Personalized Supplemental Disability Insurance Policy Description for NetBank, Inc. Executive Officer

Summary

This document outlines the details of a supplemental disability insurance plan provided to a NetBank, Inc. executive officer. It describes two insurance policies, each offering a monthly benefit ($3,000 and $2,000) payable until age 65, with a 180-day elimination period and a 2-year minimum non-disability aggregate (MNDA) period. The policies are effective from March 1, 2003, and are designed to provide income protection in the event of disability. The annual premium amounts are not specified in this form.

EX-10.12 18 a05-3115_1ex10d12.htm EX-10.12

Exhibit 10.12

 

[Form of Personalized Policy Description Under
Supplemental Disability Insurance Plan]

 

 

Personalized Policy Description for:

 

[Name of Executive Officer]

 

NetBank, Inc.

 

Policy I
 
 
 
 
 

Policy Number:

 

 

Policy Form:

 

601 Income III Choice, GR

Monthly Benefit Amount:

 

$3,000.00

MNDA:

 

2 Year Aggregate

Residual:

 

To Age 65 Residual

Elimination Period:

 

180 Days

Benefit Period:

 

To age 65

Issue Date:

 

03/01/03

Annual Premium:

 

$

 

Policy II
 
 
 
 
 

Policy Number:

 

 

Policy Form:

 

601 Income III Choice, GR

Monthly Benefit Amount:
 
$2,000.00

MNDA:

 

2 Year Aggregate

Residual:

 

To Age 65 Residual

Elimination Period:

 

180 Days

Benefit Period:

 

To age 65

Issue Date:

 

03/01/03

Annual Premium:

 

$