Long-Term Disability

Long-Term Disability

Long-Term Disability coverage is one simple way to prepare yourself for unexpected life events. Whether you are responsible for your family or just yourself, it can give you added peace of mind by providing you additional resources to take care of your financial obligations if you are unable to work for a long period of time.  Voluntary Long-Term Disability (LTD) insurance from Lincoln Financial Group provides income in addition to disability coverage you may already have, such as the Oklahoma Teachers' Retirement System (OTRS). Or if you have no other income options available in the case of disability, then you should consider enrolling in Voluntary Long Term Disability (LTD) insurance to provide long-term income and protect the lifestyle you had before you became disabled. 

Employees may participate in optional long-term disability plans by paying the low monthly premium. Premiums are deducted from your paycheck either before or after taxes are calculated. You must be off work at least 180 days (6-months) and be approved before benefits begin. Benefit payments are less when they are offset by other sources of income such as Oklahoma Teachers' Retirement System and Social Security. The benefit period is limited to two years if there is a mental health diagnosis. Long-term disability insurance is available in the three levels described below.

Plan Options

Plan 1

Plan 1 - 66 2/3 % of pay, includes a cost-of-living adjustment and contributions to the Defined Contribution Plan.
  • Benefit Percentage
    • 66 2/3%
  • Maximum Monthly Benefit 
    • $5,000
  • Minimum Monthly Benefits
    • $100
  • Annual Income Requirement
    • None

Plan 2

Plan 2 - 50 % of pay, does not include cost-of-living adjustment or a contribution to the Defined Contribution Plan.
  • Benefit Percentage
    • 50%
  • Maximum Monthly Benefit 
    • $2,000
  • Minimum Monthly Benefits
    • $100
  • Annual Income Requirement
    • None

High Option: Plan 5

High Option - 66 2/3% of pay, applies only to employees earning $70,000 or more annually.
  • Benefit Percentage
    • 66 2/3%
  • Maximum Monthly Benefit 
    • $15,000
  • Minimum Monthly Benefits
    • $100
  • Annual Income Requirement
    • $70,000