Disability Insurance
Disability Insurance Matters
How long can you pay the bills without an income? A few weeks? Maybe a month? What happens if you get sick or pregnant or have an accident and can’t work? How will the rent or mortgage get paid?
Do you have a rainy day fund? More than half of Americans have less than $1,000 in savings. What would you do if your income stopped because you couldn’t work?
Our disability insurance options are designed to fill the financial gap that happens when you are unable to work. Your cost for coverage will be available at enrollment.
At Lake County Schools, you will have the option to select one of our four plans.
14 - day elimination period (Benefits begin after 14 days of disability)
- Plan 1 :payable up to 5 years
- Plan 3 :payable up to Social Security Normal Retirement Age (SSNRA)
60 - day elimination period (Benefits begin after 60 days of disability)
- Plan 2 - payable up to 5 years
- Plan 4 - payable up to Social Security Normal Retirement Age (SSNRA)
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PLAN 1
Benefits Begin: After 14 days of disability
How long benefits are paid: Up to 5 years
Monthly Benefit: Choose between $300 and $7,500 per month in $100 increments. Maximum is 66 2/3 of monthly income.
Medical Question Limit (EOI): $5,000
Annual Increase: One benefit level($100 per month) within the same plan.
PLAN 2
Benefits Begin: After 60 days of disability
How long benefits are paid: Up to 5 years
Monthly Benefit: Choose between $300 and $7,500 per month in $100 increments. Maximum is 66 2/3 of monthly income.
Medical Question Limit (EOI): $5,000
Annual Increase: One benefit level($100 per month) within the same plan
PLAN 3
Benefits Begin: After 14 days of disability
How long benefits are paid: Up to Social Security Normal Retirement Age
Monthly Benefit: Choose between $300 and $7,500 per month in $100 increments. Maximum is 66 2/3 of monthly income.
Medical Question Limit (EOI): $5,000
Annual Increase: One benefit level($100 per month) within the same plan
PLAN 4
Benefits Begin: After 60 days of disability
How long benefits are paid: Up to Social Security Normal Retirement Age
Monthly Benefit: Choose between $300 and $7,500 per month in $100 increments. Maximum is 66 2/3 of monthly income.
Medical Question Limit (EOI): $5,000
Annual Increase: One benefit level($100 per month) within the same plan