Short- and Long-Term Disability

Disability insurance pays a portion of your income if you’re unable to work because of a serious illness or injury. loanDepot offers Short and Long Term disability plans through Cigna.

Short-Term Disability

You can purchase coverage that replaces up to 60% of your income, to a maximum of $3,000 per week, after a 7 day elimination period. The weekly benefit pays for up to 26 weeks.

Your loanDepot disability benefits will coordinate with any state disability benefits available, so the maximum benefit won’t be higher than the amounts described above. You’ll be responsible for filing any claims directly with the carrier.

You pay the full cost of the STD Plan if you elect coverage.

Long-Term Disability

The LTD plan through Cigna provides income replacement if you have a disability that extends beyond 180 days. 

Full-time managers and above – LTD coverage is automatic and 100% paid by loanDepot. the LTD Plan provides coverage equal to 60% of your pre-disability annual earnings, up to $10,000 per month. Please refer to the Class 2 LTD summary in the sidebar for policy details, including any restrictions and exclusions.

Other full-time employees – You have the option to purchase LTD coverage equal to 60% of your pre-disability annual earnings, up to $7,000 per month. You pay the full cost of the LTD Plan if you elect coverage. Please refer to the Class 1 LTD summary in the sidebar for policy details, including any restrictions and exclusions.