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22-Jul-03 <br /> To: Bryan Adams <br /> From: Patricia Hemza <br /> Re: Long Term Disability <br /> The ERMU presently has group Long Term Disability with Fortis Benefits. <br /> We are on the downside of a two year rate guarantee, effective <br /> until September 1, 2003. <br /> A proposal from Principal has been reviewed in comparison with Fortis. Two <br /> other companies declined to quote a rate to ERMU. <br /> FORTIS STANDARD UNUMP PRINCIPAL <br /> Rate Per$100/Payroll $1.12 $1.58 $1.70 $0.83 <br /> Monthly $1,447.29 $2,041.71 $2,196.77 $1,072.54 <br /> Annual $17,367.74 $24,500.49 $26,361.29 $12,870.48 <br /> Benefits quoted are the same. Principal guarantees their quoted rate to June 2005. <br /> Fortis has not quoted a renewal premium, it is known that the rate will increase, but <br /> we do not know how much at this time, only that it will definitely increase. <br /> It is recommended that we accept the quote from Principal for the LTD, effective <br /> September 1, 2003. <br /> • <br />