Disability Coverage

2020 and 2021 Plan Year Information

Disability Coverage

Disability coverage provides you with financial income protection if you become disabled and are unable to work due to illness, injury or pregnancy

Short-Term Disability (STD) Coverage

COVID-19 Update: The Firm has temporarily adjusted this policy as follows to better support employees.

Benefits-eligible employees who have been affected by COVID-19 (or any other illness) and cannot work due to their own disability or illness, should call MetLife as soon as practicable at 800-498-5306 to request Short-Term Disability benefits.

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Short-Term Disability (STD) insurance is provided at no cost to benefits-eligible employees. However, the STD benefits on this site do not apply to Saxon employees of the Morgan Stanley US Residential Mortgage Business. For more information, Saxon employees should see the Benefit Center website for their STD policy.

Additional limitations and exclusions may apply. See the Health Benefits and Insurance SPD for details.

Benefits in Brief

  • If you’re unable to work due to illness or injury, the Firm covers your salary for 180 days.
  • Elect Long-Term Disability coverage to protect yourself beyond that.
Short-Term Disability Benefit
Benefit

See the Health Benefits and Insurance SPD for benefit information.

When Benefits Begin

When MetLife declares you disabled and you have been unable to work due to an injury, illness or pregnancy for eight or more consecutive calendar days

How Long Benefits Last

Up to 180 days retroactive to your first day of disability

A Note About Short-Term Disability (STD) Coverage

If you live or work in California, Hawaii, New Jersey, Rhode Island or Puerto Rico, you must apply for benefits through the applicable state disability plan. You will incur a payroll deduction for a mandatory STD program required by your state. For your convenience, state-provided benefits you are eligible to receive are included in your Morgan Stanley paycheck (unless you live in the state of Hawaii). If you receive any state-provided benefits separately, you must contact MetLife and return these benefits to Morgan Stanley. You are not entitled to receive more than the total amount of Morgan Stanley STD benefits and any state-provided benefits are an offset to the benefits provided by the STD benefits under the Plan.

Long-Term Disability (LTD) Coverage

U.S. benefits-eligible employees will default into Long-Term Disability coverage during the benefits enrollment period as a way to protect a portion of their income if they are unable to work due to illness or injury. (Limitations and exclusions may apply.) You pay the full cost of Long-Term Disability. Your contributions are deducted from your pay on an after-tax basis.

Benefits in Brief

Continue your income if you can’t work due to illness or injury.

  • The Firm’s Short-Term Disability coverage lasts for 180 days. Can you afford to live without your paycheck after that?
Long-Term Disability Benefit
Benefit

60% of your benefits eligible earnings, up to $25,000 maximum per month

When Benefits Begin

When MetLife declares you have been disabled for 180 days

How Long Benefits Last

See the Health Benefits and Insurance SPD for benefit information.

Additional Coverage Option

Employees with eligible pay of $500,000 or more may be eligible to purchase up to $15,000 per month of additional portable Individual Disability Income Insurance coverage issued by Unum. If you are eligible, Lenox Advisors, financial professionals with expertise in executive benefits and individual insurance, will contact you within the first quarter of the year.