Manulife Financial Corp. is introducing an enhanced long term disability program designed to protect executives and professional employees, the company said Wedneday.

Manulife (TSX:MFC) says its Executive LTD solution meets the needs of advisors and employers seeking disability coverage to help close the income replacement gap for many higher income earners.

In addition, employers seeking a way of improving the long term disability programs they offer key employees now have a new option available for their group benefits plans.

“Employers across Canada have told us they need an enhanced and integrated benefit to provide their executives and professional staff with a higher level of long term disability protection. This product helps them offer that protection to these key employees on a group basis that provides excellent value,” explains Rick Brunet, executive vice president, Manulife group benefits. “This is an innovative long term disability solution that helps bridge the income replacement gap. It gives these employees access to an extra layer of income protection if they become disabled.”

The program features three tiers of coverage, each providing greater levels of protection. It’s available to employers with as few as five eligible employees. It provides one-stop, integrated disability claims management and a single point of access to Manulife’s extensive network of disability experts.

Key features of the product include:

> increased long term disability coverage with simplified underwriting (four short health questions);
> easy application, plan set-up and administration;
> optional features and executive services, including access to health care navigation and second medical opinion resources, executive health assessments and proactive support during absence.

IE