MetLife Offering New Disability Insurance Solution for Small Businesses

MetLife has announced a new and enhanced disability insurance product for smaller employers that provides increased plan flexibility and employee benefit options.

The new contract provides employers with fewer than 500 employees the enriched features and options that many larger employers currently utilize in their disability and absence management programs including return-to-work/stay-at-work strategies for their employees.

“Small businesses are looking for cost-effective benefits solutions that are easy to implement and administer while effectively meeting their employees’ needs. The new MetLife disability insurance contract effectively addresses these requirements by maximizing plan flexibility, providing value-rich employee benefits and promoting return-to-work/stay-at-work initiatives,” said James Jacobsen, vice president, MetLife Disability.

The features in the new disability contract include:

Customized plan designs with an employer’s unique needs and goals in mind. For example:

* An employer has the option of combining or separating limited benefit durations for a number of absence conditions to accommodate a variety of objectives.
* An employer can combine term life insurance and disability insurance within the same certificate provided by MetLife. This can make it easier for employees to understand – and appreciate – their benefits coverage.

Employee-focused benefits that provide enhanced protection and security in the event of a loss of income, including:

* An optional Terminal Illness Benefit for long term disability that provides 100% of pre-disability earnings to the employee, for up to 12 consecutive months, if disabled and diagnosed as terminally ill. If the Terminal Illness Benefit is selected for the plan, claimants will have the option to accelerate survivorship benefits under the long term disability contract if disabled and diagnosed as terminally ill.
* An Organ Donor Benefit for short term disability that provides an increased benefit when the disability absence is the result of donating an organ.

Return-to-Work/Stay-at-Work enhancements so obstacles to returning to work are minimized. Plan features provide:

* A Moving Expense Incentive that reimburses employees for moving expenses to a new residence if recommended as part of the rehabilitation program approved by MetLife.
* Increased reimbursements for Family Care Expenses – helping to support an active return-to-work program.

For more information, visit www.metlife.com.