According to a press release, the solution gives
employees two choices for long-term disability coverage, a basic and enhanced
version. Brokers work with the employer to create two different long-term
disability benefit designs that generate affordable options for employees.
Because both policies are group voluntary coverage,
employees receive a lower group rate and the convenience of paying for their
benefits through payroll deduction, the Principal said.
The Principal also provides several choices for voluntary benefit education and enrollment including online enrollment.
“We recognize employers and employees want choice in
cost and level of income protection, especially in this economy. This new
program gives choice without sacrificing meaningful protection,” said Amy
Friedrich, vice president of the Specialty Benefits Division of The Principal,
in the press release. “The option allows brokers to work with their
employer clients on a customized voluntary strategy that best fits the needs of
their employees.”