With group carve-out, individual benefit plans replace or enhance group plans to provide the types of benefits needed to attract, reward, and retain key employees. Your disability insurance needs are covered in different ways depending on the number of employees involved. If you own a small business, Disability Income insurance may be the only available source of income continuation for you and your employees. If you are a self-employed professional, you need to provide your own disability coverage. Providing Disability Income coverage for one to two employees would be covered under individual Disability Income insurance plans.
Coverage is available for different periods of time, and for different levels of income replacement.
Because of the intricacies and technical details of Disability Insurance products, we recommend that you discuss your needs with a Northwestern Mutual Financial Network Representative. That way you can be sure that your exact needs and budget are taken into consideration. Coverage for 3-9 employees Northwestern Mutual offers both Long Term Disability and Short Term Disability coverage for employers who have three to nine eligible employees. With very few exceptions, our Small Group Disability products are available to employers in all types of businesses and industries. STD is designed to replace a specified percentage of a member's predisability earnings on a weekly basis up to a maximum benefit amount stated in the summary.