Yes. Our Group LTD coverage can be layered on top of any individual disability plan that you may currently have with no offset or coordination of benefits. This is an excellent way to increase your existing income protection.
By having both plans you can maximize your benefit. There is no benefit offset between the two, so you can receive benefits at the same time from both policies.
Yes, however, you will have to provide Evidence of Insurability, which includes medical underwriting and you can potentially be denied additional coverage of the greater amounts of $7,500 or $10,000.
Yes, after this initial open enrollment, you can sign up for the plan at any time, but you will have to fill out an Evidence of Insurability form and could possibly be denied coverage. By signing up during the open enrollment period you are guaranteed coverage with no tests or exams or financial underwriting.
Yes. You can drop your coverage any month, on a month-to-month basis. However, we only have open enrollment this one time, with no medical underwriting. If you want to get on the plan again after dropping off, you will have to submit an Evidence of Insurability form and can possibly be denied coverage based on your medical history.
Yes. If you leave TeamHealth, there is a conversion provision in the plan that converts the plan to a $5,000 group you can take with you.
Yes. As long as you are working full time, you will receive a maximum of 48 months of benefits. If you are over age 65 when you go on disability and are still working full- time, the maximum benefit period is 30 months and tapers down as you get older. If you are 69 or older, you will receive a maximum of 18 months of benefits.
You must complete a 90-day Elimination Period before you can receive Long Term Disability benefits.
Yes. This is referred to as the Return-to-Work incentive. For partially disabled claimants, IDU provides an incentive for their return to work after the elimination period by allowing them to receive a full monthly disability benefit, as long as their benefit, plus their work earnings, does not exceed 100% of their pre-disability earnings. This provision is available for the first 24 months of partial work after the Elimination Period.
No, IDU does not require claimants to be totally disabled to qualify for benefits; benefit qualification can be achieved by either partial or total disability, this is known as Zero-Day Residual.
TeamHealth will automatically deduct the semi-monthly premiums from each paycheck on a post-tax basis.
Premiums are fixed and guaranteed until [date] when the plan will be up for renewal. At that time, rates could remain the same, or there could be a small increase based on claim activity, plan design, and the overall demographics of the group.
No. Because this is a voluntary plan, this is a tax-free benefit.
Sun Life/IDU was selected because it has the most attractive and cost-effective contract in the industry that is specifically tailored for physician groups, taking into consideration physicians’ unique needs and specialties. IDU is considered the leader in the industry for administering physician group plans with the financial backing of Sun Life Financial Insurance Company and its subsidiaries, which are among the highest rated in the U.S. by A.M. Best and Moody’s.
Sun Life provides the carrier for the high limits benefit (Platinum Plan and Lump Sum) is Lloyd’s of London Underwriters.
