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Lincoln Financial unveils Family Care benefit rider on LTD policies

US-based Lincoln Financial has introduced a Family Care Reimbursement Benefit rider on its group long-term disability insurance product.

Lincoln said that with the addition of this optional benefit, employers now have another solution to help partially disabled insureds overcome family care cost concerns as they try to return to work.

The Family Care benefit rider will reimburse the insured for care costs paid up to the maximum plan reimbursement amount. This reimbursement maximum amount is per qualified dependent and is payable in addition to the maximum long-term disability (LTD) plan benefit. In addition, the Family Care benefit rider combined with Lincoln’s Progressive Partial Disability Benefit may allow an employee to earn more than 100% of their pre-disability benefits, added Lincoln.

Bob Risk, senior vice president of group sales at Lincoln Financial, said: Lincoln recognises that there are often more than just physical challenges facing an insured during the transition back to work. Lincoln’s new Family Care Reimbursement Benefit rider helps remove the barrier of increased dependent care costs faced by partially disabled workers.

Lincoln Financial is a diversified financial services organisation. With $178 billion in assets under management as of December 31, 2008, Lincoln Financial has been serving the financial needs of customers across the US and the UK.