Case of the Quarter: National Retailer Adds GSI IDI to LTD Coverage

The case for this quarter focuses on a national homeopathic products retailer that added an executive plan for its company’s senior directors and higher-level executives.

This retailer already had a group LTD plan. However, it left substantial income protection gaps for the company’s highly compensated employees. By adding Guaranteed Standard Issue Individual Disability Insurance, the company increased financial protection for its executive employees. And their employer-paid Platinum Advantage GSI plan covers salaries, as well as bonus income.

The retailer also enhanced employees’ coverage by adding riders to their plan. These riders included a Noncancelable Policy Rider, Catastrophic Disability Benefit Rider and Basic Residual Disability Benefit Rider. With the number of employees covered, this employer client was able to take advantage of convenient, online enrollment.

The strength of this new plan allows the client to provide a key layer of protection for its HCEs and helps safeguard their financial futures. This key benefit also helps the employer retain and attract leadership talent.

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