Originally Posted by
WelcomeToBen
LTD question. What income does our LTD policy base our 60% payout on? Previous years W2? Current hourly rate at guarantee? Previous years credit at current hourly rate? I've heard all of these answers at some point or another and was hoping to clarify. The information I received from HR is extremely vague and doesn't really specify what income the 60% is based on. The only thing I can find addressing a specific income amount is the LTD buy up (which is based on 60% of previous years W2) but that only concerns eligibility for the buy up. Would prefer an answer from somebody who has actually used our LTD as everybody seems to have a different answer on this.
The R&I committee has the actual insurance policy. Email them and they can give you the policy. I've used it, and I'm pretty certain that it's 80% of your base guarantee at the time you call in sick for the particular occurrence.
BTW, The Principle sux so bad as policy admins that I won't buy up the coverage. Why give those %^&*(#'S extra money when they will fight you at every turn to deny you? Buy it from Harvey Watt or someone else. Seriously, ThePrinciple treats you like you're low tier or something.