Long-Term Disability Insurance
Help protect your salary with disability insurance
Life has changed, but the need to protect and provide for loved ones has not. More than ever, it’s important to help ensure that you and your family are prepared to meet essential living expenses should you become unable to work.
Help Keep Your Income Coming In
Receive a portion of your pre-disability income if you’re unable to work.
Long-Term Disability Insurance Options
Long-Term Disability
Under the IBM Long-Term Disability Plan (the “LTD Plan”), you are eligible for a monthly income benefit, subject to the limitations and conditions of the Plan, if you are disabled and have completed the elimination period. The employee contribution is different for those with less than five years of services and those who have more than five years of service.
Starting January 1, 2024, the monthly income benefit will be capped at $20,000 for the 50% Plan and $26,667 for the 66 2/3% Plan.
Long-Term Disability – more than 5 years of service
IBM automatically provides coverage of 50% of your regular monthly compensation at no cost to you.
You may choose to purchase coverage of 66 2/3% of your regular monthly compensation during annual enrollment. Rates vary based on age and regular monthly compensation, and premiums are deducted on a pre-tax basis. Rates may be revised annually and are provided in a supplemental sheet that is available from the IBM Employee Services Center upon request. If you do not purchase 66 2/3% coverage during annual enrollment, your default coverage will be 50%.
If you choose to increase your LTD coverage to the 66 2/3% option within 30 days of reaching five years of service, a medical review will not be required. If you wish to increase your LTD coverage at a later time, you may do so during annual enrollment and a medical review will be required.
Long-Term Disability – less than 5 years of service
You may choose to enroll in one of the following coverage options:
- 50% of regular monthly compensation
- 66 2/3% of regular monthly compensation
- No LTD coverage
If you choose “No LTD coverage”, you will not receive salary continuation benefits beyond those offered by the IBM Short-Term Disability Plan. If you do not choose an LTD coverage option when you are first eligible to enroll, you will be automatically enrolled in 50% income replacement coverage. If you choose to increase your LTD coverage at a later time from “No LTD coverage” to the 50% or 66 2/3% option, or from the 50% option to the 66 2/3% option prior to attaining 5 years of service, you may do so during an IBM annual enrollment period and a medical review will be required.
If you choose to purchase coverage of 50% or 66 2/3%, rates will vary based on age and regular monthly compensation, and premiums are deducted on a pre-tax basis. Rates may be revised annually and are provided in a supplemental sheet that is available from the IBM Employee Services Center upon request.
Long-Term Disability Insurance FAQs
Consider any expenses you may incur in the running of your household, including car payments, mortgage payments, groceries, child care, tuition and more, that would still need to be covered in the event of a disability.
Depending upon the amount of coverage you choose, payment will be made directly to you — not your employer, hospital, doctor or insurance company.
Enrolling in a plan is not mandatory, but it is a good idea and an affordable way to help protect your income. Without disability insurance, you may need to use your savings or tap into other assets to cover your essential living expenses while you recover from an accident or illness.
MetLife offers various ways to submit your claim based on your plan, including online, mail and phone options. Plus, you can track the status of your claim online or on the MetLife US App. Search "MetLife" on iTunes® App Store or Google Play to download the app.
401(k) Disability Protection Plan (for IBMers hired before September 2023)
If you enrolled in the 401(k) Disability Protection Plan your plan prior to September 2023 you plan is still in place. Enrollment is closed for this plan.
Special Considerations:
If you work in a state with state-mandated disability or paid medical leave benefits (“State Benefits”), you should carefully consider whether to enroll for short term disability (STD). In California, Connecticut, Hawaii, Massachusetts, New Jersey, New York, Puerto Rico, Rhode Island, Washington, Oregon, and Colorado (starting 1/1/24), if eligible, you must apply for State Benefits. Your STD benefit will be reduced by State Benefits or other government benefits that apply. Depending on your compensation, the amount of the State Benefit, and other factors, you may only receive the minimum weekly benefit. Please consider, based on your individual circumstances, whether you need additional coverage beyond the State Benefit.
1 Like most disability income insurance policies, MetLife’s policies contain certain exclusions, waiting periods, reductions, limitations and terms for keeping them in force. Please refer to the IBM Summary Plan Description for more details by visiting www.NetBenefits.com/IBM or call the IBM Benefits Center - Provided by Fidelity at 1-866-937-0720.