Solving the Protection Gap for Consulting Firms
There are consultants in many fields, relied upon for their ability to improve the businesses they serve. As a firm owner or HR professional of this firm, protecting these professionals is a top priority.
As you likely know, there is a certain point where a traditional, basic disability policy will fail to meet the income replacement needs of a professional of this caliber. Simply put, the gap between what your company leaders earn and what percentage of income would be replaced in the case of disability is too great. TWG has innovative products to address this exact issue, comprehensively replacing all components of income.
A closer look at traditional disability
Generally, if an executive or partner at a consulting firm becomes disabled, her employee benefits plan covers only a portion of her base salary (usually 60%). It also may not take into consideration uncovered base salary her incentive compensation, including bonus, options, or restricted stock units.
Basic disability policies do not provide enough protection for highly compensated consultants, executives, or partners. And they often do not consider the complex, incentive-based earnings that are common for this group.
TWG’s signature solution for consulting firms
No insurance company has ever covered the entire spectrum of income, including stock options and restricted stock units — until now. Through TWG’s Executive Income Assurance Plan, we can provide high-limit disability insurance solutions that protect not just base salary but also bonus, stock options, and restricted stock units. And the cherry on top -programs are delivered on a guaranteed-issue basis with no medical underwriting. We can also provide this coverage in multiple currencies for your worldwide workforce.