While the business disruption of losing one of your top-tier workers to injury or illness is difficult enough on its own, standard disability insurance can leave a compensation gap for your high earners, undermining the welfare of your business and leaving your affected executive out in the cold.
Executive Disability
Many highly compensated employees are unaware of the financial impact it would have if they were to become sick, disabled, or unable to work. How many of your clients’ executives would have to spend their retirement assets, personal savings, or monetary reserves if they lost their income due to an illness or injury? They may currently have a group LTD plan, but those plans don’t cover an earner’s full salary (bonus, commissions, 401(k) income, etc.), leaving a coverage gap. These plans often leave the company’s highest earners victim to the gap, with significantly less than 60% of their income protected.
Executive Long-term Care
When your clients’ employees can plan for the possibility of needing LTC, their company benefits, too. LTC insurance helps protect productivity among employees who are working caregivers — and helps contain health insurance costs. And their employees want them to offer the solution. By offering it, they can fill the gap in your benefits portfolio, making it easier to attract and retain top talent.
Mike Alberque
VP, Business Development
Northeast & Mid-Atlantic Regions
201.522.1586