Multi-Life Disability Insurance in Cedar Rapids, IA
We provide insurance services to Iowa City, Dubuque, Des Moines, & Davenport, IA
If you are a highly compensated employee and become sick or injured and cannot work, you need protection to maintain your standard of living. An employer-sponsored multi-life plan (ESMP) is an individual disability insurance plan that supplements a long-term group disability (LTD) plan.
Employers can offer this attractive disability income program to their highly compensated employees at discounted premium rates. ESMPs provide great flexibility:
Why Is Disability Insurance Important?
An injury or illness can prevent an employee from working for at least a month. The risk of an injury or illness interrupting an employee’s ability to work for three months or longer is as high as 25 percent for today’s 20-somethings. Being out of work for several months is a long time to go without income, which is why disability insurance is so important.
How Is Multi-life Disability Insurance Advantageous to an Employer?
Multi-life disability plans benefit both the employer and employee. The employer wins by providing an exclusive benefit to key associates at potentially no cost. Key employees, in turn, win by obtaining a more appropriate level of disability income coverage based on their income and current group LTD plan.
Employers have many financial obligations, from employees and vendors to business expenses such as rent and utilities. A work-limiting disability can impact their personal and business finances. A multi-life insurance program provides substantial cost savings because multi-life groups gain discounted premiums.
Contact Us Today!
Multi-life disability insurance is a win-win offering. Businesses gain cost savings with a multi-life group, and key employees gain greater disability income coverage. We can help you put together a disability insurance program that is right for your business needs. Call Brokerage Solutions, Inc. today at 319-393-9410 to get started.