Disability Income Insurance

Disability Income Insurance

Individual disability income insurance coverage can supplement the current long term disability coverage your company may be providing to employees.

Workers today are 3 times more likely to suffer a long term disability than die during their working years. the average monthly Social Security Disability Income payment received from the government is $938. Could you live on this? That's why you need to get Disability Income Insurance today.

What is it?

Supplemental disability income insurance replaces a portion of an employee's income should he or she become too sick or hurt to work.

How is it used?

Coverage is used to supplement the current long term disability coverage your company may be currently providing to employees. Typically, most group long term disability benefits only pay about one-half of an employee's net monthly income.

What are the benefits?

At little or no cost to you, supplemental individual disability income insurance can provide employees with protection at discounted premiums. If coverage also is available under a group LTD plan, for employees who quality for benefits under both, a higher percentage of their income would be replaced.

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Part of attracting and retaining key employees is being able to offer them employee benefits that not only help protect themselves, but their family and income. Offering supplemental disability income insurance is one way to provide higher levels of protection for your employees without incurring any additional costs.

What are the different types of disability income insurance that can help in attracting and retaining key employees?

Executive Carve-Out

disability income insurance Offered to executives as an employer-sponsored benefit. Delivering enhanced benefits to the executives and senior professionals in your company could help to keep you competitive in the market. An executive benefit plan can be developed to satisfy the disability income insurance protection needs of your executives. Typically, most group long term disability benefits may only pay a fraction of a high-income earning executive's net monthly income. You can obtain a policy to supplement the long term disability group coverage your company may be currently providing. And executives have the flexibility to purchase a policy to fit their needs and more closely align with their overall income. Supplemental disability income insurance issued on a guaranteed standard issue basis provides executives important disability income insurance coverage without medical underwriting. It can be offered to executives on a voluntary basis or as a company-paid benefit.

Guaranteed Standard Issue

Offered to employees on a voluntary basis or as a company-paid benefit. Supplemental disability income insurance issued on a guaranteed standard issue basis provides employees important disability income insurance coverage without medical underwriting. This coverage is subject to certain company parameters and participation requirements. Coverage can be provided to employees on a voluntary basis, or as a company-paid benefit. This coverage can be implemented with little or no cost to employers.

Individual, Fully Underwritten

Supplements employer-provided disability income group benefits. Individual, fully underwritten disability income insurance can be offered to your employees to supplement the long term disability group coverage your company may be currently providing. Typically, group long term disability benefits only pay about half an employee's net monthly income. Employees can purchase an individually owned, supplemental policy to fit their needs and more closely align with their overall income. Supplemental individual disability income insurance can provide employees with higher levels of income protection at discounted premiums. Coverage is non-cancellable and fully portable.

Prefer to speak to someone about individual, fully underwritten disability income insurance? call 866-392-INFO

The information provided is not written or intended as tax or legal advice. Our representatives are not authorized to give tax or legal advice. Individuals and business owners are encouraged to seek professional advice from their own tax or legal counsel.