Summer Case of the Quarter - LTD + GSI

This health technology company’s LTD plan provided disability insurance for their employees — high earners and all. Their broker suggested a redesign of their disability insurance plan. By including GSI, the company could increase coverage for their high earners.

The original LTD plan covered 60% of earnings to a maximum benefit of $6,500. This maximum benefit meant that many of their high earners wouldn’t receive 60% income replacement if they became too sick or injured to work.

To better cover the executive team, the LTD maximum benefit increased to $15,000. Then GSI was added to replace 66.67% of income and $10,000 more in potential benefits. The overall disability insurance plan now provides a maximum benefit of $25,000.

By looking at LTD and GSI together as part of a holistic disability plan, this company can rest assured their disability insurance plan won’t leave their executives underinsured.

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