Disability Insurance

Disability Options in the Faculty Optional Retirement Plan

Faculty in the Faculty Optional Retirement Plan (ORP) are provided with long-term disability (LTD) insurance at no cost.  This plan is available through The Standard Insurance Company and provides the following coverage:

• Pays a regular income when you are disabled and cannot work as of the first day of the month after six months of continuous total disability.

• Replaces 60% of your monthly wage base not to exceed a benefit of $4,000 per month, less the sum of benefits from other sources.

• Pays the monthly contribution to the ORP during the period of disability payments.

Click here for the Certificate of Coverage that explains the details of this plan.

 

Disability Options in the Virginia Retirement System

 

Faculty who are in the Virginia Retirement System (VRS) and select the Virginia Sickness and Disability Program (VSDP) as their leave plan are automatically enrolled in short-term disability (STD) and long-term disability (LTD) insurance at no cost. 

 

Faculty who are in the Virginia Retirement System (VRS) and select the "traditional" sick leave plan are not automatically covered by a disability plan.  At their option, these faculty may choose to purchase long-term disability (LTD) insurance at group rates through payroll deduction.  The LTD plan is available through The Standard Insurance Company and provides the following coverage: 

• Pays a regular income when you're disabled and cannot work. 

• Is available without a medical exam if you sign up within 31 days of initial hire.

• Replaces up to 60% of your monthly base salary to a maximum of $5,000 per month, less any Social Security or VRS disability payments, after three months of continuous disability. 

• Pays benefits for as long as disability continues up to age 65 or even longer if you become disabled after age 60. 

• Uses your "own occupation" in determining if you are disabled. 

• Pays for disabilities resulting from nervous and mental conditions (with limitations).

• Allows you to convert to an individual policy if you terminate employment after 12 months participation in the plan.

• Determines monthly costs for the disability insurance by your salary and age.  

Click here for the Certificate of Coverage that explains the details of this plan.  To enroll, contact the VCU Human Resource Generalist for your area for the relevant forms.