Thread: FDX Disability
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Old 10-28-2012, 08:57 PM   #2  
G8RB8T
New Hire
 
Joined APC: Mar 2009
Posts: 9
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This is from an email I got from FDX ALPA when I was asking questions about buying the Insurance, I hope it helps.

The maximum monthly benefit amount is $14,500.00, offset by the FedEx Corporate LTD Plan benefits and other income.
The minimum benefit is 15% of your lost monthly income.

The following is an example of how the FDX MEC Long Term Disability benefit is offset by the FedEx Corporate Disability benefit.

FedEx Pilot's Annual Salary $300,000.00
FDX MEC LTD Benefit: $300,000.00 times 66.7% divided by 12 months equals $16,675.00 GMB [gross max benefit]
FDX MEC Maximum GMB Benefit: $14,500.00
FDX MEC Minimum Benefit: $300,000.00 times 15% divided by 12 months equals a $3,750.00 monthly benefit.



FedEx Corporate Disability Offset:

60%: $250,000.00 times 60% divided by 12 months equals a $12,500.00 monthly benefit.
50%: $250,000.00 times 50% divided by 12 equals a $10,416.67 monthly benefit




FDX MEC LTD benefit while pilot is receiving the FedEx Corporate LTD 60% benefit amount:

GMB: $14,500.00
Offset: ($12,500.00)_(FedEx 60% monthly benefit)
$ 2,000.00 Net Monthly Benefit

The FDX MEC LTD $3,750.00 Minimum Monthly Benefit would be greater than the above $2,000.00 Net Monthly Benefit; thus, the $3,750.00 Minimum Monthly Benefit would be paid.





FDX MEC LTD benefit while pilot is receiving the FDX Corporate Supplement 50% benefit amount:

GMB: $14,500.00
Offset: ($10,416.67) (FedEx 50% monthly benefit)
$ 4,083.33 Net Monthly Benefit

The FDX MEC LTD $3,750.00 Minimum Monthly Benefit would be less than the above $4,083.33 Net Monthly Benefit; thus, the $4,083.33 Net Monthly Benefit would be paid.
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