How does the Earnings GuardTM benefit work and pay?
A. You choose from three levels of protection – $1,000, $2,000 or $3,000 in monthly benefits. If you are involved in a disabling accident, the plan will pay up to 70% of your basic monthly pay** for up to one year. This is money, of course, you will receive in addition to any other benefits you may receive through social security, your employer’s disability insurance plan or other private disability insurance plan. However, any amount you collect from workers’ compensation programs will be deducted from the Earnings GuardTM monthly benefits. There are no restrictions on how to use it. **Basic monthly pay means the 12-month average of your regular monthly rate of pay, not counting commissions, bonuses, overtime pay or any other fringe benefit or extra compensation. This 12-month period ends on the last day of active employment prior to becoming disabled.
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