ADA Comparison

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Please read the contract comparison below to see how the ADA plan through Great West Life compares to our recommended plan in some key policy definitions and features.   This comparison is in no way meant to discredit Great West Life, as they are a fine company in our opinion.

Note: This comparison is based upon the most recent information available to us as of 02-09.  It is not intended to be complete or to compare all contract provisions.  Please refer to a specimen contract for additional information.  This comparison is for producer use. *Not all contract options are available in all states.

                      CONTRACT PROVISIONS COMPARISON
Shaded area indicates a less favorable provision than other policies provide  
                                                   Company The Guardian/Berkshire Life GREAT WEST LIFE
                                      Policy Description NON CANCELABLE ADA GROUP PLAN
                                            Form Number 1400 & 1500  
   Financial Ratings    
   Source: ( AM Best, S&P, Fitch, Thestreet.com)   A++, AA+, AA+, A A+, AA, AA+, B
   Comdex Composite Score 98 95  
   
   Basic Guarantees    
     
   Can the company CANCEL the policy for  NO YES.  If association endorses a 
   any reason during your working career?   different plan
     
   Is the PREMIUM GUARANTEED to age 65? YES NO.  Rates may be increased
    without Insurance Dept. approval
   Policy Benefit Provisions    
    Unable to perform the substantial
   What is the policy's definition of  Unable to perform the material  and material duties of your regular
   TOTAL DISABILITY and substantial duties of your occupation…and are not qualified as
  regular occupation. residually disabled
     
    Is a loss of time or duties required to receive No loss of time or duties Yes
    benefits under a claim for Residual Disability is required, only 20% loss of inc.  
    or does a 20% loss of income trigger benefits?    
     
   During a claim for loss of earnings, is income Yes No.  INCOME  is measured with the
   measured as:  cash received  for work done     accrual accounting method
   AFTER the start of your disability?    
     
   Is the MEDICAL CARE REQUIREMENT waived  Yes No.   Policy says any condition
   as a condition of claim when further recovery is     causing a claim must be one that
   not expected?   requires regular medical care
     
   How long do benefits continue at RECOVERY Payment continues for the entire You receive no payment if
   if you are working full time but income is less  benefit period you return to work full time
   than 80% of prior income?    
     
     
   Optional Benefits    
     
   Future Benefit Increase Options    
     
   At what age is your last benefit increase 55 49
   available?    
     
   Is there an optional extra monthly benefit available Yes* - Up to $8000 per month
No
   in the event of a Catastrophic Disability?    
                      CONTRACT PROVISIONS COMPARISON
Shaded area indicates a less favorable provision than other policies provide
  THE GUARDIAN LIFE INS. CO. GREAT WEST LIFE
     
   Optional Benefits ( Continued )    
     
   Cost of Living Adjustment (COLA)    
     
   Simple or Compound adjustment Compound Compound
     
   Maximum % guaranteed increase 3%, 6% or CPI if less 9% or CPI if less
     
   Minimum % guaranteed increase 3%, 6% or CPI if less None
     
   LIFETIME BENEFITS    
     
   Is a lifetime benefit available? YES* NO
     
   How is the lifetime benefit calculated? Amt. Payable for life reduces by Not applicable
  5% per yr. After age 45  
     
   MISCELLANEOUS BENEFITS    
     
   Does the policy retroactively WAIVE the  Yes.  After the lesser of 90 days No.  Only after 6 months  of Total
   PREMIUM during claim? or the waiting period Disability.  Not retro-active.
     
   Does the policy offer an optional benefit  YES NO
   for WAIVER OF PREMIUM if you become    
   UNEMPLOYED?    
     
     
   LIMITATIONS AND EXCLUSIONS    
      
   How are benefits paid for claims due to:    
     
   MENTAL DISORDER / SUBSTANCE ABUSE? No limitations or exclusions Limited to 12 months during lifetime
    for alcohol or substance abuse 
   NORMAL PREGNANCY? Only after 90 days of disability and related mental illness if any.
     
OTHER LIMITATIONS    
     
   If coverage exceeds prior income at start NO YES
   of claim, are benefits reduced proportionately?