Disability Insurance

Our Disability Insurance Coverage:

Although workers have the option of purchasing their own personal disability insurance, companies that pay for a disability insurance plan as part of their employee benefits package frequently find that it is a fantastic way to attract employees and make them feel appreciated.

An employee of your company who is unable to work due to illness or injury receives compensation through disability insurance. This compensation often amounts to 60% of their usual wage and is frequently paid as tax-free income.

You can choose to just offer short-term coverage (which is often limited to six months) or long-term coverage when picking a plan for your employees (which runs for several years or even until retirement age). There are also mortgage payments that are made particularly for the employee as a disability insurance alternative.

Providing disability insurance is another excellent approach to make sure that sick or wounded workers take the time they need to recover and return to work stress- and physically-free. This prevents workers from returning to work before they have fully recovered, which may aggravate their health and cause future recovery times to be much longer.

It's crucial to distinguish disability insurance from some other programs. It is distinct from social security disability insurance and workers' compensation insurance, which are both mandated insurance programs funded by employers that give benefits if an employee is hurt at work (a government program for people with serious long-term conditions or disabilities who are unable to take on employment).