Life and Disability Insurance

Group Term Life Insurance

Group term life insurance policies are inexpensive employee benefits that provide an important payment in time of need. Gordon Analytic can create programs to pay death benefits based on:

The amount of an employees salary

Specific minimum amount (e.g. $ 10,000 for all employees)
Employee class (i.e. owners, vice-presidents, managers, supervisors, all others)

Gordon Analytic has over 20 life insurance carriers in the database for bids. We can negotiate rate guarantees for up to three years. Consequently, the client does not have to worry about being "low-balled" for one year.

Key Employee Life Insurance and Disability Income Plans

This life insurance policy is designed to compensate the employer for the loss of an employee whose work is critical to the company. The insurance on the key employee's life is owned by the employer, with the death benefit payable to the employer. Under current law, employers can provide disability income plans on a discriminatory basis-that is, special plans can be provided for selective executives or key people at the company.

Short-term Disability

Worker's compensation will pay for accidents that occur on the premises, but what happens if an employee suffers a heart attack, contracts a form of cancer, or falls off a ladder and shatters a hip?

Gordon Analytic will devise short-term disability plans that take into consideration the following issues:

1. Integrate the number of vacation/sick days with the disability coverage
2. Design a plan that meets the company's budget and provides sufficient coverage for the employees
3. Advise whether the client should self-insure short-term disability claims and have insurance for long-term disabilities.

Long-term Disability

Sometimes referred to as catastrophic insurance, a long-term disability income plan will pay each employee roughly 60% of his/her income up to age 65. For those employees who are currently age 65 and older, they would receive a maximum amount of 2 years of payment.

Two important features in a long-term disability income contract are; partial disability and work incentive benefits. Partial disability allows an employee to be paid a partial benefit by the insurance company while he/she works part-time at the company. The work incentive benefit enables an employee to earn up to 100% of his her pre-disability earnings from the combination of working part-time and partial disability income payments.

Life and Disability Carriers