Disability Insurance
M/I Homes partners with New York Life (NYL) to provide you with Short Term (STD) and Long Term Disability (LTD) insurance to protect a portion of your income if you become unable to work due to a disabling illness or accident. This coverage is automatically provided at no cost to you.
Contact Information
Short Term Disability Insurance (Company Paid)
Short Term Disability protects a portion of your income during the initial weeks of an eligible disabling illness, accident, or medical leave. STD benefits begin after a 14-day waiting period and provides a continual source of income for up to 26 weeks.
STD Benefit Amount
The STD benefit is 60% of your base salary (or commission value for commissioned employees) up to a maximum of $15,000 a month.
Long Term Disability Insurance (Company Paid)
Long Term Disability protects a portion of your income if your approved total disability lasts longer than 180 days (26 weeks). Benefits continue until you can return to work or your 65th birthday, if you are under age 62 at the time of disability. If you are over age 62, please review the “Maximum Benefit Period.” Total disability means you are unable to perform all material and substantial duties of your regular occupation on an active employment basis.
LTD Benefit Amount
The LTD plan benefit is 60% of your base salary (or commission value for commissioned employees) up to a maximum of $15,000 a month. Your LTD benefits will be reduced by other disability benefits you are eligible for, such as Social Security.
Base Salary/Commission Value Definition
| Employment Classification | Base Salary Definition |
|---|---|
| Non-Commissioned Employees | Base salary not including overtime pay, bonuses, or any other additional compensation |
| Commissioned Employees | The greater of base salary (if applicable) and net commissions for the previous calendar year or annualized draw amount |
This Benefits Website provides general information for our benefits-eligible employees; however, more detailed information is available within the plan documents and legal contracts between our company and the insurance providers. In case of any discrepancy between this Benefits Website and the plan documents, the plan documents always govern and determine your exact benefits. In addition, the company reserves the right to modify or terminate any benefit plan at any time. Benefits are not a guarantee of employment.