Disability insurance coverage is an important employee benefit because it helps protect your employees most valuable financial asset...their income. It replaces lost income for an employee if they are unable to work due to sickness or injury.
Group disability insurance for your Indiana Ohio Michigan Texas Louisiana Mississippi Illinois business is an excellent employee benefit incentive for acquiring and maintaining employees and the cost is relatively low in comparison to other employee benefits. Learn much more below about both Indiana Ohio Michigan Texas Louisiana Mississippi Illinois Group Long Term Disability Insurance and Group Short Term Disability Insurance.
Learn much more below about both Indiana Ohio Michigan Texas Louisiana Mississippi Illinois Group Long Term Disability Insurance and Group Short Term Disability Insurance.
Indiana Ohio Michigan Texas Louisiana Mississippi Illinois Group Short Term Disability Insurance
When an employee needs to be away from work for an extended period or a non- work related disability like maternity, illness, or injury, an employee can have access to a short term disability program which provides at least partial income protection. Indiana Ohio Michigan Texas Louisiana Mississippi Illinois short term disability insurance is a more common employee benefit because the chance of an employee being unable to work for a short period is higher than the chance of being permanently disabled.
A short term disability insurance plan for your Indiana Ohio Michigan Texas Louisiana Mississippi Illinois business will provide weekly income for an employee disability shorter than 3 months. Coverage is meant to bridge the gap between a company's sick pay policy and the start of an employee long term disability insurance plan.
Key Features:
- Benefits begin on the 1st day in the case of an accident
- Benefits begin on the 8th day in the case of a sickness
- Weekly benefit is 100% of pre-disability income for the first 15 days.
- Weekly benefit is 66% of pre-disability income from day 16 through a maximum of 165 days.
- Maximum weekly benefit is $1,000.
- Benefit duration is 26 weeks.
Group Long Term Disability Insurance
- Convenient access to quality medical care for employees
- Large and diverse network available of primary care physicians, specialists, hospitals & clinics.
Each year on average, 12% of the adult U.S. population suffers a long term disability and one out of eight workers will suffer a five-year or longer disability before the age of 65.
Indiana Ohio Michigan Texas Louisiana Mississippi Illinois group long term disability insurance plans provide income protection for disabilities lasting three months or longer. After the initial waiting period is completed, long term disability insurance will provide a monthly income which may continue until age 65 for qualified disabilities. The monthly income provided under a policy is usually 60% of the employees pre-disability income.
Key Features:
- Benefits begin on the 91st day of disability.
- Monthly benefit is 60% of pre-disability income.
- Maximum monthly benefit is $5,000.
- Benefit duration to age 65 for qualified disabilities.
Or you can speak with our Indiana Ohio Michigan Texas Louisiana Mississippi Illinois group disability insurance agent specialist toll free at 877-808-2900 to discuss the features.
