Long Term Disability Buy Up
Buy-Up LTD insurance increases your monthly coverage amount. Standard LTD plans often replace 40–60% of your base salary. A buy-up LTD option allows you to increase that coverage – typically up to 66.67% or 70% of your income. This can make a big difference in maintaining your lifestyle during a long-term disability. Please check your Schedule of Benefits to see if you have Buy Up Long-Term Disability available.
Buy Up Long-Term Disability provides:
Affordable, additional protection
Provides enhanced coverage amounts beyond your Long-Term Disability benefit – paid for by you. Buy-up LTD offered through your employer can provide rates that are significantly lower than what you'd pay for an individual policy.
Peace of mind
Enhanced coverage amounts can make a big difference in maintaining your lifestyle during a long-term disability. Knowing that you have stronger financial protection can reduce stress and help you focus on recovery.
Enhanced coverage amounts
Buy-up LTD allows you to increase your monthly benefit percentage and maximum monthly benefit – for example, from 40% up to 66.67% or even 70% of your income (please check your Schedule of Benefits for your specific benefit coverage).
Schedule of Benefits
Details on your Buy Up LTD benefit can be found in your LTD Schedule of Benefits, which will list the benefit along with the benefit amount and highlights. Buy-Up LTD amounts are listed in the same table with your LTD information. Your Buy-Up LTD will be an enhanced percentage of your basic LTD.
An abridged sample Schedule of Benefits with Buy-Up LTD is below. Please note that each company’s benefits may differ. For an explanation of all benefit terms, please read the LTD Schedule of Benefits page.
| Benefit | Benefit amounts and highlights |
|---|---|
| Disability Definition | 24-Month own occupation, any occupation thereafter / Residual |
| Monthly Benefit Percentage | Core: 40% Buy-Up: 60% |
| Maximum Monthly Benefit | Core: $6,000 Buy-Up: $10,000 |
| Minimum Monthly Benefit | None |
| Elimination Period | 90 days |
Calculating Buy-Up LTD Rates
Your individual premium for Buy-Up Long Term Disability insurance is determined by calculating your monthly earnings, dividing your monthly earnings by 100 and multiplying by the Buy-Up LTD rate.
Consider this formula: Monthly covered payroll ÷ 100 × Rate = Your LTD premium
How to submit a Buy-Up LTD insurance claim
If you become unable to work due to an unforeseen illness or injury, you should submit a claim to MetLife for payment. We will pay a monthly benefit after the elimination period. Buy-Up LTD will be paid automatically based on your plan design, so there’s nothing extra to submit.