Multi-Life Disability

Multi-Life Disability Insurance

Certain high-income employees can be underinsured under a standard group LTD policy due to their high income. Multi-Life Disability coverage is a great solution for companies that want to provide additional coverage for a select group of employees, such as executives.

Why Your Client Should Care

High income employees and executives are adversely selected against with traditional group Long Term Disability Insurance plans. While LTD coverage typically protects 60-65 percent of their income, they are limited by the maximum monthly benefit amount which typically does not exceed $20,000 per month. Multi-Life Disability coverage provides the high income earners an additional amount of DI protection.

How Orion Can Make You The Hero

Orion can help you deliver Multi-Life policies with valuable benefits for high-income earners. These policies offer a very simple way of ensuring that high-income earners have the level of disability protection that they need. The added benefit for the company is that they can keep their LTD costs down by tailoring coverage to fit the majority of employees. Multi-Life plans also offer additional advantages including discounts, portability and minimal or no medical underwriting.

Shaping Perceptions

Ask your client the following:

  • If you are looking to create incentives for your executives or partners, what kind of benefit or incentive can you create with $150 – $400 a month?
  • Do you understand that a typical group disability policy will have a taxable benefit?
  • Do you realize that while group LTD plans typically provide 65% income protection the monthly maximum means that your high income earners are really only receiving 35% or less of their income protected?