Long and Short Term Disability
PLANNING FOR THE LONG TERM
An employee has just been disabled and you don’t have a plan for it. Now what? Do you continue to pay all or part of a salary? Offer unpaid leave? Terminate employment? There are no easy answers unless you have a plan.
An insured Long Term Disability plan set in place by disability experts like us will replace up to 66 2/3% of an employee's income up to the age of 67. Along with income protection, most disability plans offer rehabilitation and return-to-work services that are essential to the employee’s recovery. It’s our goal to help you financially protect and proactively return disabled employees to a productive life.
The smart thing to do:
Sixty-two percent of accidents occur outside of the work place. These off-site disabilities are not covered by Worker’s Comp. If an employee has to rely on savings to supplement income, research shows it will last on average just 4 - 8 weeks. Then what?
Focusing on short-term disability is the first step to gaining control of overall disability costs. A well-managed plan can help identify, track and handle claims professionally and consistently and accelerate rehabilitation and return-to-work efforts.
Prevent short-term disabilities from turning into long term ones:
An employee has just been disabled and you don’t have a plan for it. Now what? Do you continue to pay all or part of a salary? Offer unpaid leave? Terminate employment? There are no easy answers unless you have a plan.
An insured Long Term Disability plan set in place by disability experts like us will replace up to 66 2/3% of an employee's income up to the age of 67. Along with income protection, most disability plans offer rehabilitation and return-to-work services that are essential to the employee’s recovery. It’s our goal to help you financially protect and proactively return disabled employees to a productive life.
The smart thing to do:
- There is a 1-in-5 risk that a 35 year old will be disabled for 90 days or more before age 65
- A fully insured long-term plan will cost about one half of one percent of the company's monthly payroll
- Most plans will pay an employee who is limited from performing all of their job functions, and has suffered a 20% or more loss of income as a result
- Most companies implement a plan that replaces 60% to 66 2/3% of an employee's income in the event of a disability
Sixty-two percent of accidents occur outside of the work place. These off-site disabilities are not covered by Worker’s Comp. If an employee has to rely on savings to supplement income, research shows it will last on average just 4 - 8 weeks. Then what?
Focusing on short-term disability is the first step to gaining control of overall disability costs. A well-managed plan can help identify, track and handle claims professionally and consistently and accelerate rehabilitation and return-to-work efforts.
Prevent short-term disabilities from turning into long term ones:
- The average annual occurrence of short-term disability claims is 65 per 1,000 insured lives
- An insured Short Term Disability plan can replace up to 100% of the income lost due to injury of sickness
- While State Disability Insurance pays 55% of income up to $334 per week, a short-term plan can be designed with higher percentages and maximums to replace a larger amount of income and pay on top of state disability to these higher amounts.
- Pregnancies are also covered just as any other disability