Recent Articles

Group Life Insurance

A tutorial highlighting the types of group life Insurance, rate determination, and insurance provisions applicable to each. Includes basic life, optional life, dependent life, paid-up life and retiree life.

Long Term Disability Insurance

A tutorial covering long term disability benefits including provisions such as qualifying period, definition of disability, recurrent disability, offsets, maximums, subrogation, COLA, conversion and taxability.

Underwriting: Prospectively Rated

Prospective rating is similar to fully pooled in all aspects except premium renewal rating. The key difference lies in that prospectively rated groups have a either a portion or all of their claims experience used in determining premium rates. Renewal rates are determined by reviewing historical claims experience and then applying the rate adjustment prospectively or to future policy periods.

How To Calculate Monthly Long Term Disability Premium

Long Term Disability (LTD) is expressed per $100 of benefit volume.  To calculate monthly LTD premium you take the benefit volume multiplied by the rate per $100 of coverage.  For example, if you have monthly salary of $5,000, a 66.7% LTD benefit schedule, and a rate of $1.50 per $100, the calculation is as follows: […]

Group Health Insurance – Paramedical Practitioners

An overview of the second largest cost within a Group Health Insurance plan, paramedical practitioners account for between 15% to 25% of health claims. This article discusses the types of practitioners that are typically covered, the different coverage levels as well as common prevalence within Group Health Insurance plans.

Group Health Insurance – Prescription Drugs

A tutorial highlighting the key features of Prescription Drug coverage within an employer-sponsored Group Health Insurance plan. Topics include types of Prescription Drug plans, Drug Formularies, and the development of drug costs including dispensing fees