MultiLife Individual Disability Insurance   

 

Individual disability income insurance provides the highest quality disability income protection available to your employees. When issued through a MultiLife Discount Program, it’s also a reasonably priced alternative to Group disability income insurance, or a logical supplement to any Group plan.

Northwestern Mutual’s Disability Income (DI) MultiLife Discount Program

  • Is not a group program. Individual disability income policies are issued.
  • Provides a 15% discount of sex-neutral premiums for businesses with a minimum of four policyowners.
  • Increases “employee benefit” options for employers, with advantages for both employers and employees.

Employee Advantages

  • Personalized Coverage
    With the help of their Financial Representative, employees design disability income coverage based on their unique needs.

  • Limited Exclusion Riders
    Used with MultiLife policies for medical impairments. As a result, some coverage is offered for certain medical conditions that would otherwise be completely excluded.

  • Portability
    If an employee should leave your employment, he or she can keep the coverage. The discount is applied to the policy as long as the employer MultiLife program continues.

Employer Advantages

  • Goodwill
    Your employees will see the value of high-quality individual disability income insurance, and appreciate that you understand this as critical to their financial future.

  • Ease of Payment
    Premiums may be paid by you as the employer, by your employee, or in part by each. Employees may choose to pay premiums directly, or premiums may be paid by payroll deduction.

Advantages for Both

  • Lower Premiums
    This is a distinct advantage over individual disability income policies purchased outside a MultiLife Discount Program.

  • Tax Advantages
    Under a formal Wage Continuation Plan, premiums are excluded from the employee’s income, and as the employer, you may deduct the premium (IRC S162(a)). Alternatively, when the employee pays the entire premium directly, disability benefits are received tax-free.

Whether you purchase full individual disability income coverage for employees, supplement a group plan with individual disability income coverage, or simply encourage your employees to purchase supplemental coverage for themselves, a DI MultiLife program can help the critical coverage fit into everyone’s budget.

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The Multilife discount is not guaranteed. Northwestern Mutual reserves the right to modify or remove this discount.

The policies described here refer to policy forms RR.NCDI.(0101), RR.NCDI.(0909).CA, RR.GRDI.(0101), RR.GRDI.(0909).CA, RR.INT.(0101), RR.INT.(0909).CA, RR.NCDI.ML.(0101), and RR.GRDI.ML.(0101), which may not be available in all states. This information is intended to explain provisions contained in the policy; it is not the insurance contract, only the actual provisions will control.  Precise contract language may vary from state to state. For costs and complete details of coverage, contact a Northwestern Mutual Financial Network representative.

Exclusions and limitations include pre-existing conditions. There will be no benefits for a disability or loss that results from an accident that occurred within two years before the Date of Issue; or results from a sickness that existed within two years before the Date of Issue; or if the accident or sickness was not disclosed or was misrepresented in the application.

A sickness is considered to have existed if symptoms were present that would have caused a prudent person to seek diagnosis, care or treatment; or if medical advice or treatment was recommended or received from a health care practitioner.

There will be no benefits for a disability or loss that is caused or contributed to by an act or incident of war, declared or undeclared, the suspension, revocation or surrender of a professional or occupational license or certificate or the commission of or attempt to commit a felony. There will be no benefits for a disability or loss for any period the Insured is incarcerated or is excluded from coverage by an Agreement of Limitation of Coverage.

Benefits will not be provided for more than 24 monthly benefit periods in total for the life of the policy for all disabilities or losses primarily due to any mental disorder, or substance abuse or dependency. This limitation will not apply if, at the end of 24 months of benefits, the Insured is confined in a hospital and is continuously confined thereafter.

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