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Request for Quotes
ABC with XYZ Acquisition
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Executive Long Term Disability (Plan 3) – Employer Paid
A regular executive working 30+ hours per week.
66 2/3% of the first $37,500 of pre-disability earnings reduced by deductible income (work earnings,
workers’ comp., etc.) to a max benefit of $25,000
180 Day elimination period
Benefits payable to SSNRA (see contract for greater detail)
Voluntary Long Term Disability – Employee Paid
There are 2 plans from which the employee may choose to enroll.
•
Option 1: 60% of the first $25,000 of pre-disability earnings, reduced by deductible income,
not to exceed $15,000 max monthly benefit
•
Option 2: 50% of the first $30,000 of pre-disability earnings, reduced by deductible income,
not to exceed $15,000 max monthly benefit
For either option, 180 day elimination period.
Benefits payable to SSNRA.
2 Year own occ period.
90 Day Pre-X limit
NO prudent person language.
ABC, Rates – The Standard:
The rates reflected below were initially guaranteed for 3 years; at the end of the
guarantee period, renewal rates were negotiated to be held flat for an additional 3 years – thru 12/31/2017 – this
differs from the 2015 renewal packet included in the submission – it reflects original renewal request, but includes
experience analysis.
With the increase to the max
benefit for Basic Life, effective
1/1/2016, the basic life rate
increased to $0.065. Rate Guarantee
expires 12/31/2016