If you’re an employer, you probably already know that offering disability insurance to your employees isn’t just the right thing to do; in many states, it’s the law.
Understanding Disability Insurance
You may already be familiar with the basics of disability insurance. But in case you’re not, or if you need a refresher, here’s what you need to know:
Disability insurance is there to protect your employees in the event that they become unable to work due to a disabling illness or injury. It can provide them with a regular income stream, which can help them keep their heads above water financially while they’re unable to work.
Many employers offer disability insurance as part of their benefits package. But even if you don’t offer it, your employees may still be able to get coverage through the government or through a private insurer.
There are two main types of disability insurance: short-term and long-term. Short-term coverage kicks in when an employee loses their job due to a disabling illness or injury. It provides them with a temporary income stream until they’re able to find another job. Long-term coverage provides benefits for a longer period of time, usually until the employee reaches retirement age.
Our Team Can Help
If you need to set up a disability policy for your workers, we urge you not to try and do it alone. Let us help you find the best carrier for your needs and ensure that the policy costs fit into your budget. For more information, contact us by phone or by clicking below – all consultations are free.
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