The premiums for this coverage can be paid by either an Employer or by Employees on a voluntary basis through payroll deductions...providing the
They provide a stop-gap for the other income protection programs available to employees, including long-term disability, workers’ comp, Social Security and additional voluntary benefits. This
stop-gap is an important component of your overall disability benefits program for expense control and risk management.
They provide monthly benefits that your employees need if they are disabled because of a covered accident or a covered sickness to pay for housing, food, clothing, their children’s education –
all the necessities of life.
Benefits are not taxable to employeesIFthe employee pays the premiums with post-
tax dollars. HIGHLY RECOMMENDED!
Some plans provide partial disability benefits that can encourage employees to return to work sooner.
Employees want and need this coverage
This makes your benefits package more effective in attracting and retaining quality employees.
Pays without regard to other income sources at time of claim
Typically plans will cover up to $833 in weekly gross wages at a level of 60%. The maximum amount of weekly benefit that can be received is $500
These policies typically cover periods from 13 to 52 weeks.