The most common type of disability, musculoskeletal and connective tissue disorders, are often limited to two years of benefit payments in employer long-term disability policies.
Mental disorders, the fifth most common type of disability, are also limited to two years of benefit payments in many employer long-term disability policies.
So what does this mean for your clients?
They could be taking on risk and not even know it. Review their employer certificate booklet to determine if their policy contains these limitations; it won’t be listed on their benefit summary. By reviewing their full booklet, you’ll be able to find any coverage exclusions, limitations, and reductions to determine coverage projections.
These hidden limitations can mean the difference between failure and success of an income protection plan.
Two years of benefits is definitely better than none, but your clients can get better than cookie cutter coverage. An individual policy without these limitations can make up for this gap in employer coverage.
Wondering what your clients are eligible for? Let’s talk.