Employer-paid

Whether you decide to pay for individual disability income insurance for all your employees or for just a select group of key employees, your company will benefit, too.

• Because individual disability income protection is highly valued, it can help attract and retain top performers.
• You can design an “executive carve-out” or “executive bonus plan” program to reward a select group of employees. Both programs offer tax advantages to your company.
• If you have a group long-term disability plan already in place, you can use individual disability coverage to supplement the existing plan. Doing so may provide higher maximum monthly benefits than purchasing either type of coverage alone.
• If you do not have group long-term disability insurance in place, you can provide individual disability coverage as a rich, stand-alone benefit.
• Your company can use the cost of the premiums as a tax deduction. And, because the product is highly flexible, you can structure a program to achieve a specific business objective.
• If you make individual disability income insurance available to all your employees, you’ve immediately solved the problem of whether to continue to pay a disabled employee while paying a replacement at the same time.
• Since individual coverage is portable, the employee owns the policy even if he or she leaves the company. That feature helps boost employee appreciation and enhances the perception of your company as “people-centric.”

Your company may qualify for Guaranteed Standard Issue underwriting depending on the number of employees you want to cover and the business objectives you’d like to achieve.

This information is provided as a courtesy by Berkshire Life Insurance Company of America and does not modify the provisions of any policy. It is offered for the purpose of education and information only and is not intended to constitute tax or legal advice. For information on your specific situation, please consult your personal legal or tax advisor.