Calculating The Standard Long-Term Disability Prem

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Calculate The Standand Disability Premium

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1. Enter your annual salary: $

Monthly Income Benefit Premium Calculation:

2.	Divide by 12 for Monthly Wage Base	$
	*The maximum covered monthly base salary for the Monthly Income Benefit is $15,000. Therefore, the maximum monthly base salary figure for Monthly Income Benefit if $15,000

2a.	Covered Monthly Salary Base	$
3.	Divide by 100	$
4.	Multiply the number on line 3 by the Cost Factor (.144)	$
5.	Monthly Cost of the Monthly Income Benefit	$

Monthly Annuity Premium Benefit Calculation:

	*Your full monthly base salary up to the 2007 annual compensation limit of $225,000 if hired on or after July 1, 1996 or $335,000 if hired prior to July 1, 1996 is used to calculate the Monthly Annuity Premium Benefit.

6.	Divide the number on line 2 by 100	$
7.	Multiply the number on line 6 by the Cost Factor (.094)	$
8.	Monthly Cost of the Monthly Annuity Premium Benefit	$

Total Monthly Cost

NOTE: The basic annual salary includes 1/12th of any additional salary paid to you by your employer for authorized work in summer school, evening classes, special seminars, and executive programs during the 12-month period immediately prior to the month in which disability occurs. The basic annual wage excludes overtime pay, bonuses, and other types of extra compensation. (If your basic annual wage consists of other than 12 monthly payments, your monthly wage base will be 1/12th of the total annual amount of such payments.)

Last modified: November 12, 2007

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