Executive disability policies act as an additional layer of coverage over the existing group long term disability coverage. However, these policies are not simply additional group coverage; they are actual individual disability insurance contracts.
Executive long-term care insurance is a type of business insurance coverage that is used by employers to reward specific executives. Under this plan, the employer will buy a long-term care insurance policy for each member in the executive group. Since executives are often key to the success of a business, some employers often use this type of coverage to attract and retain the talent they are looking for.
Additional life Protection for Key Executives Executives typically have higher incomes and often need larger death benefit protection than what is offered by typical employer-sponsored group benefit programs. By offering your key employees additional life insurance benefits, you can make available an increased level of protection that better suits their needs. In doing so, your organization can set itself apart when it comes to recruiting and retaining top talent.