Solutions
CEDi™
Corporate Excess Disability insurance (CEDi™) is a multi-life disability insurance program providing highly compensated employees the ability to obtain coverage on a corporate paid and/or voluntary and guaranteed issue type basis.
Overview
Voluntary Program
- No firm expenditure
- No interruption or change to existing plans
Details
- Participants have several benefit level options from which to choose from
- Lock-in Feature: Special Opportunity to add coverage in the future, as compensation increases, on a GI basis.
- Own Occupation definition of disability.
- No financial justification required, at initial issuance or renewal, other than compensation verification from the employer.
- Contract Period: Coverage provided for a 5-year Policy Term (The Lloyd’s Market) or a 10-year Policy Term (Munich Re).
- Worldwide Availability
- No Participation Requirement (based on demographics)
- Guarantee Issue Type (GI) Basis (based on demographics). Number of eligible participants will dictate the maximum amount of GI.
CEDi™ – MB (MONTHLY BENEFIT)
- Coverage: Issued using a 60-75% compensation replacement factor, minus all other disability insurance benefits.
- Benefit Amount: Up to $100,000+ of monthly benefit may be issued on a GI basis (based on demographics).
CEDi™ – LS (LUMP SUM)
- Benefit Amount: Up to $10,000,000 single lump sum – GI (some restrictions apply)
- Permanent & Total Disability definition
CEDi™ – COMBO (MB + LS)
- Combination of both plans noted above
CEDi™ GOES ABOVE AND BEYOND OTHER DISABILITY OFFERINGS
CEDi™ is added on top of the existing disability plans (IDI and LTD) to provide a 60-75% compensation replacement factor, minus all other disability insurance benefits.
CEDi™ – MB PLAN EXAMPLE
Corporate Excess Disability Insurance (CEDi™)
Guarantee Issue:
Up to $100,000+
Individual Disability Insurance (IDI)
Total Benefit:
$2,500 – $20,000
Group Long Term Disability Insurance (LTD)
Total Benefit:
60% of Monthly Salary to a Max Monthly Benefit of $5,000 – $35,000
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