Long Term Disability Insurance Quote Costs Are Controllable
Premiums and Benefits Received Depend on Contract Language
This page will be an advanced-level discussion of LTD contract language.
If you’re looking for basic plan provisions to limit benefit payouts, click here.
If you’re looking for intermediate plan strategies to direct benefit away from abusive use or to more strategically design your LTD plan to meet your company needs, click here.
You can also find information on other limitations on payouts — definition of earnings, self-reported illnesses, and pre-existing conditions, by clicking this link.
This page is currently in development, based on the in-depth items Jim Edholm presented in his article in Employment Relations Today that will appear in January, 2008.
The article evaluated contractual language used by Long Term Disability carriers and the outsized impact on payout that simply changing ONE word can have.
If you have a wide range of compensation models in your company — bonuses, commission sales, etc. — you may be paying more for your LTD policy than you ought to.
Worse yet, your most important people may be short-changed in the disability benefit they receive… once you discover it after-the-fact, it can’t be changed.
You could be well-served by evaluating your disability plan — TODAY — to see if your broker may have placed you in a product that just simply doesn’t meet your needs.