Disability Benefits for Employees

Few people expect to lose their ability to work over a serious injury, and few have the financial means to support themselves or their families if rendered disabled from an injury. As an employer, you can help your employees with this peace of mind by offering group disability insurance. Your employees won’t lose everything if an accident or injury leaves them unable to provide for their families.

Short vs Long-Term Disability

Disability insurance is a plan that covers a part of an employee’s income whenever the employee has been through a non-work-related injury or illness that took away their ability to work. There are two types of coverage: long-term and short-term disability. Employers may offer one or the other or both.

  1. Short-Term: With short-term coverage, the plan covers a portion of the salary for a short period of time, often lasting between three to six months following the incident that caused the temporary disability.
  2. Long-Term: Under long-term coverage, the employee holding the policy must be unable to work for at least six months. However, the policy can extend for several years, with some covering the policyholder until the age of 65 or retirement.

Disability insurance is an important policy to offer your employees. It is a great way to attract and retain qualified talent to your company, but it also provides a way for your employees to remain financially stable after suffering a serious injury or accident.