NFP
Benefits Overview – Better Business Bureau of MN & ND
This landing page provides a summary of the core benefit plans offered to all active full‑time employees of the Better Business Bureau of Minnesota and North Dakota. The plans below were issued by Principal Life Insurance Company and renew annually on January 1. Premium details are not included.
Long‑Term Disability (LTD)
This plan replaces a portion of your income if you are unable to work for an extended period due to illness, injury, or pregnancy.
| Feature | Details |
|---|---|
| Benefit Percentage | 60% of your earnings up to $5,000 per month |
| Elimination Period | 90 days before benefits begin |
| Benefit Duration | Varies by age – up to Social Security Normal Retirement Age |
| Mental Health / Substance Limits | 24‑month combined lifetime maximum |
| Rehabilitation Benefit | Participating in a plan may increase benefit by 5% |
Positive: Provides 60% income protection up to $5,000 monthly for extended disabilities.
Watch: Mental health and special conditions limited to 24‑month benefit period.
Basic Life and AD&D
This plan provides financial protection for your beneficiaries in the event of death or accidental injury.
| Feature | Details |
|---|---|
| Benefit Amount | 100% of annual salary, rounded to the next $1,000 |
| Minimum Benefit | $15,000 |
| Maximum Benefit | $50,000 |
| Age Reduction | 35% at 65 / 15% at 70 and older |
| Accidental Death Benefit | 100% payout for loss of life or two major limbs/sight of both eyes off the job |
| Partial AD&D Benefit | 50% for one hand/foot/eye or 25% for thumb and index finger same hand |
| Accelerated Death Benefit | Available if terminally ill to receive portion of life benefit |
| Conversion Option | Convert to individual policy if employment ends |
Positive: Provides combined Life and AD&D protection for greater security.
Watch: Benefit reductions begin at age 65; plan accordingly.