ADDITIONAL PROTECTION
Long-Term Disability
M&T Bank provides LTD insurance to help protect your income for an extended illness or injury.
Added LTD coverage
You have the option to increase your employer-paid Long-Term Disability (LTD) coverage, administered by Unum.
How the plan works
If you are unable to work for more than 26 weeks, M&T Bank provides salary continuation—enough credits to purchase 50% coverage.
During Open Enrollment, you have the option to elect a salary continuation percentage of 50%, 60% or 66.66% of your frozen earnings. The monthly maximum is $25,000. The duration of your LTD benefit depends on your age at the time of disability.
Good to know
LTD elections cannot be changed during the year unless you have a qualifying event. Your next opportunity to add, drop or change coverage is during next year's Open Enrollment.
Note: You cannot change your election when out on a medical leave of absence.
Your tax options
You can choose when your LTD benefit is taxed:
- Pre-tax deduction, decreases taxable income. When you receive the benefit it will be taxed
- Post-tax deduction, does not decrease taxable income. When you receive the benefits, it will not be taxed
To help you decide, review 2027 premiums when you enroll on Workday
Your LTD coverage carries over.
If you do not change your LTD election during Open Enrollment, your current election will carry over to 2027. You will be enrolled at the same coverage level and pay 2027 premiums. View premiums in Workday.
More details on LTD coverage
LTD provides disability income insurance only. It does not provide basic hospital, basic medical or major medical insurance as defined by the New York State Department of Financial Services. For details, review the Long-Term Disability Plan Summary.