Long Term Disability
Benefit Facts :
- One in five 35 year olds will be disabled for 90 days or more.
- The average length of disability for a 35 year old disabled for 90 days will be 5.1 years (Society of Actuaries)
Employer Problem :
- Your key employee has been disabled for 90 days and his doctor advises that it looks like the disability will run for the whole year. How long do you continue his/her salary ?
The Group Long Term Disability Solution :
- Employer sponsored Long Term Disability plans.
- Executive/Manager carve out plans to lower costs.
- Benefit design to fully reward executives with portability and 100% compensation.
- Incentive benefits to reward return to work.
- Analysis of competitive offerings to enhance benefits and lower costs.
- Annual review of competition to ensure low employer costs.
- Design plan to meet employer benefits and costs :
- 60% Benefits
- 66 2/3% Benefit Plans
- 60% and 70% All Sources
