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Disability Insurance

We all work hard at loanDepot, and most of us don’t like the idea of missing work. Life has other plans sometimes, and whether due to illness or injury, we may find ourselves in need of time off work – per Doctor’s orders.

 

One of the greatest stressors of missing work is financial. Short Term Disability can help – especially in states not offering state-sponsored disability plans. Short-term disability plans cover absences from just over a week, to a maximum of 6 months. For medical absences in excess of 6 months, Long-Term Disability provides peace of mind.

When you enroll in short or long-term disability as a new hire, you don't need to complete an Evidence of Insurability (EOI). Electing benefits at any other time requires EOI to be completed.

Short Term Disability

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  • You pay the full cost of coverage​

  • 7-day elimination period before benefit payment begins

  • Benefit equal to 60% of your income while disabled, to a maximum of $3,000/week

  • Plan will coordinate with any state disability plan available, so benefit payment will be lower

  • Plan Summary - CA Employees

  • Plan Summary - Non-CA Employees

Long Term Disability​

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Managers and Above:

  • loanDepot pays the full cost of coverage

  • Benefit equal to 60% of your regular income to a maximum of $10,000/month

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Individual Contributors

  • You pay the full cost of coverage

  • Benefit equal to 60% of your regular income to a maximum of $7,000/month

  • Plan Summary

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