Individual Supplemental Disability
Most companies provide group disability insurance coverage to their employees
as part of a benefits plan. Unfortunately the majority of group long-term disability
plans fail to adequately protect highly compensated employees and executives.
Group plans are traditionally employer-paid and are subject to taxes and a
benefit caps. Most plans do not include incentive-based compensation in the
disability benefit formula. This leaves highly compensated employees and
executives exposed to a significant loss of income should they become disabled.
Individual supplemental disability insurance coverage provides additional
insurance that is integrated with the employer’s group program to provide
a comprehensive solution for protecting the employees.
Guaranteed Issue Supplemental Disability Insurance
When individual supplemental disability is offered through an employer as
either voluntary or company-paid, the policies are provided on a guaranteed
issue basis (no medical underwriting) and the rates are discounted by up to 35%.
Executive Income Assurance Plan™
The Westport Group has developed The Executive Income Assurance Plan™
to address the specific disability insurance needs of highly compensated executives, partners and employees. This plan can provide additional coverage on top of
Group Long-Term Disability (GLTD) plans, as well as supplemental disability
plans. The Executive Income Assurance™ Plan can provide protection for incomes
up to $4,000,000 per year, with a benefit maximum of 60% of gross compensation
to $200,000 per month. We have secured this Plan on a guaranteed issue basis
(no medical underwriting required).
The Combination Approach to
- Complete Your Disability Needs
- Will help eliminate Reverse Discrimination
- Provides flexibility
- Provides greater stability of the GLTD Plan
- Replaces adequate level of total compensation
TWG has the ability to provide benefits up to
$200,000 in monthly benefits. Most programs
are delivered on a guaranteed issue basis.
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