EMPLOYEE BENEFITS &
INSURANCE SPECIALISTS/BROKERS
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JT WORTHY CONSULTANTS
|An employer can offer an affordable Group “Voluntary” Long Term Disability plan, designed specifically to meet your employees’ needs for a small salary deduction cost. There are “voluntary” buy-up options to supplement the 50% to 60% income from the Employer Paid Group Long Term Disability benefits. An employee can generally purchase an additional 6% to 10% of group LTD insurance at an affordable rate.
In addition, J.T. Worthy Consultants can supply individual LTD policies (LINK) to further reduce shortages of salary replacement income benefits. It is not uncommon to see Group LTD plans place maximum monthly benefit caps which will affect your company’s most valuable, highly paid employees. These caps can limit an executive’s monthly income benefit to 20% to 30%. Multiple Individual LTD plans can be offered in addition to group LTD plans in order to increase the overall percentage of replacement income. Generally, individual policies purchased through an employer sponsored program can offer Guarantee to Issue policies with as much as 25% to 35% in discounts.
There are currently about 100 million workers without private disability income insurance. For the others who have Long Term Disability (LTD) benefits, the majority would not be able to maintain a similar lifestyle if they became disabled.
Often a disabled employee will receive a 50% to 60% replacement income. Most would like to protect their income entirely, from between 75% to 100%. This can be achieved with LTD products.
*A Workers’ earning power is perceived as there most valuable asset.
*71% of Americans would find it difficult to meet their current financial obligations if
their next few paychecks were lost.
*Almost one-third of Americans entering the work force today will become disabled before they retire.
Did You Know?
Long Term Disability
Providing Solutions
- LONG TERM DISABILITY
INDIVIDUAL
Life Insurance
Long Term Disability
State Planning
Buy/Sell Plans
Executive Bonus
Split Dollar
COLI
Non-Qualified RET
Salary Continuation
