What It Is:
Long Term Disability provides coverage for income protection should an employee become disabled from performing his or her job.
How It Works for You:
The ISTA FSP's Long Term Disability Plan bases its benefit on a percentage of an employee's salary. Under the plan, the amount paid is not decreased by either the Social Security cost of living increase or a Teachers Retirement Fund benefit. Additionally, the Consumer Price Index adjusts the plan annually for the full term of the disability. Specific dedicated reserves and not general assets back our plan.
We have three different plans with the following variables.
- The maximum amount of salary covered by the plan
- The percentage of benefit
- The maximum benefit period for disabilities caused by mental illness
- The elimination period (waiting period) required before the payment of benefits begin
Additional information about your specific plan can be obtained by contacting the ISTA Financial Services Program at 800-466-1175.
