Delivering enhanced benefits, including disability income insurance, to the executives and senior professionals in your company could help to keep you competitive in the market.
An executive benefit plan can be developed to satisfy the disability income insurance protection needs of your executives. Typically, most group long-term disability benefits may only cover a fraction of a high-income earning executive's net monthly income. You can obtain a policy to supplement the long-term disability group coverage your company may be currently providing. And executives have the flexibility to purchase a policy to fit their needs and more closely align with their overall income.
Supplemental individual disability income insurance issued on a guaranteed standard issue basis provides executives important disability income insurance coverage with simplified underwriting. Disability income insurance can be offered to executives on a voluntary basis or as a company-paid benefit.
Disability income insurance can be implemented with little or no cost to employers. As a voluntary benefit, it provides executives with non-cancelable, portable coverage at a reduced premium. Generally speaking, a company may enjoy tax benefits if it provides coverage as an employer-paid benefit.1
Prefer to speak to someone about offering your executives disability income insurance?
1The 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.