LONG TERM DISABILITY BENEFIT PLAN Clause Samples
The Long Term Disability Benefit Plan clause establishes the terms under which employees are provided with income replacement if they become unable to work due to a qualifying long-term disability. Typically, this clause outlines eligibility requirements, the percentage of salary to be paid, waiting periods before benefits begin, and the duration of coverage. By clearly defining the scope and administration of disability benefits, this clause ensures financial protection for employees facing extended health-related absences and helps employers manage their obligations consistently.
LONG TERM DISABILITY BENEFIT PLAN. The Company shall pay the monthly premium cost of the Long Term Disability Benefit Plan. The Long Term Disability Benefit Plan shall be administered in accordance with the terms of an insurance policy.
LONG TERM DISABILITY BENEFIT PLAN. For new claimants after the date of ratification, change Plan to provide 70% of pre-disability regular monthly earnings (maximum $6,000 per month) from week 16 to age 65, subject to Policy provisions. The benefit will be reduced by the amount of CPP or any other pension received and will have an all source income limitation of 80%. Effective July 1/01
LONG TERM DISABILITY BENEFIT PLAN. The Company will maintain and pay the full cost of a Long Term Disability Benefit Plan providing for benefits of 50% of weekly earnings, payable to age 65 or termination of the disability, whichever occurs first. Effective July 1, 1991, for all employees actively employed, the Plan will provide for benefits of 55% of weekly earnings, payable to age 65 or termination of the disability, whichever occurs first.
LONG TERM DISABILITY BENEFIT PLAN. The Company will maintain and pay 75% of the Long Term Disability Benefit Plan and the Employee will pay 25% providing for benefits of 55% of weekly earnings, payable to age sixty-five (65) or termination of the disability, whichever occurs first. During the elimination period and the following six (6) months (this period known as own occupation period) you will be considered totally disabled while you are continuously unable due to any mental infirmity, bodily illness or disorder or bodily injury to do the essential duties of your own occupation and afterwards you will be considered totally disabled if you are unable due to any mental infirmity, bodily illness or injury to perform the duties of any occupation for which you are or may become qualified for by education, training or experience, verified to the satisfaction of the Company or insurer.
LONG TERM DISABILITY BENEFIT PLAN. What is the Purpose of the Plan?
LONG TERM DISABILITY BENEFIT PLAN. For each employee who has established seniority and is actively employed, the Company shall pay the monthly premium cost of the Long Term Disability Benefit Plan.
LONG TERM DISABILITY BENEFIT PLAN. DEFINITION In this plan, unless otherwise provided:
LONG TERM DISABILITY BENEFIT PLAN. The Company shall provide, a t no premium cost to the employees covered by this Agreement, a Long Term Disability Benefit Plan, administered accordance with the terms of an insurance policy, or the Company may elect t o self - insure, but, in any event, the Plan shall contain the following governing provisions:- The Long Term Disability Benefit Plan shall be compulsory for a l l employees, are participants in, and who are covered under the terms of the Inc. Weekly Indemnity Benefit Plan. insured employee shall be eligible receive a Long Term Disability benefit after qualifying period of fifty- two (52) weeks of for the same disability under the weekly indemnity plan or from the Workers’ Compensation Board following a compensable accident, providing proof of disability i s submitted within six (6) months following the qualifying period.
LONG TERM DISABILITY BENEFIT PLAN. For new claim- ants after the date of ratification, change Plan to provide 70% of pre-disability regular monthly earnings (maximum $6,000 per month) from week 16 to age 65, subject to Policy provisions. The benefit will be reduced by the amount of CPP or any other pension received and will have an all source income limitation of 80%.
LONG TERM DISABILITY BENEFIT PLAN. For the duration of the Agreement on Long Term Disability Benefit Plan effective April 23, 2001, although not forming part thereof, it is the Company's Practice that no disability benefits under this Plan will be paid for disabilities resulting from an employee engaging in a criminal act or while the employee is confined to a penal institution.