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March 2021 Basic Life and Long -Term Disability Comparison for City of Sunny Isles Beach
<br />$ Change in Total Premium
<br />LONG TERM DISABILITY
<br />Carrier
<br />Class Defined
<br />Benefits
<br />Maximum Monthly Benefit
<br />Benefit %
<br />Elimination Period
<br />Maximum Benefit Period
<br />Pre-existing Condition Limitation
<br />Mental & Nervous
<br />Survivor Income
<br />Definition of Disabilty
<br />Own Occupation Coverage Period
<br />Return to Work Incentive
<br />Contribution Type
<br />Participation Requirement
<br />Rate Guarantee months
<br />Covered Volume
<br />1-11— -
<br />LTD Rate per $100 Monthly Benefit
<br />Monthly Premium
<br />Total Annual LTD Premium
<br />$ Change in Annual Premium
<br />Mutual of
<br />Mutual of Omaha
<br />All FT City Managers
<br />I All FT Department I All Other FT
<br />$300,000
<br />2x Salary to $300,000 1 Salary to $300,000
<br />$300,000
<br />2x Sala to $300,000 1x Sala to $300,000
<br />$300,000
<br />$300,000
<br />$300,000
<br />24 Months
<br />to 65%
<br />RBD to SSNRA I 24 Months
<br />..........
<br />to 40%
<br />Non -Contributory
<br />to 25%
<br />Current
<br />$1,196,257
<br />80% to $240,000
<br />$3,828.02
<br />... .....1._
<br />Included
<br />Included
<br />Not Included
<br />Non -Contributory
<br />100%
<br />Expires 2/28/2020
<br />$15,450,600
<br />-------
<br />$0.090
<br />$0.020
<br />$1,699.57
<br />$20,394.79
<br />Mutual of
<br />Omaha
<br />FT City Manager, Attorneys and
<br />All other FT Employees actively at
<br />Dept Managers Active) at Work
<br />work
<br />$10,000
<br />60% _
<br />_ _
<br />-90
<br />Days
<br />RBD to SSNRA
<br />3/12
<br />24 Months
<br />3 Months
<br />RBD to SSNRA I 24 Months
<br />..........
<br />Included
<br />Non -Contributory
<br />100%
<br />Current
<br />$1,196,257
<br />$0.320
<br />$3,828.02
<br />... .....1._
<br />$45,936.25
<br />$0.00
<br />Mutual of Omaha
<br />FT City Manager, Attorneys and All other FT Employees actively at
<br />Dept Managers Actively at Work I work
<br />$10,000
<br />60%
<br />90 Days
<br />ADEA 1/SSNRA
<br />----- -
<br />3/12
<br />24 Months
<br />3 Months
<br />-
<br />SSNRAI 24 Months
<br />12 Months
<br />Non -Contributory
<br />100%
<br />Expires 3/1/22
<br />$1,196,257___
<br />$0.320
<br />$3,828.02
<br />$45,936.25
<br />$0.00
<br />Rates shown are based on census data provided. Flnal rates are subject to underwriting and actual enrollment.
<br />This comparison is for illustrative purposes only. The full policy and certificate of coverage wig supersede any
<br />and all materials provided herein Page 1 of 1
<br />Mutual of Omaha
<br />All FT City Managers
<br />I All FT Department I All Other FT
<br />$300,000
<br />2x Salary to $300,000 1 x Salam to 5300,000
<br />$300,000
<br />2x Sala to $300,000 1x Sala to $300 000
<br />$300,000
<br />$300,000
<br />$300,000
<br />to 65%
<br />to 40%
<br />to 25%
<br />80% to $240,000
<br />Included
<br />Included
<br />Not Included
<br />Non -Contributory
<br />100%
<br />24 Months
<br />$15,450,600
<br />__.
<br />$0.090 --- ......
<br />$0.020
<br />$1,699.57
<br />$20,394.79
<br />$0.00
<br />Mutual of Omaha
<br />FT City Manager, Attorneys and All other FT Employees actively at
<br />Dept Managers Actively at Work I work
<br />$10,000
<br />60%
<br />90 Days
<br />ADEA 1/SSNRA
<br />----- -
<br />3/12
<br />24 Months
<br />3 Months
<br />-
<br />SSNRAI 24 Months
<br />12 Months
<br />Non -Contributory
<br />100%
<br />Expires 3/1/22
<br />$1,196,257___
<br />$0.320
<br />$3,828.02
<br />$45,936.25
<br />$0.00
<br />Rates shown are based on census data provided. Flnal rates are subject to underwriting and actual enrollment.
<br />This comparison is for illustrative purposes only. The full policy and certificate of coverage wig supersede any
<br />and all materials provided herein Page 1 of 1
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