Group Disability Insurance
Most people plan for their deaths more than they plan for being unable to work and earn an income. Employees are up to nine times more likely to experience one or more periods of disability during their employment years than they are to die during that time. Inability to work for an extended period of time can be financially burdensome if not devastating to employees and their families. Lost income can leave employees and their families unable to meet their financial obligations, including paying their regular bills, as well as unexpected spending, such as medical expenses.
Disability Insurance (DI), including Long-Term Disability (LTD) and Short-Term Disability (STD), can provide “paycheck protection” by replacing a significant portion of an employee’s regular income during extended periods where they are prevented from working due to injury or illness.
Whether voluntary (employee-paid) or group sponsored (company-paid), disability benefits can be a good fit for your employees and enhance the total compensation package your business offers.