Long Term Disability Income Plan
Obtaining Benefits
The AICPA LTD Plan was developed to include features not found in many other plans. A "your occupation" definition of disability, for instance, means you won't be forced into another line of work before receiving benefits. And, unlike many employer plans, benefits are generally tax-free, because the premiums are paid by you with after tax dollars, and there is no reduction for any Social Security benefits received.
LTD insurance is designed to help provide monthly benefits beyond the duration of Short Term Disability Insurance. To receive AICPA LTD benefits, you must be disabled due to a sickness or injury and under the regular care of a doctor--confinement in a house or hospital is not required. In addition, you must meet the definition of disability that applies to the Option you elected:
With the Total Disability Income Option, you must be unable to perform all material and substantial duties* normally required of your own occupation and you cannot work at any job for wage or profit to be considered disabled during your waiting Period.
With the Total + Partial Disability Income Option, you must be unable to perform the material and substantial duties* normally required of your own occupation to be considered disabled during your waiting Period. If you are normally required to work over 40 hours per week on average, and you are currently working or have capacity to work 40 hours per week, Prudential will consider this requirement to be satisfied. You must have lost at least 20% of your Monthly Earnings due to your sickness or injury.
*Material and substantial duties cannot be reasonably omitted or modified.
Under the AICPA LTD Plan, you have a choice of Waiting Periods (sometimes called an elimination period) before monthly benefits begin: a 13 week waiting period that lets benefits begin sooner, or a 26 week period that carries substantially lower rates.
Benefit Duration:Depending on when your disability occurs, you will receive monthly benefits:
- For your lifetime, if your disability begins before you reach age 50
- To age 65, if your disability begins at age 50 through age 62
- For two years, if your disability occurs at age 63 through 69
For a disability caused by a mental or nervous disorder, benefits will be limited to five years or the time limits listed above, whichever is less.
Once you begin receiving benefits, you must remain unable to perform all substantial and material duties of your occupation to continue receiving benefits. During this time, you may request to be placed in the Rehabilitation Program, which offers you the opportunity to resume employment while receiving benefits.
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