Supplemental individual disability income insurance to employees may be offered to employees through their employer. Within the parameters of the guaranteed standard issue offer* there is no medical underwriting. This coverage helps protect a higher amount of income than group long term disability plans.
Many group long-term disability plans protect about 60% of base salary; they do not cover bonus and incentive income; and they provide a benefit that is taxable.* As a result, employees may be hard-pressed to meet their expenses if they become too sick or injured to work.
Benefit managers may wish to consider offering individual disability income (DI) insurance to help reduce the gap between pre- and post-disability income.
Features Available Only through the Worksite
Employees often look first to their employer for benefit options. You can help provide disability income protection through individual DI insurance with features available exclusively through the worksite.
- Simplified underwriting. No medical exam is required.
- Premium discount off MassMutual’s unisex rates.
Portable Coverage
Employees can take the coverage with them if they leave your company and still retain the premium discount.
Cost-Neutral Solutions
There is no cost to your company to offer coverage to your employees. It is offered on a voluntary basis; employees pay the premium.
Companies may choose to provide employer-paid coverage to select employees as part of their executive benefits package.
Full Implementation Support
MassMutual’s implementation expertise removes the administrative burden from human resource departments and benefit managers. All we need from you is your support and we’ll take care of the rest:
- Dedicated team of specialists for every case
- Comprehensive and customized communication choices
- Robust online and paper application options.
- Group and one-on-one employee assistance
- Daily activity tracking and case reporting
What are Other Companies Offering for Disability Benefits?
Together with The American College, MassMutual commissioned a disability benefits study conducted by Boston Research Group in 2010. The study focused on plan design, eligibility, gaps and shortfalls – particularly for executives.
Let individual disability income insurance increase your benefit offerings, not your to-do list.
Prefer to speak to someone about guaranteed standard issue disability income insurance?
TALK TO A FINANCIAL PROFESSIONAL
*Source: The American College and MassMutual’s “Employer Perspectives on Disability Benefits.” 2010
The information provided is not written or intended as specific tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. MassMutual, its employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.
This policy has exclusions and limitations. For costs and complete details of coverage call your agent or MassMutual at 1-800-272-2216 for a referral to an agent.
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