Disability

For most employees, protecting income in the event of a catastrophic event is a very high priority, yet many do not know what they have at work or even if they have. Some employers do not offer disability programs and many provide disability coverage yet these contracts have shortfalls. These “gaps” require an advisor to point out where the employer’s coverage leaves off. Outside of their employer-sponsored insurance benefits, people understand the importance in purchasing insurance on their personal assets such as their homes, car, and other big ticket items. However, they often overlook protecting the one asset which makes acquiring all other assets possible: their ability to earn income.

The effects of a disability can be financially devastating without the income protection offered by disability insurance. A recent Harvard study indicated that almost half of all personal bankruptcies are the result of an illness or injury.

Highly compensated employees are particularly at risk of significant financial loss should they lose their ability to earn an income during a disability. Most group policies are designed to provide basic coverage to the average wage earner and are inadequate in providing enough income to support a highly compensated employee. By making an individual disability insurance (IDI) policy available as an executive benefit, employers would have a valuable tool for recruiting and retaining key employees while providing protection in the event of a disability.

Group Benefits LLC has the knowledge, expertise and resources to help employers find the appropriate income protection solutions for both rank-and-file and highly compensated employees, including:

  • Short Term Disability (STD)
  • Long Term Disability (LTD)
  • Multi-life Disability
  • Individual and Business Overhead
  • Buy/Sell
  • High Limit Disability for high income professionals