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Small
Group Long Term Disability
Small Group Long Term Disability Insurance replaces a percentage of
your employees' predisability earnings up to a maximum benefit on a
monthly basis. It provides benefits up to age 65 with Standard ADEA
Grading and is available to you if you have three to nine employees.
Maximum Benefit
Maximum monthly benefits range from $2,500 for groups with three or
four lives to $6,000 for groups with five to nine employees. Benefit
percentages are 50%, 60% or 66-2/3% of predisability earnings,
depending upon your industry.
Rate Guarantee Period
The rate you pay to insure your employees is guaranteed to remain
the same for one year. Changes in the premium could occur, however,
if an employee enters a new five-year age band, or experiences an
increase or decrease in predisability earnings. This can happen even
during the one-year guarantee.
Partial Disability Benefit
Disability benefits are available through a Small Group Long Term
Disability policy for employees with a partial disability. No total
disability is ever required for benefit.
Beginning Date
The beginning date indicates the length of time an insured must be
disabled before benefits begin to accrue. For a Small Group Long
Term Disability policy, there are two to choose from: 91 and 181
days. The number of days your employees wait before the beginning
date of their benefits accrual includes the days they are disabled
or partially disabled.
Conversion of Insurance
This important feature allows all eligible employees to extend
disability coverage if for specific reasons their coverage
terminates. Employees must be insured under your plan for at least
one year on the date insurance ends to be eligible.
Our
Claims Management Philosophy
We don't just approve and deny claims. We appoint benefits analysts
who will pick up the phone and call the insured and develop a
working relationship. Our analysts are fully capable of evaluating
and properly adjusting all disability claims.
Our
claims procedures are sound and efficient. We go above and beyond to
track your claim experience and work with you to implement loss
control techniques. We have well established and effective programs
in place to help claimants receive Social Security disability
benefits. And most importantly, we provide in-house and outside
vendor vocational assistance to help claimants return to work.
Pre-Existing Condition Exclusion
Employees will not be covered for a disability caused by a
pre-existing condition. A pre-existing condition is a mental or
physical condition for which an employee has consulted a physician
or practitioner, received medical treatment or services, or taken
prescribed drugs or medications at any time during the pre-existing
condition period.
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