HomeServices offers short-and long-term disability benefits which provide income replacement in the event you are unable to work due to illness or injury.
Short-term disability (STD) coverage is administered by Prudential. The STD benefit provides a portion of your pay for up to 26 weeks if you are unable to work due to illness or non-work-related injury. You are eligible for STD coverage after 6 months of service. This coverage is provided at no cost to you. The following STD benefit is available based on your length of service with HomeServices:
- 60 percent of your pay if you are disabled after six months of continuous service
- 70 percent of your pay if you are disabled after one year of continuous service
Disability benefits begin the eighth day after seven consecutive days (including Saturdays and Sundays) of illness or disability. If you are hospitalized, disability benefits begin on the first day of hospitalization.
If you work in a state with a statutory mandated disability benefit plan the provisions of that state’s plan will apply. Please refer to the state benefit plan for more information.
Long-term disability (LTD) coverage provides income replacement if you are unable to work due to an illness or non-work-related injury lasting more than six months. This benefit is administered by Prudential and is provided to you at no cost to you. The plan benefit provides 60 percent income replacement up to a maximum of $15,000 per month. In addition to your basic LTD coverage, HomeServices offers an LTD Buy Up option, which allows you to purchase additional LTD coverage equal to 66.7 percent of your pay. This benefit provides an additional 6.7 percent of income replacement with a maximum benefit of $17,500 per month. If you are disabled, your income replacement at the 60 percent benefit level will be subject to taxes, however the buy up amount of 6.7 percent will be tax free.
LTD benefits continue until:
- You recover and are no longer considered disabled.
- You reach age 67. (If you become disabled after you reach age 62, a schedule will determine how long you will receive LTD benefits).
- You fail to furnish proof of disability when requested from Prudential.
To report a leave of absence or disability, call Prudential at 877-367-7781.