What is it?
Individual disability income insurance provides a greater amount of disability income protection to supplement employer-provided group disability benefits.
How is it used?
For businesses, disability income insurance can be used to provide a more meaningful benefit to employees. It can also be used to keep the business up and running in the event of an owner’s disability, or to provide multiple owners with a buy-out option in the event of a disability.
What are the benefits?
Offering supplemental disability income insurance to employees is often a great way to recruit, retain and reward employees. For business organizations, a disability income insurance policy can help with the organization's financial obligations.
How can disability income insurance help meet your business needs?
For Business Owners
- Business Overhead Expense (BOE)
Provides funds to reimburse owners for regular overhead expenses.
- Buy-Sell
Provides funds for the purchase of insured’s share of ownership.
- Individual Disability Income Protection
Provides benefits to owners to help replace a portion of their income.
- Qualified Sick Pay Plan
Establishes a plan to address employee disabilities.
For Employers / Benefit Managers
- Executive Carve-Out
Offered to executives as an employer-sponsored benefit.
- Individual Fully Underwritten
Supplements employer-provided disability income group benefits.
- RetireGuard
Can help protect an employee’s ability to save for retirement.
- Worksite Disability Income Insurance
Offered to employees on a voluntary basis, or as a company-paid benefit.
Prefer to speak to someone about disability income insurance?
Disability income insurance policies have 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.
