Lincoln Financial Group Becomes Approved TDI Carrier in Hawaii
Expands State Disability Offering
PHILADELPHIA, February 17, 2010 The Group Protection segment of Lincoln National Corporation (NYSE:LNC) today announced its expansion of state-mandated disability insurance into Hawaii (called temporary disability insurance or TDI in Hawaii). The state of Hawaii requires employers with 2 or more Hawaiian employees to provide this coverage.
"Employers and brokers look to Lincoln to offer disability solutions, including state disability insurance. Lincoln is now very pleased to expand our expert disability services to employers who provide Hawaii TDI coverage to their employees," said Dave Swanson, Vice President, Product, Risk & Business Technology Management.
Hawaii TDI coverage is a "wage replacement" program, similar to other disability insurance/ income replacement programs. This means if an employee is unable to work because of an off-the-job sickness or injury and meets the qualifying conditions of the law, s/he will be paid disability or sick leave benefits to partially replace the wages lost.
As with all Lincoln group programs, the new Lincoln disability coverage will be implemented by Lincoln's I-TeamSM, which creates a seamless and streamlined implementation process. This offers employers further simplification of the administration process and shortened time cycles for the issuance of policies in Lincoln's Life and Disability product lines.
Group insurance products are issued by The Lincoln National Life Insurance Company (Fort Wayne, IN), which does not solicit business in New York, nor is it licensed to do so. In New York, group insurance products are issued by Lincoln Life & Annuity Company of New York (Syracuse, NY). Both are Lincoln Financial Group® companies. Product availability and/or features may vary by state. Limitations and exclusions may apply.
About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $141 billion as of December 31, 2009. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; and comprehensive financial planning and advisory services. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.