disability

Disability Insurance

Some employees may not think about disability insurance, but it is arguably more important than life insurance. That’s because a disabling injury is much more likely to occur than a fatality. And when a worker has to take time off due to serious illness or accident, a major concern is: “How am I going to pay for my family’s expenses after my sick and vacation time runs out?”

Group disability plans typically provide a covered employee who becomes totally disabled up to 60% of pre-disability income. There is also usually a benefit cap, such as $10,000 per month. This can make all the difference in covering personal expenses, as well as provide business overhead protection.

Advantages of offering a group disability plan include:

• Another key benefit to help you attract and retain the best people
• Plan design flexibility—to fit your budget and meet employee needs
• Lower premiums for group disability, compared to individual policies
• Payment flexibility—premiums can be paid by employer, employee, or shared, with either pre-tax or after-tax dollars
• Portability—employees may be able to take coverage of some plans with them after their employment ends

Providing disability coverage can mean financial security for your employees. And help them return to work for you when they recover. Strategic Employer Planning offers a variety of group disability policies, and we will assist you in choosing the right one to match your business needs.