Thursday, March 19, 2020

Disability Insurance and CV-19

As we continue to monitor carriers' response to the pandemic, here's some helpful info from our friends at Companion Life (full discourage: CompLife is our go-to carrier for ancillary non-medical group coverage, including short- and long-term disability plans):

"If you have, or have been exposed to, COVID-19 and have been diagnosed by a certified medical professional, you can file a short-term disability claim."

Subject to waiting periods and the like.

Now, we've also been following the Business Interruption coverage issue:

"In the event of my absence, if anyone for commercial lines calls and asks if there is any business income coverage due to their business shutting down during the Coronavirus outbreak, the answer is "No"."

Okay, but what about disability coverage?


"We understand that some of our groups maybe faced with temporarily closing their doors dure to COVID-19. As an employer, if you choose to deem your employees still "actively employed" and "benefits-eligible" during that temporary closure, Companion Life will recognize those statuses."

This is similar to the Medical Mutual of Ohio stance on group plans.

It's important to note, of course,  that as with the BI issue, absent an actual "physical loss" these folks aren't 'disabled,' so aren't eligible for benefits.

On the other hand, and in keeping with current sentiments currently coming out of DC, the company is "extending the grace period for remitting premium payments."

blog comments powered by Disqus