Originally Posted by Tahoe Ray
So the Guardian policy pays the business a lump sum and/or monthly benefit in the event of a DI claim on a key person?
I was under the impression that only Principal and Northwestern had those policies (and of course Lloyds/Petersen, as noted above.)
Yes, Guardian has a lump sum payment rider that provides a Lump Sum Benefit Amount equal to 35% of all Total Disability and/or Residual Disability Benefits paid under the Policy at the Policy Expiration Date.
Like I mentioned before, this is an individual policy and will affect what the client would be able to cover himself for.