Working Past Age 65
38% of workers anticipate working past age 65. As a financial plan, that's only as dependable as disability insurance permits.
Source: Employee Benefit Research Institute (EBRI) and Greenwald & Associates; 2017 Retirement Confidence Survey
Compensate for LTD's age-based reductions in Benefit Periods - most relevant to those over age 65.
For groups with at least ten (10) members.
For individuals who are healthy and financially stable.
How Group LTD Imposes Age Based Reductions
Most Group LTD programs reduce the benefit period on a sliding scale, eventually shrinking to 1 year by age 70.
This is a representative example. Some LTD policies may differ.
Solution
Supplement LTD with Individual Disability Insurance (IDI)
An IDI Supplement can provide a separate source of benefits which should not offset if properly designed, increasing the maximum claim potential and mitigating the age discrimination.
