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Group Long Term Disability Insurance: The Standard Insurance
Long Term Disability Insurance coverage is offered through The Standard Insurance. The premiums for this benefit are paid by the University. There is no charge to eligible employees.
- Non-classified employees who meet the eligibility requirements for participation in the BOG 403(b) retirement program are insured for this benefit after one year of employment.
- The one-year waiting period may be waived if you were insured under a prior employer’s group long-term disability insurance policy within three (3) months before your hire date, and that policy provided income benefits for five (5) or more years of disability.
- Proof of prior coverage from your previous employer is required within 30 days of your hire date. A form can be printed out and sent to your previous employer to complete and then returned to URI Employee Benefits within 30 days.
Employees who become totally disabled will be eligible to receive the Monthly Income Benefit equal to 60% of his/her monthly wage base, not to exceed a benefit of $7,000 per month, less the sum of “Benefits from Other Sources” (ex. Social Security.)
The plan also provides a Monthly Annuity Premium Benefit equal to 14% of the eligible employee’s monthly wage base, which is credited to your retirement annuity contract. Non-classified employees in ERSRI pension retirement are not eligible for this annuity benefit. Monthly wage base increases annually by 3% after 36 months from the start of disability benefits.
Benefits start as of the first day of the month after the end of the Elimination Period. The Elimination Period is six (6) months of continuous disability.
Certain maximum and minimum benefit amounts may apply and time limits based on age may also apply.
Employees who are not eligible for benefits, or classified employees who participate in Employee Retirement System of Rhode Island (ERSRI) are not eligible for Standard’s Long Term Disability coverage.
You can print out a copy of the LTD Certificate here.
