Most business owners provide group disability to their employees. Many are surprised to learn that bonuses and/or commissions are often not included in this group benefit. In addition, due to limits in the group disability market, a plan that theoretically provides a 60% benefit does not actually cover 60% for key employees or executives earning more than $200,000.

Even if your group plan includes bonuses and/or commissions and the plan theoretically provides 60% of income compensation, traditional disability insurance plans have a maximum monthly benefit of $10,000; thus, any executive earning more than $200,000 annually is receiving less than a 60% benefit.

Most group plans were designed to provide basic benefits for the average employee at the lowest possible cost. Supplemental plans can be designed to meet higher income standards. At M Barrington, we implemented a strategy that utilizes a combination of products to help increase the maximum benefit to cover these key executives while keeping its basic group plan in place; an economical solution to a very common, yet often overlooked, problem facing businesses today.

In addition, we have access to supplemental plans that allow an insured to convert to Long Term Care at age 65.