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Coldwell Banker Individual Short Term Disablity (ISTD) Benefit

Frequently Asked Questions

ENROLL BY SEP 12, 2019

FAQ'sCommonly asked questions and answers.

Individual Short Term Disability insurance is designed to temporarily replace your earnings if you are unable to work because of an illness or accident. People routinely acquire insurance coverage to protect against the risk of premature death or property damage. However, a disability is far more likely to occur than premature death and the consequences can be financially disastrous.

The basic Internal Revenue Service rule is simple: If you pay the premiums with after-tax dollars, any benefits you receive will be income tax-free. If your company pays the premiums, any benefits you receive will be income taxable.

Benefits are paid to you on a monthly basis after 30 days of an approved disability.

Unum benefits are payable for 12 months.

Your premiums are guaranteed renewable until age 72 as long as the required premiums are paid.

Your policy is effective the first of the month following receipt of the initial payment. Initial payment will be billed after your application is approved and policy is issued.

Disability means that you are unable to perform the material and substantial duties of your occupation, not engaged in any other occupation and you are under a Physician’s care for the injury or covered sickness causing such total disability.

Covered sickness and off the job accidents are covered conditions. Covered sickness means an illness, infection, disease or any other abnormal physical condition, not caused by an injury, which occurs after the coverage effective date, while the policy is in force, and is not excluded by name or specific description in this policy. Off the job accident means an accident which occurs which occurs while you are not working at any job for pay or benefit.

The minimum hours for eligibility is 20 hours per week.

Normal pregnancy is covered, but not in the first 9 months of signing up for Individual Short Term Disability insurance.

Chances of missing work due to illness, injury, or pregnancy are greater than most realize. 5.6% of working individuals will experience a short-term disability due to illness, injury, or pregnancy on average every year. Almost all of these are non-occupational.

Yes. If within ten days of receiving your policy you decide you do not want the coverage you may cancel and receive a full refund.

Your monthly premium will be displayed on the Unum enrollment site. To get a preview, go to the Premium Calculator

Covala Group is a best in class administrative services provider vetted and chosen by Coldwell Banker to enroll and administer this benefit.

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