Page 15 - MI New Hire webinar
P. 15
Excess Disability
1 of every 21 people will have a disabling accident
• Coverage provided by Lloyd’s of London
• Eligibility:
– Available to all Agents with Group LTD, age 60 and younger
– Prior year gross 1099 earnings of at least $150,000
• Own Occupation definition of disability
• Tax-free lump sum benefit options:
– $150k, $250k, $500k, $750k, $1M
• Benefit payable after 1 year total disability
• Coverage in addition to existing DI coverage
• Does not offset with existing DI coverage
• Guaranteed Issue (no medical exams)* when first eligible
