Long Term Disability Insurance
Basic LTD: The University of Louisville provides Basic Long Term Disability insurance coverage to all active full-time employees working at least 30 hours per week at no cost when participating in the and receiving University contributions. This basic benefit provides 60% of up to the first $100,000 of your pre-disability yearly salary, up to a monthly maximum benefit amount of $5,000.
Supplemental LTD (Buy-Up): The University of Louisville offers an employee paid Supplemental Long Term Disability insurance coverage to all active full-time employees working at least 30 hours per week who earn $100,000 or more per year, who are participating in the University’s Retirement Plan and receiving University contributions. This additional benefit provides up to a monthly benefit maximum of $5,000, with a combined maximum monthly disability benefit of $10,000.
How to calculate a Supplemental Long Term Disability monthly premium
Example for a person with an annual salary of $150,000:
Enter portion of annual salary above $100,000 in the equation below
$50,000 ÷ 12 ÷ $1000 x $1.40 = $5.83 monthly premium
Supplemental Long Term Disability premiums are post-tax and paid through payroll deductions.