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Comprehensive Disability Plans |
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3. |
Are you aware that corporate sponsored group long term disability plans typically:
- Penalize and discriminate against highly compensated executives (earning over $100,000)?
- Exclude bonuses, commissions, non-qualified plan contributions, and stock options, and S-Corp or LLC distributions, which could represent 50%-80% of total compensation?
- Limit "own occupation" protection to 5 years or less?
- Restrict portability of benefits (i.e. benefits are not transferable in executive leaves the company)?
- Increase premium rates every 1-2 years at contract renewal?
- Offsets benefits, dollar for dollar, if Social Security, SDI and Workers Compensation are available?
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