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Voluntary Long Term Disability


Voluntary Long Term Disability (LTD) insurance helps when an employee is sick or hurt for a long period of time. But it's more than insurance against illness or injury — it's protection for their hard-earned assets. To provide this protection, Companion Life offers the Companion Cornerstone Plan.

Man in wheelchairEmployers who meet all of these requirements are eligible for the Companion Cornerstone plan:

  • Business operations are not seasonal.
  • In business for more than two years.
  • No more than 50 percent of funding from government sources.
  • No more than 60 percent high-risk occupations.
  • No more than 50 percent of employees over age 50.
  • To qualify for the plan, either 10 employees or 25 percent of the eligible group must participate, whichever is greater. In Louisiana, the participation rate is 50 percent of the eligible group. In Massachusetts, Oregon and West Virginia, 75 percent of the eligible group must participate. The employer chooses one plan to offer the employees.  

Employees meeting all these requirements are eligible for coverage in the plan:

  • Full-time employment (working 30 or more hours a week).
  • Actively at work on the effective date of coverage.
  • At least 90 days of continuous service with the employer.

Standard features of the plan include:

  • Minimum monthly benefit of $100 or 10 percent of the gross benefit, whichever is less.
  • Maternity coverage.
  • Cost of living freeze.
  • Waiver of premium, so you don't pay premiums while we pay benefits.
  • Lump sum survivor benefit, work incentive benefit and workplace modification benefit.
  • Social Security filing assistance and vocational rehabilitation services.
  • A 12/6/24 pre-existing conditions limitation applies (varies in some states).
  • Continuity of coverage included.
For more information, please contact us.