Disability

If You Can't Work (Disability Benefits)

Short-Term Disability (STD):

• Benefit Amount: A weekly taxable benefit if you are disabled from a non-work-related injury or sickness.

  • $925/week if your disability begins on or after July 1, 2023.

  • This amount increases over the years, reaching $1,025/week if your disability begins on or after January 1, 2028.

• Waiting Period: Benefits start on the 1st day for an accident or hospitalization, and the 4th day for sickness.

• Duration: Up to 26 weeks if you have less than one year of service, and up to 39 weeks if you have one year or more.

Long-Term Disability (LTD):

• Eligibility: You are eligible after one year of continuous service.

• Benefit Amount: A monthly taxable benefit that starts after your STD or Employment Insurance benefits run out.

  • $2,700/month if your disability begins on or after January 1, 2024.

  • This amount increases over the years, reaching $2,900/month if your disability begins on or after January 1, 2028.

• Duration: Benefits can last up to age 65 if you have two or more years of service when your disability starts.

Life and Accident Insurance

In the event of your death, your beneficiary will receive a payment.

• Basic Life Insurance: $100,000.

• Accidental Death & Dismemberment (AD&D):

  • $100,000 for you.

  • $5,000 for a covered spouse or child.

• Workplace Accident: An additional $100,000 is paid if your death is the result of an accident on IOC property.

• Optional Insurance: You can purchase an extra package that includes $52,500 in life insurance and $50,000 in AD&D for yourself, plus coverage for your spouse and children.