Long Term Disability Income Plan
Examples of Total and Partial Disability Claim Scenarios
Examples of Claims under the Total Disability Income Benefit Plan Option:
After submitting satisfactory evidence of good health and monthly earning's information, the AICPA member is approved for a $6,000/month coverage amount under the Total Disability Option. The AICPA member suffers a total disability and is unable to earn any income.
Scenario A:
As part of the claims process, the member proves that he/she was still earning enough to qualify for the $6,000/month coverage amount when the disability occurred. After the claim is approved, the AICPA member receives a check for $6,000/month when the waiting period is over.
Scenario B:
As part of the claims process, the member reports earnings that are less than what he/she was earning when first approved for coverage. Instead of qualifying for $6,000/month, the member's income when the disability occurred only qualifies him/her for $4,000/month. After the claim is approved, the AICPA member receives a check for $4,000/month when the waiting period is over. In addition, the Premium Contributions made by the member since January of that year for the difference of the $2,000/month coverage amount, are returned to the member.
In both scenarios, the member will continue receiving the monthly payments throughout the duration period or until the member recovers from the disability. Apply for the Total Disability Income Benefit Plan Option
Under the Total Disability Option, no benefits are paid if a member suffers a partial disability, allowing him/her to work part-time.
Examples of Claims under the Total and Partial Disability Income Benefit Plan Option:The claim experiences shown above, under the Total Disability Option, are the same under the Total and Partial Disability Option. However, this Plan also provides benefits for partial disabilities. Apply for the Total and Partial Disability Income Plan to get this option. Examples of this scenario is shown below.
Scenario A:After submitting satisfactory evidence of good health and monthly earnings of $10,000, the AICPA member is approved for a coverage amount of $6,000/month under the Total and Partial Disability Option. The $6,000/month coverage amount is the highest amount available based on the member's monthly earnings ($10,000 x 65% =$6,500). The AICPA member suffers a partial disability and continues to work part-time.
While the member is working part-time, he/she realizes a 30% loss of earnings. The member files a claim and continues working while earning $7,000 per month during the waiting period. After the claim is approved, the AICPA member receives a check for $3,000/month for the first 12 months when the waiting period is over as part of the Return to Work Incentive program. That amount represents the member's monthly loss of earnings due to the disability (i.e. from $10,000 to $7,000). If the member still needs benefits after this time, he/she will receive a check for $1,800/month (30% of the $6,000/month coverage amount.)
The member will continue receiving the monthly payments throughout the duration period or until the member recovers from the disability.
Apply for the Total and Partial Disability Income Benefit Plan Option
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