First Rehab Life Launches 3-times DBL

PRLog (Press Release) - Nov 25, 2008 -
First Rehab Life (The First Rehabilitation Life Insurance Company of America) expands its versatile NY DBL benefit options effective December 1, 2008, to offer a new maximum benefit level of three times the statutory benefit.

The company is known for its proactive and innovative solutions in the insurance market. David Epstein, Vice President of Sales, explains: “Enhanced DBL with increased benefit levels and in-hospital coverage goes above and beyond the negligible state-mandated coverage that has not been increased by New York State since 1989. With our enhanced benefit options, New York employees can finally get the benefits they deserve.”

DBL stands for Disability Benefits Law (Article IX of the Workers' Compensation Law) and provides payments for eligible wage earners who are incapacitated by illness or disability from a non-occupational injury. The benefit level is mandated by the State of New York and is set at 50% of wages to a maximum of $170 per week. This amount falls short of other states with statutory short-term disability insurance, such as New Jersey with a maximum of $502 per week and California mandating a maximum of $840 per week.

With huge success, First Rehab Life has offered 1.5-times and 2-times DBL since 2006. These increase the benefit level to a maximum of $255 and $340 per week respectively. The new 3-times DBL raises the maximum benefit to $510 per week. The enhanced benefits options follow the same regulations applicable to Statutory DBL, i.e. they pay 50% of salary for up to 26 weeks to the respective maximum benefit.

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Note: This press release is illustrative only, providing a general overview of the services described. It is not a contract. Please refer to the policy for provisions, conditions and exclusions. Annual minimum premium $125 for policies billed annually in advance (groups 1-49 lives). Quarterly minimum premium $35 for policies billed quarterly (groups 11-49 lives). Proprietors/partners and voluntary insureds (with at least one employee) may also apply for coverage at the time of initial application or on the policy anniversary at the respective male/female rates.
For policies with the in-hospital rider, the in-hospital benefit is only payable while an employee is hospital-confined; and after 7 days of hospitalization, the statutory DBL benefit portion is doubled. All benefit calculations are based on $340 covered payroll per week.
Claim payment is not guaranteed; benefit amount depends on wages. Policies are reviewed annually and may be cancelled for nonpayment. Policies have a statutory 7-day waiting period.
Policy Form# DBL, DB E, DB-H