Short & Long Term Disability Insurance 

As a business owner or HR professional, you understand the importance of attracting and retaining top talent. One way to achieve this is by offering a comprehensive benefits package that includes disability insurance. Short-term and long-term disability plans provide financial protection for your employees in the event of an illness or injury that prevents them from working.

What is Short-Term Disability Insurance?

Short-term disability insurance replaces a portion of an employee’s income if they become temporarily disabled and unable to work due to an injury, illness, or pregnancy. Benefits typically last between 3 to 6 months, providing valuable coverage during shorter periods of disability.

Key Features of Short-Term Disability Plans:

• Income replacement: Pays a percentage of the employee’s salary (e.g., 60-70%)
• Waiting period: The number of days before benefits kick in (e.g., 7-14 days)
• Benefit duration: The maximum length of time benefits are paid (e.g., 3-6 months)
• Partial disability coverage: Some plans cover partial disabilities, allowing employees to work reduced hours

What is Long-Term Disability Insurance?

Long-term disability insurance kicks in when an employee’s disability extends beyond the short-term period, providing income replacement for an extended period of time or until retirement age. This coverage is essential for protecting your employees’ financial well-being in the event of a severe illness or injury.

Key Features of Long-Term Disability Plans:

• Income replacement: Pays a percentage of the employee’s salary (e.g., 60%)
• Benefit period: Benefits may continue until retirement age or a specified period (e.g., 5 years)
• Elimination period: The waiting period before benefits begin (e.g., 90-180 days)
• Partial disability benefits: Some plans offer partial benefits for employees who can work on a limited basis

The Benefits of Offering Disability Insurance

Providing short-term and long-term disability insurance to your employees offers numerous advantages for your business:

1. Attract and retain top talent: A comprehensive benefits package can give you a competitive edge in the job market.
2. Improve employee satisfaction and morale: Knowing they have financial protection in the event of a disability can reduce stress and increase loyalty.
3. Reduce costs associated with employee turnover and absenteeism.
4. Tax advantages: Employer-paid premiums for group disability insurance are tax-deductible.

We understand the unique needs of businesses like yours. Our experts can guide you through the process of selecting and implementing the right short-term and long-term disability plans to protect your employees and your bottom line.

Don’t leave your employees vulnerable to the financial hardship of a disability. Contact us today to learn more about our disability insurance solutions and how we can help you build a robust benefits package that attracts and retains the best talent.