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Employee Paid Disability Insurance

Allow employees to do their own thing at no expense to the employer, with the business adding value through reduced pricing and reduced medical screening.

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Employee Paid Disability Policies Are Portable

Individual Disability Income (IDI) coverage is generally Guaranteed Renewable and often Non-Cancellable to age 65 or older - meaning the insurer cannot cancel or increase the premium until that time, provided the premium is paid - even if the employee leaves the business or the program is terminated.

Billing Options

Choose your billing method: list billing (to the business which informs payroll deduction) or directly to individuals at home for a truly hassle free program.

Participation Minimums Don't Need to be Maintained

Three (3) policies are the theoretical minimum required to start a program, but if you want a program where there are no medical questions, it will be higher.

You can get an exact participation minimum by requesting a proposal, which will account for your objectives and group demographics.

Whatever the minimum, there is no need to worry about ongoing participation because these are individual policies, which are immune future developments within the group. If participation later falls to one (1) person or the group cancels sponsorship of the program, that person can keep his or her policy - including discounted pricing - and will not be adversely affected in any way.

Customized for Each Employee

Employees can custom-configure their own policies, including the Elimination Period, Benefit Period, Benefit Amount and Riders, subject to underwriting constraints.

No Ongoing Earnings Reporting

Once coverage is issued, there is no need to update the carrier with earnings or hours unless you want to facilitate an upgrade. That's because individual policies pay out benefits as a fixed dollar monthly indemnity amount (e.g., $5,000 per month, $10,000 per month) rather than a percentage of earnings.

Enhanced Multi-Life IDI Account Management

To make the lives of HR/benefit staff easier, and the value of coverage more personally relevant to employees, Rip manages supplemental DI programs with enhanced services, including:

Multi-carrier management. As IDI programs mature and new carriers come out with better offerings, it becomes necessary to close "legacy" programs to new entrants and use a new program for future enrollments. But unlike group insurance, existing individual DI policies may not get replaced because individuals hold the legal rights and premiums are locked in based on original entry age. And that means multiple vendors need to be managed in order to make the program as a whole come together. The key value-added element here is that multiple vendors are overseen by a single source, and that makes life easy for benefits administrators and employees.

Tracking individual coverage. Whenever there is a new vendor search or a new round of offers to employees, the carrier will need to know what other individual coverage is already in place. That's valuable information which can persuade a carrier to make offers that otherwise wouldn't be contemplated due to conservative assumptions.

Individual special handling. Some people just want things done a certain way. The most common reason employees need special handling is that they already have an individual policy and they need guidance about whether to replace it.

Personalized, one-on-one enrollment (for employees who prefer it). Since DI is an individually owned and portable policy designed to evolve with a growing career, employees should understand it's full potential and know who to call. This is good for employee appreciation and keeps HR at a distance from HIPAA sensitive information.

Offboarding departing employees with personal guidance. Because individual DI is portable, it is important to manage the transition proactively. Standard carrier communication is not enough because people don't remember what they have, and why, and they need guidance to call out time-sensitive features, such as waiver of premium for unemployment or upgrade options to make up for lost group LTD. In any case, address changes can delay the carrier's standard communications.

Orientations for HR and the executive team, which need to be briefed on the purpose of supplemental DI. Turnover is a given, and any new management personnel will need an initial tour, and maybe a periodic refresher, otherwise they wonder why they have two programs (group LTD is the other).

Familiarity with the group's unique culture, history, information security preferences, and priorities, which makes for a better service experience for HR and participants.

Preventing mismatches between the premium and payroll deduction before it's too late through special monitoring. This one only applies to employee-paid programs for small or mid sized employers that don't bother to process the monthly deduction files sent by the carrier.

Acquiring coverage for key individuals in special situations that require full underwriting.