N.C. Gen. Stat. § 58-21-22
Limitation on amount of salary protection insurance
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
When salary protection insurance benefits are payable to an individual or an individual's beneficiary, the amount of salary protection insurance plus the amount of any in-force disability income insurance, if the individual can obtain disability insurance from an admitted insurer, shall not exceed seventy-five percent (75%) of the individual's annual earned income. As used in this section, "disability income insurance" has the same meaning as "accident and health insurance" in G.S. 58-7-15(3).
When salary protection insurance benefits are payable to an individual or an individual’s beneficiary, the amount of salary protection insurance plus the amount of any in-force disability income insurance, if the individual can obtain disability insurance from an admitted insurer, shall not exceed seventy-five percent (75%) of the individual’s annual earned income. As used in this section, “disability income insurance” has the same meaning as “accident and health insurance” in G.S. 58-7-15(3).
History
(2011-370, s. 2.)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.