Long-Term Disability

Why would I need Long-Term Disability insurance? If there’s one thing you can expect, it’s the unexpected. Whether you’re responsible for a family or just yourself, you may have rent or mortgage payments, tuition, and regular monthly bills. If you’re unable to work, there’s an affordable way to help protect your lifestyle and the people who depend on you.

Voluntary Long Term Disability (LTD) insurance from Lincoln Financial Group provides income in addition to disability coverage you may already have, such as the Oklahoma Teachers' Retirement System (OTRS). Or if you have no other income options available in the case of disability, then you should consider enrolling in Voluntary Long Term Disability (LTD) insurance to provide long-term income and protect the lifestyle you had before you became disabled.

Employees may participate in optional long-term disability plans by paying the low monthly premium. Premiums are deducted from your paycheck either before or after taxes are calculated. You must be off work at least 180 days (6-months) and be approved before benefits begin. Benefit payments are less when they are offset by other sources of income such as Oklahoma Teachers' Retirement System and Social Security. The benefit period is limited to two years if there is a mental health diagnosis.

Things to Consider

Long-term disability insurance is available in the three levels described below.

Plan 1

Plan 1 - 66 2/3 % of pay, includes a cost-of-living adjustment and contributions to the Defined Contribution Plan.

  • Benefit Percentage
    • 66 2/3%
  • Maximum Monthly Benefit 
    • $5,000
  • Minimum Monthly Benefits
    • $100
  • Annual Income Requirement
    • None

Plan 2

Plan 2 - 50 % of pay, does not include cost-of-living adjustment or a contribution to the Defined Contribution Plan.

  • Benefit Percentage
    • 50%
  • Maximum Monthly Benefit 
    • $2,000
  • Minimum Monthly Benefits
    • $100
  • Annual Income Requirement
    • None

High Option (Plan 5)

High Option - 66 2/3% of pay, applies only to employees earning $70,000 or more annually.

  • Benefit Percentage
    • 66 2/3%
  • Maximum Monthly Benefit 
    • $15,000
  • Minimum Monthly Benefits
    • $100
  • Annual Income Requirement
    • $70,000

Changes in 2017

Beginning January 1, 2017, Lincoln Financial Group (LFG) will replace Standard Insurance as the administrator of OU's long term disability plans. The plans and rates will remain the same.

If a participant previously elected Option 2 (50 percent of pay), and they want to increase the coverage and elect Option 1 (66 2/3 percent of pay) during annual enrollment, a one-year pre-existing condition will apply to the increased benefit amount. If the individual previously elected no coverage during annual enrollment, he or she may only elect Option 2, and the one-year pre-existing condition will apply.