Group Long Term Disability Insurance
Trust GEBA - For Paycheck Protection If You Suffer A Disability
As a Federal employee, you dedicate your career to serving our nation. But if a serious illness or injury prevents you from working, your income could be significantly reduced — and your financial responsibilities won’t pause.
While Federal benefits provide important protections, they may not fully replace your income if you’re unable to work for an extended period.
- FERS employees receive 60% of their salary for the first year (taxable), and then 40% until retirement eligibility. Plus, FERS employees are not covered for the first 18 months.
- CSRS employees receive 40% of their salary (taxable) until retirement eligibility.
GEBA’s Group LTD plan provides tax-free* payments up to $7,500 per month (not to exceed 67% of gross monthly salary).
GEBA’s Group Long Term Disability (LTD) coverage with New York Life Insurance Company helps provide Federal employees (excluding active-duty military) a portion of your monthly income if you become disabled due to a debilitating accident or illness and can no longer work. With GEBA, Federal Employees up to age 60 can apply for coverage with a 90 or 180-day waiting period.
- Are under age 50, and
- Applying for $3,000 in monthly benefits or less
Applicants age 50 or older, or those applying for more than $3,000 in monthly benefits, will complete the normal underwriting process.
Active GEBA members (current civilian Federal Employees, retired Federal Employees, prior Federal Employees who are vested with at least 5 years of Federal service, retired or disabled U.S. Military personnel) may apply for Long-Term Disability coverage if they are working full-time (at least 30 hours per week), under age 60, not a resident of an excluded state, and not on active duty in the Armed Forces. Note: Coverage is unavailable for applicants residing in NH, ME, OR, and VT.
Here’s what GEBA’s Comprehensive Disability Insurance Includes:**
Partial Disability and Rehabilitation Benefits
Premiums will be waived after you begin receiving your benefit for a covered disability.
Coverage for a working spouse/domestic partner is also available (Member coverage is required)
Exclusive member-only group rates with many convenient payment options
Benefits are protected from inflation. Cost of Living Adjustments begins with your second year of collecting disability.
Up to six annual adjustments will be made, with a maximum annual increase of 6%.
Survivor Income Benefits, when available, are paid to the insured’s designated beneficiary (a benefit equal to three monthly disability payments)
How much will it cost?
Disabilities are more common than many people realize — and they don’t necessarily happen near retirement. An unexpected illness or injury during your peak earning years could disrupt decades of financial planning.
Think the Government has you Covered?
GEBA vs. FERS
Even if you qualify, the FERS disability coverage you have as a government employee may not be enough if you suffer a long term disability.
Supplemental coverage from GEBA offers flexibility that may make sense.
Plus, GEBA also offers coverage for a working spouse/domestic partner, FERS does not. (GEBA member coverage is required)
30-DAY
FREE LOOK
When you become insured, you will be sent a Certificate of Insurance summarizing your coverage.
If you’re not completely satisfied with the Certificate’s terms you may return it, without claim, within 30 days and your premium will be promptly refunded. No questions asked! Your insurance will then be invalidated.
The Strength of
New York Life
* Consult your tax advisor.
** Before applying and for important information including features, cost, eligibility, renewability, limitations, and exclusions, please read the additional policy information. Coverage is not available in all states at this time. Please contact GEBA for details.
† QuickDecisionSM processing can offer an immediate decision about your application. This approval is conditional on confirmation of your association membership status and coverage limit eligibility. A referral decision may be given if an underwriter needs to review your application and may reach out to confirm the information with you. If you are not approved for insurance through QuickDecisionSM processing, you may still be eligible to apply for coverage using traditional/standard underwriting. May not be available in all states. Not available in Puerto Rico.
The NEW YORK LIFE Box Logo is a registered trademark of New York Life Insurance Company and is registered in the United States and in other countries around the world.
The Group Long Term Disability Insurance Plan is underwritten by New York Life Insurance Company, 51 Madison Ave, New York, NY 10010. Under Group Policy G-29344-0 on Policy Form GMR-FACE/G-29344-0
New York Life’s state of domicile is New York, and NAIC ID # is 66915
New York Life is licensed/authorized to transact business in all of the 50 United States, the District of Columbia, Puerto Rico, and Canada. However, not all group plans it underwrites are available in all jurisdictions. Please check the applicable insurance brochures for current availability.
Before applying and for important information including features, cost, eligibility, renewability, limitations, and exclusions, please read the additional policy information. Coverage is not available in all states at this time. Please contact GEBA for details.
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Exclusive Benefits from the Organization Feds Have Trusted Since 1957.
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