BP long-term disability (LTD) plan

Long-term disability may replace a portion of your pay if you are disabled for six months or more
patient's hand on cane

BP's Long-Term Disability (LTD) Plan is designed to replace a portion of your pay if you become disabled for more than six months. If you become disabled, you may be eligible to receive a monthly income of up to 65% of your eligible pay, less offsets. 

Coverage level
Benefit
Maximum monthly
eligible pay considered
Basic (company paid)
Up to 50% of your eligible pay
$40,000
60% (optional coverage amount is employee paid)
An additional 10% of your eligible pay, for a total LTD benefit of up to 60% of your eligible pay
$33,333
65% (optional coverage amount is employee paid)
An additional 15% of your eligible pay, for a total LTD benefit of up to 65% of your eligible pay
$30,769

The minimum LTD benefit is $100 per month. The maximum is $20,000 per month minus any offsets (amounts you may receive from other sources which operate to reduce your LTD benefit). Monthly benefits are based on a 30-day period and are prorated for any period less than 30 days. 

The LTD Plan is insured and administered by Cigna Group Insurance (Cigna), a division of Cigna Corporation. This LTD policy is underwritten by the Life Insurance Company of North America, a Cigna company. 

This description only applies to disabilities incurred after the effective date of this description.


Because this document is intended as a summary of a BP benefits plan, it is not intended to describe each plan provision in full detail. More complete details are contained in the governing plan documents (including applicable insurance policies). While we intend to update this summary on a regular basis, it is possible that at any point this summary may be neither current nor complete. Further, differences between this summary and the applicable plan document are not intended. If, however, any differences are found to exist, the relevant provisions of the applicable plan document — and not the summary — will govern.

BP reserves the right to amend or terminate a plan at any time without advance notice.

 

Publication date: April 2018

 

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