Group insurance plan are wonderful however since they are made for the masses they do exhibit reverse discrimination against business owners and executives with the Long Term Disability component of the plan .As a business owner and or executive your clerical staff have better coverage then you do . Why ? He are are some of the reasons :
* Definition is prohibitive and most owners / executives would have a difficult time claiming .
* Salary , Dividends and Bonuses are not all recognized as level of income on which the Long Term Disability coverage is calculated .
* Income splitting and retained earnings are not part of the calculation for payout under the group Long Term Disability coverage .
* Long Term Disability of a group plan is not portable .
There are numerous other contractual problems and most business owners and executives are not aware of them . Meed with a qualified insurance professional who specializes in providing his/her clients disability insurance solutions and look carefully at the gaps within the Long Term Disability program within a group plan .
