Download - COMPLETE DISABILITY PRODUCT PORTFOLIO
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COMPLETE DISABILITY PRODUCT COMPLETE DISABILITY PRODUCT PORTFOLIOPORTFOLIO
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Individual CoverageIndividual Coverage
True “Own Occupation” DefinitionTrue “Own Occupation” Definition
Business Overhead ExpenseBusiness Overhead Expense
Buy-SellBuy-Sell
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Mortgage ProtectionMortgage Protection
Retirement CompletionRetirement Completion
Catastrophic BenefitCatastrophic Benefit
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Blue Collar
High LimitHigh Limit
Impaired RiskImpaired Risk
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The Three Areas of Disability The Three Areas of Disability UnderwritingUnderwriting
1.1. OccupationOccupation
2.2. CompensationCompensation
3.3. Medical HistoryMedical History
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Government Employees Government Employees
Police and FiremenPolice and Firemen
Armed ForcesArmed Forces
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Home Based Business Home Based Business
Newly Self-EmployedNewly Self-Employed
Young Professional LimitsYoung Professional Limits
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Recovery BenefitRecovery Benefit
Qualified Sick PayQualified Sick Pay
Return of PremiumReturn of Premium
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Group Supplement/ConversionGroup Supplement/Conversion
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GROUP PLAN LIMITATIONSGROUP PLAN LIMITATIONS
BENEFITS ARE TAXABLE
IMPOSED CAP
NOT PORTABLE
RESTRICTIVE LANGUAGE
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The Areas of Disability BenefitThe Areas of Disability Benefit
1. TOTALLY DISABLED AND NOT WORKING: 1. TOTALLY DISABLED AND NOT WORKING: (Cannot perform material and substantial duties of (Cannot perform material and substantial duties of YOUR job) (75% OR MORE OF INCOME LOST*) YOUR job) (75% OR MORE OF INCOME LOST*)
INDIVIDUAL: 100% OF MONTHLY BENEFIT INDIVIDUAL: 100% OF MONTHLY BENEFIT
(APPROX. 60% OF INCOME*)(APPROX. 60% OF INCOME*)
GROUP LTD: 100% OF MONTHLY BENEFIT GROUP LTD: 100% OF MONTHLY BENEFIT
(APPROX. 60% OF INCOME*)(APPROX. 60% OF INCOME*)
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The Areas of Disability BenefitThe Areas of Disability Benefit
2. PARTIALLY DISABLED*, 2. PARTIALLY DISABLED*,
BACK TO WORK IN SAME JOBBACK TO WORK IN SAME JOB (*20% LOSS OF INCOME)(*20% LOSS OF INCOME)
INDIVIDUAL: % OF LOST INCOME x MONTHLY BENEFITINDIVIDUAL: % OF LOST INCOME x MONTHLY BENEFIT
GROUP LTD: % OF LOST INCOME x MONTHLY BENEFITGROUP LTD: % OF LOST INCOME x MONTHLY BENEFIT
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The Areas of Disability BenefitThe Areas of Disability Benefit
3. TOTALLY DISABLED: 3. TOTALLY DISABLED:
(Cannot perform material and substantial duties of (Cannot perform material and substantial duties of YOUR job)YOUR job)
CAN WORK AT A NEW JOB:CAN WORK AT A NEW JOB:
INDIVIDUAL: INDIVIDUAL:
a. 100% OF MONTHLY BENEFIT*a. 100% OF MONTHLY BENEFIT*
b. % OF LOST INCOME x MONTHLY BENEFITb. % OF LOST INCOME x MONTHLY BENEFIT
GROUP LTD: 0GROUP LTD: 0
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Executive Carve OutExecutive Carve Out
Multi –Life DiscountMulti –Life Discount
Spousal DiscountSpousal Discount
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Work Site Marketing PlansWork Site Marketing Plans
Association ProgramsAssociation Programs
GSI/Simplified UnderwritingGSI/Simplified Underwriting
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Simplified UnderwritingSimplified Underwriting
Maximum Benefit Amount: $2,500/monthMaximum Benefit Amount: $2,500/month
Maximum Issue Age: 50Maximum Issue Age: 50
Occupation Classes All; 3A & above preferredOccupation Classes All; 3A & above preferred
Elimination Periods:Elimination Periods:All; 90 days & above preferredAll; 90 days & above preferred
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Simplified UnderwritingSimplified Underwriting
Benefit PeriodsBenefit PeriodsAll (2 years, 5 years, To Age 65)All (2 years, 5 years, To Age 65)Your Occupation PeriodsYour Occupation PeriodsAll (2 years, 5 years, To Age 65)All (2 years, 5 years, To Age 65)Sex Distinct Rates (except in MT)Sex Distinct Rates (except in MT)
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Simplified UnderwritingSimplified Underwriting
Riders AvailableRiders Available
• • Automatic Increase Option/Automatic Benefit Automatic Increase Option/Automatic Benefit Increase*Increase*
• • Catastrophic Disability Benefit (1 to 1 ratio Catastrophic Disability Benefit (1 to 1 ratio maximum CDB/Base + SIS)maximum CDB/Base + SIS)
• • Mental/Nervous Substance Abuse Disorder Mental/Nervous Substance Abuse Disorder Limitation— only in states required**Limitation— only in states required**
• • Residual or Short Term Residual Disability Residual or Short Term Residual Disability BenefitBenefit
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Simplified UnderwritingSimplified Underwriting
Discounts Available• MNSA — 10% - To Age 65 benefit period; 5% - 2 or 5 year benefit period — only in states required• Select Occupation — 10%Payment MethodsElectronic Funds Transfer (EFT) only
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Simplified UnderwritingSimplified Underwriting
General Underwriting RequirementsSimplified DI application packet required. Tele App required.No routine medical requirements (blood, urine, exams, EKG ‘s or APS s) required* * *
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1.800.945.97191.800.945.9719