SPARK Individual Short Term Disability (ISTD) Benefit

Frequently Asked Questions

ENROLL BY NOV 15, 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.

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.

30 days must pass between your first day of a covered disability and the day you can begin to accrue your disability benefits..

Your premiums are guaranteed renewable until age 72 and will not change due to age as long as the required premiums are paid on time.

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.

Individual Short Term Disability Insurance can pay you a percentage of your monthly salary if you become injured or ill due to a covered off-the job disability or covered pregnancy.

The minimum hours for eligibility is 20 hours per week.

Pregnancy is considered the same as any other covered illness after the policy has been in effect for 9 months. The available monthly benefits will be paid upon fulfillment of the elimination period. Benefits will not be paid if the insured individuals gives birth within nine months after the coverage becomes effective. However, medical complications of pregnancy may be considered as any other covered sickness subject to pre-existing condition limitations.

Yes. If you become disabled because of a pre-existing condition, we will not pay for a disability period if it begins during the first 12 months this policy is in force.
Pre-existing condition means a sickness or physical condition for which within 12 months before the coverage effective date: a) Symptoms existed that would cause an ordinary prudent person to seek advice or treatment from a physician; or b) You were treated, received medical advice from a physician or had taken prescribed medicine.

Your monthly premium will be displayed on the insurance carrier 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 SPARK to enroll and administer this benefit.

SPARK is the Association of Real Estate Professionals, which provides members-only access to a myriad of solutions to help further your career as a real estate professional.

The policy or its provisions may vary or be unavailable in some states.  The policy has exclusions and limitations which may affect any benefits payable.  See the actual policy or your Unum representative for specific provisions and details of availability.

Underwritten by Provident Life and Accident Insurance Company, Chattanooga, TN.  In New York, underwritten by First Unum Life Insurance Company, New York, NY.

This policy provides disability income insurance only. It does NOT provide basic hospital, basic medical or major medical insurance as defined by the New York State Department of Financial Services. The expected benefit ratio for this policy is 50% percent. This ratio is the portion of future premiums that the company expects to return as benefits, when averaged over all people with this policy.

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