.82

17.97

14.16

12.19

* Actual Age + 1

 

Territorial Limitations: Rates exclude Algeria, Angola, Chad, Democratic Republic of Congo, Ivory Coast, Liberia, Rwanda, Sierra Leone, Somalia, Sudan, Afghanistan, Iran, Iraq, and Palestinian territories in Israel.

Long Term Disability Premium Examples

Example #1:

Amount of LTD Insurance requested                         $5,000/month covered at 80%

Age of Applicant                                                        45 to 49

Monthly premium with 13 weeks waiting period       $124.80 ($4,000 * 0.0312)

Annual Premium                                                         $1,497.60

 

Example #2:

Amount of LTD Insurance requested                         $5,000/month covered at 60%

Age of Applicant                                                        45 to 49

Monthly premium with 13 weeks waiting period       $93.60 ($3,000 * 0.0312)

Annual Premium                                                         $1,123.20

Applications for LTD

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