Traditional Group LTD plans typically do not adequately cover highly compensated employees or partners. Our supplemental Disability Insurance plans can be issued on a guaranteed basis to layer on top of existing Group LTD, and even on top of Individual DI to offer complete income protection.
From a sales perspective, the doors that are opened to company H.R. departments are truly amazing when this type of program is introduced. Monthly benefits under this specialty plan are calculated to participate with all underlying disability plans to replace up to 65% of income, including bonus income, 1099 income, K-1 income and even deferred compensation!
For example, an executive that earns $1,000,000 will need a monthly income replacement of $54,000 per month in case of disability. If he/she has a Group LTD plan that caps at $20,000 per month and an individual disability plan that provides an additional $10,000 per month, he/she is still $24,000 short of sufficient income replacement.
Perhaps the best part of our High-Limit Guaranteed Issue plan is that the commissions are not reduced from fully underwritten plans. From our perspective, selling a multi-life disability plan deserves normal commission rates, and can really lead to high commission volumes.
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