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Offsets for Disability Benefits from Other Sources
Your benefits under Group LTD coverage are reduced by disability income benefits you receive (or may be eligible to receive, even if you do not apply) from certain other sources ("other income benefits"), not including private disability insurance. These sources include, but are not limited to:
  • Workers' compensation (including payments for temporary and permanent disability, payments for vocational rehabilitation, rehabilitation maintenance allowance payments, and payments under a Compromise and Release or Findings Award);
  • Federal Social Security disability benefits (including benefits for family members received as a result of your disability);
  • Short-term Disability;
  • Other federal or state disability plans;
  • A governmental retirement system;
  • Amounts received as a loss of time benefit under other group insurance plans; maritime doctrine of maintenance, wages, and cures; and partnership, proprietorship, or other draws;
  • Amounts received from a third party by judgment, settlement, or otherwise, excluding attorney fees.
With the exception of certain retirement payments, Prudential will only subtract sources of income that are payable as a result of the same disability. Prudential will not reduce your payment by your Social Security retirement income if your disability begins after age 65 and you were already receiving Social Security retirement payments.
If any of the "other income benefits" are paid to you in a lump sum, the amount of the lump sum will be prorated for the period of time the sum would have been paid, if paid periodically. The "other income benefits" will also be used to reduce your monthly disability payments under the plan.
Please Note: Payments from the JPMorgan Chase Retirement and 401(k) Savings Plans are not considered "other income benefits" for this purpose and therefore will not reduce your monthly disability payment. Furthermore, in no event will your long-term disability benefit be reduced below $100 a month — regardless of the amount of any "other income benefits."