If you require disability benefits beyond the Short-term Disability period, you may be eligible to receive Long-term Disability (LTD) coverage. Contact the XL Catlin Benefits Administrator to find out if you are eligible.
You become eligible for LTD coverage automatically at no cost to you from your date of hire. LTD coverage ensures that you receive 60% of your eligible base pay up to $25,000 per month, if you become disabled due to illness or injury for a long period of time. If approved, your benefits under this plan begin after 180 days of a medically certified disability.
The XL Catlin LTD plan features a “Tax Choice Option.” This means you can choose to pay taxes on the Company-paid insurance premiums now. If you elect to pay taxes on the premium now through the Tax Choice option, your net monthly benefit, should you be approved for LTD, will be greater because it will be payable to you free of federal and most states income taxes. With the Basic option, you pay nothing now but you pay taxes on your insurance benefits if you ever need to use them later.