LTD Plan Design & Strategy
What is your benefit philosophy? Is your philosophy holistic or atomistic? Does your philosophy include employer-paid benefits or voluntary?
- Review Existing Plan – Where are you currently? What are the details of your existing LTD Plan? The Todd Organization will closely examine your existing LTD Plan design and summarize our findings for you.
- Demographic Analysis – What are the risk factors that LTD insurance carriers will examine? Occupation? Gender? Age? The Todd Organization will examine all these factors in order to better understand how the market will view your company in terms of risk.
- Plan Diagnostics – How does your current plan design fit your benefit philosophy? What gaps exist in coverage? The Todd Organization can assist in identifying any gaps in your Group Long Term Disability (LTD) Plan and provide possible solutions.
- RFP and Plan Selection – If deemed necessary, The Todd Organization will distribute a Request for Proposal to carriers in the Individual Disability Insurance market and examine the responses received. We will then review these responses with you, so that you may determine which carrier best fits the benefit philosophy of the company and the plan design desired.
If there are gaps in coverage, how will they be addressed?
Very often, the first step in implementing a new LTD Plan design is restoring your existing plan design. Your first step should be to identify gaps in coverage and then to mitigate these gaps. This ensures when you are communicating the goals of the plan, you can do so with confidence.