 Did you know not all Disability Coverage is the same for every employee? | Disability. When most of us hear the term, we picture someone injured in an accident. But the reality is far different: Multiple sclerosis. Parkinson’s. Anxiety. Musculoskeletal issues. Heart conditions. Back disorders. These are some of the leading causes of disability. They can strike any of us at any time. In fact, before age 65 the risk of having a long-term disability is almost 30% greater than the risk of death. An employer-provided group long-term disability or LTD plan is a great foundation and one of the best benefit dollars to spend. |
But group LTD was never intended to serve the needs of your highest-paid people who are often driving the most value for your organization. Group LTD formulas always have a cap on the benefit amount and rarely cover anything other than base salary.
What sounds like a strong enough benefit (“66 2/3% of salary is covered”) falls far short of actual cash compensation. This Graph charts the results of actual analysis for one client.
What’s worse is that you may discover this limit when it’s too late to do anything about it. May is Disability Insurance Awareness Month, and we invite you to have a conversation with us to learn how we helped this client bridge the gap and provide greater financial security for their key people.
What’s worse is that you may discover this limit when it’s too late to do anything about it. May is Disability Insurance Awareness Month, and we invite you to have a conversation with us to learn how we helped this client bridge the gap and provide greater financial security for their key people.
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