For your clients who own small to medium-sized businesses, finding and keeping talented employees can be challenging.
Sometimes, offering a well-rounded benefit package is all it takes to seal the deal.
Multi-Life Disability Insurance and Critical Illness Insurance are excellent products for small business owners. Multi-life offers the same income protection as individual disability insurance but it’s available at discounted rates and with simplified underwriting for groups. There are many different types of multi-life disability insurance solutions including:
GSI is an insurance product for groups of two or more people and does not require underwriting.
GSI is an excellent supplement to Long-Term Disability (LTD) Insurance.
Find out more about GSI.
GME is a GSI program tailored specifically to the needs of graduating medical students and residents.
GME also does not require medical or financial underwriting.
Learn more about GME.
Association Endorsement disability insurance policies are less common than they used to be. However, they can provide discounted premiums and simplified underwriting for associations such as California Teachers Association, the American Dental Association, etc.
Income Replacement Individual Disability Insurance replaces a portion of the income if someone becomes unable to work. This coverage will help clients and their employees minimize disruptions to daily life during a tough period and keep long-term financial goals on track. Income Replacement insurance can also be used by the business owner.
This type of income protection can protect your retirement plan contributions in the event of a disability. For example, if a client is currently contributing $500/month into a retirement plan and suddenly becomes unable to because of disability, this type of insurance will continue making the contributions.