Group Disability: A Financial Safety Net For Your Workers

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If sickness or injury kept an employee off the job for weeks — or months — how would he or she be able to pay the bills? The answer: Group Disability insurance provides an invaluable source of income, averaging about 60% of his or her earnings, for up to two years (depending on the policy).

One recent nationwide study found that only one in three workers benefit from the financial security net that this product offers. Yet, according to another survey, although only 13% of employees knew much about Disability insurance, 90% were prepared to pay at least part of the premium once they understood it.

To help sell your workers on this valuable financial “umbrella,” let them know that:

  • Although Workers Compensation helps pay for loss of income from job-related illness or mishaps, it does¬†not¬†cover employees who are unable to work due to sickness or injury incurred outside the workplace — which account for up to 90% of Disability claims.
  • Social Security Disability Insurance payments max out at only $1,100 a month.
  • One in three sick or injured workers stays off the job for at least 90 days — and these workers will probably remain disabled for at least two years.

We’d be happy to help you develop a comprehensive, cost-effective Group Disability program that can help give your employees financial peace of mind.