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Today's Terms
Benefit Percentage
Definition:
The benefit payable is usually determined as a percentage of the insured's pre-disability income up to an overall maximum benefit amount.
Supplemental Security Income (SSI):
Definition:
A cash benefit authorized by Title 16 of the federal Social Security Act. Eligibility and benefits are administered by the federal Social Security Administration at field offices throughout each state.
Conversion Privilege
Definition:
If included, this option allows employees who are terminating employment to continue some or all of their LTD coverage at their own expense without submitting evidence of insurability.
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State Statutes Resource Center 