What The Plan Pays
If you are disabled, the Plan benefits are:
60% of basic monthly earnings not to exceed the maximum monthly benefit, less
other income benefits.
The maximum monthly benefit is $2,500.
The minimum monthly benefit is the greater of:
- $100, or
- 10% of the monthly benefit before deductions for other income benefits.
Benefits for disability due to mental illness will not exceed 24 months of monthly
benefit payments unless you met one of these situations.
You are in a hospital or institution at the end of the 24-month period. Provident
will pay the monthly benefit during the confinement period.
If you are still disabled when discharged, Provident will pay the monthly
benefit for a recovery period of up to 90 days.
If you become reconfined during the recovery period for at least 14 days in a row,
Provident will pay benefits for the confinement and another recovery period of up
to 90 more days.
You continue to be disabled and become confined:
- After the 24-month period; and
- For at least 14 days in a row.
Provident will pay the monthly benefit during the confinement.
Provident will not pay the monthly benefit beyond the maximum benefit period.
If you are disabled when you are under age 60, your benefits will continue to age
65 but will continue for no less than 60 months. If you are disabled when you are
age 60 or older, see your certificate of coverage for information about how long
you will receive your benefits.
Effective July 1, 2004, you must complete a 90 day elimination period
(i.e., be disabled as defined by the plan for 90 days) before you receive
your long-term disability benefits.
|