Executives
High Limit Executive Income Protection
The maximum monthly benefit of the long term disability coverage provided by most healthcare institutions is based on the average income of the institution’s employees and is unlikely to provide C-Suite or senior leadership an adequate level of protection.
This gap in protection can be addressed by introducing or providing individual long term disability contracts. Through these contracts, highly compensated executives can receive the same percentage of income replacement that is provided to the balance of employees and can insure non-salary components of their compensation packages.
Individual Policies
- Raising the maximum monthly benefit to as great at $35,000
- Providing coverage without having to satisfy medical underwriting requirements*
- Locking in level premiums that aren't affected by future claims experience
- Insuring non-salary compensation
- Insuring retirement plan contributions**
- Obtaining permanent rate discounts
- Being able to maintain coverage after employment.
The introduction of these policies will not require any change to the coverage has in place at this time.
* The amount of coverage offered without medical underwriting will be determined by the number of individuals being insured and is only available when coverage is purchased by the employer.
** Not available in all states
