Short-Term Disability - Self-Funded
Self-funded short-term disability (STD) coverage can be constructed a variety of ways. Designs generally include an elimination period, benefit duration, maximum weekly benefit and benefit percentage. Self-funded STD provides a range of services that allows employers to create and fund their own benefit design that is serviced by Principal Life Insurance Company®.
Two self-funded short-term disability coverages are available:
- Standard – Involvement from Principal Life can be limited to advising employers on how to handle claims.
- Elite – Principal Life is more involved to include handling the appeal process for denied claims and even distributing benefit checks.
Services Principal Life Provides |
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Standard | Elite | |
Evaluation of all claims | X | X |
Advisement on disability duration | X | X |
Determination of disability duration | X | |
Ongoing claim management support | X | X |
Reporting services | X | X |
Plan documents in PDF format | X | X |
Written communication of claim decision to employer and employee | X | |
Handling appeal process for denied claims | X | |
Underwriting and actuarial plan pricing and consulting | X | |
Distribution of benefit checks (optional) | X |
Case Size |
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- Suggest self-funded coverage to growing businesses. Clients with as few as 100 employees are eligible for self-funded coverage with at least one insured coverage.
- Contact your local sales representative.
2465116-102022 | 10/2022