This is a superior program of Disability Income benefits, designed to attract and retain quality personnel.
In working with companies we have discovered that Executives often have peculiar problems in obtaining appropriate levels of disability coverage through regular employee benefit plans.
Government and group based insurance plans are effective and inexpensive methods of providing benefits. However, these plans often have severe limitations with respect to quality, control and amounts available. As a result, although most employees under such plans would be fairly well treated, Executives and higher income earners often suffer from "Reverse Discrimination" in this area.
For instance, since monthly group Long Term Disability (LTD) benefits are capped at arbitrary level, Executives disability income benefits are pegged below their standard of living.
Most group LTD plans do not have partial disability benefits and as a result, an Executive is torn between giving up his/her corporate future for a marginal disability benefit that does not allow a part time return to work or maintenance of a presence at the company.
EDIP, an equalization disability income plan, has been designed to resolve these inequities. It is a comprehensive disability income protection program that can be custom designed to meet the needs of each key management personnel.