RMA has developed a comprehensive income replacement solution which provides coverage in the event of accident or illness. The solution is fully customizable and monthly benefits are payable until age 65, with an option to offer a lump sum benefit in the event of a permanent total disability (PTD). The PTD lump sum is meant to replace the stream of monthly disability benefits payable up to age 65.
Benefits may be offered based on an Own Occupation Disability Definition until age 65. The solution is ideal for the following situations:
- Offer coverage in excess of the primary carrier disability plan maximum, up to $50,000 per month.
- Minimize the impact of a large claim by insuring amounts above a specified threshold with a specialized carrier.
- Minimize the uncertainty and risks related to Disabled Life Reserves and Settlements by establishing a PTD Lump-sum benefit in advance.
As with all our A&H Products, our solutions are designed to cover special risks such as:
- Occupations and industries classified as high risk or high profile
- Individuals engaging in hazardous activities
- High Limit coverage amounts in excess of base policy maximums
- Mobile Workforce
- War and Terrorism risk
For more information, please contact us.