Long Term Disability Insurance

Consider any expenses you may incur in the running of your household, including car payments, mortgage payments, groceries, childcare or tuition that would still need to be covered in the event of a disability.

MetLife will make monthly payments directly to you. Payment amounts may vary based on whether you only have the standardly provided basic LTD coverage or elected optional LTD coverage.

Basic Long-Term Disability is provided for Wells Fargo employees at no cost. Employees can then pay for Optional Long-Term Disability through after-tax deductions each pay period.

Wells Fargo pays the cost of your Basic Long-Term Disability coverage. If you choose to enroll for Optional Long-Term Disability coverage, you are responsible for the full cost of the additional coverage, and premiums will be deducted from your pay each pay period on an after-tax basis.

You are automatically enrolled for Basic LTD coverage if you are one of the following:

• A newly hired regular or fixed term employee
• An employee who has had an employment classification change to a regular or fixed term position
• A rehired regular or fixed term employee
  

If you are eligible for Basic LTD coverage as described above, you may enroll for Optional LTD coverage during your designated enrollment period or qualifying life event. If you did not enroll in Optional LTD coverage during your initial designated enrollment period, at Annual Benefits Enrollment, or you missed your 60-day window for enrolling as a result of a Qualified Event, you may request enrollment at any point during the year by providing a statement of health application (also known as evidence of insurability) to MetLife.

MetLife offers various ways to submit your claim based on your plan, including online, mail and phone options. Plus, you can track the status of your claim and submit claim updates online via our web portal. You can also reference the Navigating a Leave of Absence document on Teamworks at Home for more information.

You may need written proof of your disability from your treatment provider(s) to be approved for a claim. You may also need to provide additional medical records concerning the details of your disability. Your insurer may also want you examined at their cost and/or may require financial information from you. 

During the first 24 months of your Long-Term Disability, you are considered disabled if you are unable to perform the material and substantial duties of your own occupation for any employer in your local economy. After this 24-month period, you are unable to perform the material and substantial duties of any occupation for which you are reasonably qualified, taking into account your training, education, experience, and predisability pay for any employer.

Keep in mind that the Long-Term Disability plan has exclusions and limitations and may not fully cover certain disabilities and pre-existing conditions. Please reference the Long-Term Disability chapter in the Benefits Book on Teamworks at Home for more information.

Benefits may begin after you have met an elimination period—a plan-defined period of time, starting with the date you are disabled from work and the number of days you must continue to be disabled until benefits may begin. Please reference the Long-Term Disability chapter in the Benefits Book on Teamworks at Home for more information.

To estimate the benefit amount you would need if you became disabled, ask yourself how much monthly income would cover your living expenses. Household expenses may include mortgage, car payments, groceries and childcare. Consider all these factors to help you come up with an appropriate amount.

Wells Fargo also offers employees the option of electing Optional Long-Term Disability coverage for additional financial protection. This benefit is paid by you with after-tax payroll deductions.

Social Security disability benefits may be available to eligible individuals who experience a disability that is expected to last longer than one year (in addition to other requirements). Social Security disability benefits are not intended for temporary conditions. You should also note that Social Security's disability rules are different from those of other government or private programs. For more information on Social Security disability benefits eligibility, visit the Social Security Administration’s website at www.ssa.gov. Paid Family and Medical Leave and/or state disability benefits may also be available depending on your work state.