I’m A Highly Compensated Employee. Our Company Group Policy Pays Out 60% Of My Present Salary, But With A Payment “Cap”. What Does That Mean?
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UPDATED: Jul 16, 2021
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The term “cap” normally means a limitation on the maximum amount that could be received. You need to read the plan description to see if it is a limitation on how much monthly income you can receive or whether it is a limitation on the total amount you can receive during the period of your disability.