Life & Disability Insurance
LIFE INSURANCE
Each full-time team member will receive a life insurance policy of $50,000. This group life insurance plan is maintained by the firm for the benefit of the team members. Under the terms of the policy, coverage is available to new team members on the first of the month after 30 days of employment. Under its terms, the firm pays the entire cost. The life insurance policy for full-time team members age 65 to 69 drops to 65% of the benefit, or $32,500.
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SHORT-TERM DISABILITY
Short Term Disability is available to both full- and part-time team members. After one year of employment, the firm will pay 60% of the basic weekly wages if a team member is unable to perform the regular duties of his/her occupation due to illness or injury eligible for a Medical Disability Leave of Absence. Basic weekly wage does not include overtime or bonuses.
For team members earning commission, the firm will pay 60% of your standard renewal commission and 100% of your new business commission percentage. Benefits will be paid for a maximum of one 8 week period of disability during any one year period. The one year period would start from the first day of the granted medical leave. The waiting period to be satisfied before any benefits begin is 8 business days (64 hours for a full-time team member and 32 hours for a part-time team member).
This benefit does not apply to period of mental or emotional disability.
A team member must use any PTO to satisfy the 8 day wait period. A team member may use any unused PTO during the period of the Leave.
LONG-TERM DISABILITY
We also provide long-term disability insurance of 60% of your monthly salary with a max of $10k per month.
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Benefit limitations may apply for preexisting conditions. Talk to your Lacher healthcare advocate for information.