The HL Group

Protecting What's Most Important In Life.

Wherever life takes you in today’s rapidly expanding world, the HL Group will be there to help you manage your risks with confidence– keeping both your personal and organization safe, compliant and protected. A national leading provider of protection solutions, we have local market expertise and on-the-ground resources that span an expansive network. Our investment in people, processes and technology means customers today benefit from our expertise and service – delivered seamlessly throughout the nation like never before.

Portfolio solutions for your every need.

Individual Disability

An individual disability policy pays a percentage of the insured’s needs based on policy guidelines if they are sick or hurt and unable to work. Individual disability plans (IDI) can be customized based on the client’s needs.

Amount the policy will pay (not in excess of 60% of the insured’s pre-tax income).
Waiting period (elimination period) How long the insured will need to be disabled prior to receiving payment.
Benefit period (how long the insured will receive payments if they are continuously disabled).
Definition of Disability (How the insurer defines the insured’s inability to work such as own-occupation, modified own occupation of any occupation).
Renewal provisions of the policy (non-cancellable or guaranteed renewable)
Riders (additional features such as cost of living adjustment, residual disability payments or future purchase options)

How much does Long-term Disability Insurance cost?

Average long-term disability insurance rates cost between 1-3% of your annual salary, but the exact cost will depend on a number of factors about the applicant and the policy chosen.

Applicant factors:

Age – The older you are, the more expensive your policy.
Gender – Women make more disability claims and therefore pay more for policies.
Smoking history – Smokers or recent smokers will have more expensive policies.
State of residence – Residents of states with a higher number of disability claims will pay more for policies.
Occupation class – Depending on elements of your job (including manual duties, travel, and more) you may be classified as having a “riskier” occupation and pay more for your policy

Policy factors:

Coverage amount – Higher coverage amounts result in higher premiums.
Benefit period – Longer benefit periods result in higher premiums. The most cost-effective benefit period is five years, but full coverage extends to age 65.
Waiting period – Longer waiting periods result in lower premiums. The most cost-effective waiting period is 90 days.
Built-in policy features – Some features like own occupation coverage may come standard in policies from some carriers and may affect the cost of the policy.
Riders – Additional feature that don’t come standard may raise the cost of the policy.