Summer 2018 GSI Case of the Quarter

This 1500-employee company had an LTD plan that covered 60 percent of salary up to $10,000 monthly. The employee benefits broker identified two pain points in the plan:

The $10,000 monthly cap put high earners at risk. More than 40 employees with a salary of above $200,000 would not receive 60 percent income replacement if they made a claim.

No bonus income coverage. This lowered the actual income replacement to less than 60 percent for many other employees.

Any plan that leaves more than 10 employees less insured than their colleagues is insufficient. The company needed a solution that would immediately restore the high earners’ protection to the target of 60 percent income replacement.

The broker provided options using the customizable Platinum Advantage to ensure quality income protection coverage for all employees at a flexible price point. In the process, the broker also expanded the company’s existing LTD to cover all compensation — including bonuses!

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