Dividend Programs

Return of Premium Program

NYSIF disability benefits policyholders who employ 49 or fewer employees become members of a group of policyholders who may be eligible for the annual Return of Premium credit.

At the conclusion of each policy year, after all claims are closed, a total group loss ratio is calculated for the group. If the group loss ratio is less than the industry standard, established by the New York State Insurance Department, a Return of Premium credit is awarded to qualified NYSIF policyholders.  If the total group loss ratio is greater than or equals the minimum loss ratio industry standard, no credit is issued.

Return of Premium qualifications:

• NYSIF disability benefits policyholder with 49 or fewer employees
• Policyholder must remain in active status with NYSIF throughout the policy year
• Payroll report(s) must be submitted 30 days from the end of the policy period

Premium Adjustment Plan

If a policyholder’s annual premium is over $1,000 they may qualify for a Premium Adjustment Plan credit. This program awards policyholders with an annual credit based upon the policyholder’s individual claims performance.

At the end of the policy year, after all claims for the period have closed, the annual premium of a qualified policyholder is compared to the total claims for that same period. If the policyholder's total annual claims multiplied by a factor of 1.2 is less than the total premium for that period, a Premium Adjustment Plan credit is awarded.

Premium Adjustment Plan qualifications:

• NYSIF disability benefits premium is over $1,000
• Policyholder must remain in active status with NYSIF throughout the policy year
• Payroll report(s) must be submitted within 30 days from the end of the policy period

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