What s the difference between an individual disability income policy and a group policy?
There are two major types of disability insurance available to employees; group long term disability (LTD) insurance, and individual disability insurance. A group long term disability insurance plan typically is designed to replace 60% of base salary to a monthly maximum spelled out in the policy. Bonus income, as well as commission income is often not covered. Rates can change at any time; the policy can be canceled or changed at any time.
