Guaranteed Issue Group / Multi Life Disability Insurance
If a disability inhibits one from working the financial strain can be catastrophic; everyday costs suddenly become nearly impossible to cover. Even with a disability insurance plan in place, it may be hard to continue living a fulfilling lifestyle; many plans only cover the bare bones. Because many highly compensated employees have difficulty obtaining adequate and reasonable amounts of disability insurance through their group long term disability insurance plans, PIU has constructed a high limit supplemental group plan.
Take The Case Of…
XYZ Hospital. The hospital had employment contracts with their top executive and medical chairs. The incomes were way beyond the ability of LTD and Individual Disability combined to do the proper job of indemnification. This placed a huge liability onto the books of the hospital.
Solution: Guaranteed Issue Supplemental Disability Insurance up to 75% of income with issue limits as high as $50,000 per month.
PIU has designed both a group and a multi life approach to this problem; both plans offer premium discounts and underwriting concessions. In participation with another disability insurance plan already in place, this plan can insure a person for up to 75% of their income and has issue limits of $100,000 per month or more! We understand that not all people and certainly not all groups are the same; therefore, if your client’s group has special needs, PIU will design a custom group insurance plan to cover them.
At Petersen International Underwriters, we are always trying to introduce new ideas that will help our producers in their business. Our latest productions are three videos that will help you demonstrate to clients the importance and simplicity of supplemental disability insurance that can be offered on a guaranteed basis to groups of 5 individuals or more.